Market Overview: THETAUSDT Daily Candlestick Analysis

• THETAUSDT declined to a 24-hour low of $0.484 before staging a modest recovery to $0.517 near the end.
• Momentum shifted from bearish early on to constructive near the close, as RSI and MACD turned upward.
• Volatility increased significantly following the $0.484 support test, with volume surging over 600k around the 15:00 ET candle.
• Price retested key Fibonacci levels from the earlier decline and is now consolidating near the 61.8% retracement at ~$0.515.
• The 24-hour volume reached 6.7M THETA, with the highest turnover occurring during the $0.512–$0.536 rally from 15:00–16:00 ET.

Price Action and Opening Summary

At 12:00 ET on 2025-10-11, THETAUSDT opened at $0.505, with the 24-hour session reaching a high of $0.544 and a low of $0.484. It closed at $0.545 as of 12:00 ET on 2025-10-12. Total volume amounted to 6,733,820 THETA, while notional turnover hit approximately $3,493,984 (using average price of $0.519). The price action reflects a strong bear-to-bull reversal after testing support around $0.484.

Structure & Formations

The price action displayed a bearish breakdown early in the session, forming a bearish engulfing pattern around the $0.505–$0.495 range. However, a strong recovery followed, leading to a bullish engulfing pattern near $0.512–$0.519 and a potential hammer forming at the session’s low. A notable doji occurred at $0.484, suggesting indecision and a potential reversal point. The price has since moved above the key $0.512–$0.515 range, which may act as near-term support.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed to the upside during the rally from $0.484 to $0.519, confirming a short-term bullish trend. The 50-period moving average currently sits at $0.509, while the 20-period line is at $0.516. On the daily chart, the 50-period MA is at $0.504, and the 200-period MA at $0.489, indicating that the price is currently above both, a sign of a possible medium-term bullish bias.

MACD & RSI

The MACD crossed into positive territory during the afternoon hours, aligning with the price breakout above $0.512. The RSI has moved from an oversold reading of ~35 to a moderate level of ~58, suggesting some relief in bearish momentum. However, the RSI has not yet entered overbought territory, indicating the rally may still have room to run, but caution is advised if it approaches 65 or above.

Bollinger Bands

Price touched the lower Bollinger Band at $0.484 and has since moved into the upper half of the channel, reaching the upper band at $0.544. The band width has expanded significantly, reflecting increased volatility. The closing price of $0.545 is slightly above the upper band, suggesting a potential overextension that may invite corrective action or consolidation.

Volume & Turnover

Volume surged past 600k THETA around the $0.512–$0.536 rally, indicating strong buying pressure. Notional turnover also spiked during this period, confirming price action rather than diverging from it. The overall volume profile shows a clear increase in participation during the late morning and afternoon, especially between 15:00–16:00 ET, when the price moved from $0.512 to $0.544.

Fibonacci Retracements

Applying Fibonacci levels to the major swing from $0.544 to $0.484, the 61.8% retracement level is at ~$0.515, where the price has consolidated. The 38.2% level is at $0.524, a potential resistance zone. On the 15-minute chart, a recent pullback to $0.511 tested the 61.8% retracement from $0.519 to $0.507, which appears to have held well. These levels could play a role in near-term directional bias.

Backtest Hypothesis

The described backtest strategy involves entering long positions on a 15-minute chart when the price breaks above the 20-period EMA and the RSI crosses above 50, with a stop-loss set at the previous session’s low. This aligns with the recent THETAUSDT action, where the 20-period EMA crossed above the 50-period line and RSI moved above 50 during the $0.512–$0.544 rally. Historical data suggests that this strategy performs best in trending conditions, such as the current post-support-break scenario. Traders should consider combining it with Bollinger Band and Fibonacci retracement levels to refine entry and exit points.