Measurable Data Token/Tether 24-Hour Market Overview

• Price action showed a moderate bullish reversal after a sharp dip.
• Key support held near 0.02490, with buying interest reemerging above 0.02500.
• Volatility expanded midday, with a 1.8% intraday range.
• RSI showed overbought conditions in the late hours, hinting at potential pullback.

Overview

At 12:00 ET-1 on 2025-09-19, MDTUSDT opened at 0.02479 and reached a high of 0.02633 before settling at 0.02493 as of 12:00 ET on 2025-09-20. The pair experienced a low of 0.0246 over the 24-hour period. Total volume reached 34,768,995.0 units, with a notional turnover of approximately $868,609 (calculated as volume × average price). This suggests heightened participation and a strong price correction from a midday dip.

Structure & Formations

Price action displayed a strong bearish correction from midday to early afternoon, followed by a moderate bullish rebound as buying interest reemerged around the 0.02500–0.02510 level. A key support at 0.02490 held through the day, preventing a deeper pullback. A potential bullish engulfing pattern emerged in the early morning, while late-hour overbought RSI levels suggest traders may pause or reverse momentum. A notable bearish doji appeared near the 0.02533 level in the late afternoon, signaling indecision among market participants.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed in the late morning as the price corrected lower, with the 20 MA crossing below the 50 MA to signal a short-term bearish bias. By early evening, the 20 MA began to pull back upward, hinting at potential support in the 0.02500–0.02510 range. On the daily chart, the 50-period MA is currently above the 100-period MA, but the price is approaching the 200 MA from below, suggesting a potential consolidation phase before a possible retest of key resistance near 0.02550.

MACD & RSI

The MACD line crossed below the signal line in the afternoon, confirming the bearish momentum from the midday correction. However, it has since begun to flatten and even cross back into positive territory, aligning with the late-hour bullish rebound. RSI peaked at over 65 in the late hours, signaling overbought conditions and suggesting a potential pullback to the 0.02500–0.02510 range may occur. The divergence between price and RSI strength highlights cautious optimism about the immediate bullish bias.

Bollinger Bands & Volatility

Volatility expanded significantly in the afternoon as the price gapped down and traded within an intraday range of 1.8%, with the 20-period Bollinger Band width peaking. Price spent much of the day near the lower band before a late rebound brought it back toward the middle band. This suggests that the move above 0.02500 may be a test of the mean in a more stable environment. The narrowing of the bands in the early morning suggested a period of consolidation that preceded the sharp bearish reversal.

Volume & Turnover

Volume spiked sharply in the afternoon when the price corrected sharply lower, with a 15-minute bar showing over 10 million units traded. This confirmed the bearish momentum and reinforced the validity of the support level near 0.02490. By the late hours, volume had decreased, but the price continued to rebound, suggesting that the buying interest was relatively strong with lower volume, a sign of conviction from core holders. Notional turnover also spiked during this period, confirming that the move was not a wash trade.

Fibonacci Retracements

The key Fibonacci retracement levels (38.2% and 61.8%) of the afternoon bearish leg (0.02633 to 0.02471) aligned closely with the 0.02535–0.02512 range. Price found support near the 61.8% level and bounced back, suggesting that this area could continue to serve as a critical pivot point. Over the 24-hour period, the daily low of 0.0246 represented a potential 77.6% retracement from a prior bullish leg, signaling a potential exhaustion level for further bearish momentum.

Backtest Hypothesis

The described backtest strategy involves identifying a bullish engulfing pattern on the 15-minute chart after a strong bearish correction confirmed by a bearish MACD crossover and a pullback to the 61.8% Fibonacci level. The strategy aims to go long on a close above the engulfing pattern’s high with a stop below the engulfing pattern’s low. Given the late-hour price rebound and the confirmation of the 61.8% level, this strategy could be applied to test whether the recent bullish reversal can generate a measurable and repeatable edge. A trailing stop or profit target near the 0.02540–0.02560 level may be used to capture potential follow-through buying.