Market Overview for Tezos/Tether (XTZUSDT) on 2025-10-09

• XTZ/USDT fell 2.19% over 24 hours, with a bearish close near session lows.
• Strong bearish momentum confirmed by RSI divergence and MACD bearish crossover.
• Volatility expanded in the morning with a 0.0283 range before consolidating in the afternoon.
• Key support tested near 0.6683–0.6669, with a potential bounce or breakdown to watch.
• Divergence in price and turnover highlights distribution in key bearish swings.

XTZ/USDT opened at 0.6849 on October 8 at 12:00 ET and closed at 0.6688 on October 9 at 12:00 ET, with a high of 0.7007 and a low of 0.6669. The pair saw total volume of 1,089,562.2 and a notional turnover of approximately $734,564.8 over 24 hours, reflecting high volatility and strong bearish pressure.

Structure & Formations

The 24-hour candlestick pattern for XTZ/USDT shows a broad bearish trend, marked by a strong rejection at key resistance levels around 0.6920–0.7007 and a breakdown of critical support at 0.6700. Notable bearish patterns include a bearish engulfing pattern forming around 0.6750 and a shooting star at 0.6835. A doji at 0.6696 indicates indecision as the price consolidates ahead of a potential breakout.

Moving Averages

On the 15-minute chart, the price closed below both the 20-period (0.6766) and 50-period (0.6796) moving averages, signaling a bearish bias. The daily chart shows the 50-period MA at 0.6824 and the 200-period MA at 0.6849, with the current price comfortably below both, reinforcing the downtrend.

MACD & RSI

The MACD (12, 26, 9) for XTZ/USDT crossed below the signal line with a bearish crossover, confirming the momentum shift to the downside. The RSI (14) dropped to 38.2 at the close, near oversold territory, but failed to produce a significant bounce, indicating possible distribution at lower levels. This divergence suggests bears may still have control, even with short-term oversold readings.

Bollinger Bands

Volatility has been relatively high, with the Bollinger Bands expanding in the morning session. The close of 0.6688 sits near the lower band (0.6650), indicating a possible short-term support area. A bounce from this level could target the mid-band at 0.6750, but a breakdown would aim for 0.6590 and 0.6500.

Volume & Turnover

Volume spiked significantly during the 15-minute candle at 14:45 ET with 75,646 units traded, accompanied by a sharp drop in price from 0.6646 to 0.6616. This large volume during a bearish move suggests heavy distribution or profit-taking by bears. The total turnover of $734,564.8 over 24 hours aligns with the bearish price action, with no significant divergence observed between price and turnover.

Fibonacci Retracements

Applying Fibonacci retracement to the key 0.6669–0.7007 swing, the current close of 0.6688 is near the 38.2% level. A breakdown below 0.6669 could target the 61.8% level at 0.6590, and if this fails, the 78.6% level at 0.6500. On the daily chart, the 0.6669–0.7007 range suggests a potential continuation of the bearish trend if support at 0.6590 fails.

Backtest Hypothesis

A backtesting strategy based on the 20-period moving average and RSI divergence could be effective for XTZ/USDT. When the price closes below the 20-period MA and RSI shows bearish divergence, it may signal an entry point for a short trade. A stop-loss could be placed above the recent 15-minute high, and the first target would be the 38.2% Fibonacci retracement level. If the RSI remains below 50 and the MACD continues to signal bearish momentum, the trade could be extended toward the 61.8% level.