Moonriver/Tether Market Overview

Summary
• MOVRUSDT traded in a volatile range, forming key resistance and support levels.
• Momentum shifted with RSI suggesting oversold and overbought zones.
• Bollinger Band expansion signals increased volatility in the 24-hour window.
• Volume spiked during the late-night recovery, showing some conviction.
• The price closed near the middle of the range, hinting at unresolved direction.

Moonriver/Tether (MOVRUSDT) opened at $3.354 on 2025-11-04 at 12:00 ET and closed at $3.219 on 2025-11-05 at 12:00 ET, reaching a high of $3.551 and a low of $3.043. The 24-hour trading session saw a total volume of 201,690.06 MOVR and a notional turnover of $631,375.54.

Structure & Formations

MOVRUSDT formed a bearish engulfing pattern around 18:30–19:30 ET on 2025-11-04, followed by a bullish doji near the $3.112 low. The price tested key support at $3.156 and resistance at $3.26–3.27, showing a consolidation phase. A descending triangle pattern appears to be in formation, with a potential breakout near $3.23–3.25 expected.

Moving Averages

On the 15-minute chart, MOVRUSDT appears to be testing its 20-period and 50-period moving averages, which currently sit at around $3.25 and $3.27 respectively. The 50-period line offers a pivot point for potential reversal.

MACD & RSI

The RSI dipped below 30 during the late-night dip, indicating an oversold condition, before rebounding into neutral territory. MACD showed a bearish crossover earlier in the session, followed by a narrowing histogram, suggesting weakening downward momentum. A bullish divergence is forming as prices bottom while RSI remains near oversold levels.

Bollinger Bands

Price activity remained tightly within the Bollinger Bands for much of the session, with a moderate expansion observed from 20:30 to 21:30 ET. The price closed near the middle band, suggesting indecision. A move above the upper band would signal increased bullish conviction.

Volume & Turnover

Volume surged near the $3.156 low, aligning with the RSI bottoming. However, turnover was uneven, with the largest single 15-minute turnover of $56,225.21 occurring at 06:45 ET, when price was near $3.251. Price-volume divergence suggests a potential reversal may be in the works.

Fibonacci Retracements

Applying Fibonacci retracements to the $3.043 to $3.551 move, key levels include 38.2% at $3.251 and 61.8% at $3.333. The 38.2% level appears to be acting as dynamic support/resistance, with the price showing hesitation around $3.26.

Backtest Hypothesis

A potential backtesting strategy for MOVRUSDT could center on MACD divergences paired with RSI extremes. For example, a short-entry signal could be triggered when the price makes a lower high while RSI makes a higher high (bearish divergence), confirmed by a MACD bearish crossover. Conversely, a long-entry signal could be generated when the price makes a lower low but RSI forms a higher low (bullish divergence), with MACD confirming with a bullish crossover. Given the recent volatility and RSI bouncing near oversold levels, a bullish strategy may be more appropriate in the short term.