Moonriver/Tether Market Overview: MOVRUSDT on 2025-09-18

• Moonriver/Tether (MOVRUSDT) rallied to $6.008 before retreating to $5.973, with strong intraday momentum and a bullish trend.
• RSI hit overbought levels twice, suggesting potential pullbacks, while volume surged during key breakouts.
• Price remained above 20- and 50-period SMAs on the 15-minute chart, signaling short-term bullish bias.
• Bollinger Bands widened during the rally, indicating heightened volatility.
• A bullish engulfing pattern formed near support at $5.946, aligning with Fibonacci 61.8% level for possible further buying.

Moonriver/Tether (MOVRUSDT) opened at $5.700 on 2025-09-17 at 12:00 ET and surged to a high of $6.008, before closing at $5.973 at 12:00 ET on 2025-09-18. The 24-hour session saw total trading volume of 219,803.50 MOVR and a notional turnover of approximately $1.31M (based on average price).

Structure & Formations

The 24-hour candlestick data reveals a strong bullish bias, with multiple key support and resistance levels evident. Notable resistance levels include $5.98, $6.008, and $6.01, while key support levels are at $5.946, $5.916, and $5.884. A bullish engulfing pattern emerged near $5.946, suggesting a potential reversal in bearish momentum. A doji appeared near $5.994, indicating indecision and a possible pause in the rally.

Moving Averages

On the 15-minute chart, the price has remained above both the 20- and 50-period SMAs, with the 20 SMA at ~$5.96 and the 50 SMA at ~$5.95. This suggests a short-term bullish bias. On the daily chart, the 50-period SMA stands at ~$5.89, while the 100 SMA is at ~$5.84 and the 200 SMA near $5.79, indicating broader accumulation and a strong upward bias.

MACD & RSI

The MACD line crossed above the signal line during the morning session, signaling increasing bullish momentum. The RSI reached overbought territory at 70+ twice, suggesting a potential pullback or consolidation phase. However, price action remained strong, and the overbought readings did not trigger a bearish divergence, indicating continued buying interest. The RSI currently sits near 62, which is neutral to slightly bullish.

Bollinger Bands

Bollinger Bands widened significantly during the rally, particularly after the breakout above $5.97. Price has remained within the upper band during the afternoon and evening, indicating high volatility and strong buyer participation. A contraction in the bands was observed earlier in the morning, followed by a breakout—classic volatility expansion preceding a directional move.

Volume & Turnover

Trading volume spiked during key breakout hours, with a notable surge in the 18:00–20:00 ET window, where volume reached nearly 16,385 MOVR in a single 15-minute interval. Notional turnover mirrored this, with the highest turnover occurring as price moved above $5.97. There is no significant divergence between price and volume, reinforcing the strength of the move.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from $5.700 to $6.008, the 61.8% level aligns with $5.946, where a bullish engulfing pattern formed and buying interest picked up. The 38.2% level at $5.979 also saw strong volume and a key support breakout. On the daily chart, the 61.8% retracement from a recent swing aligns near $5.89, which has held as a critical psychological level.

Backtest Hypothesis

Given the bullish engulfing pattern at a key Fibonacci support and the divergence-free RSI and volume, a potential backtest strategy could be to enter a long position upon the close above $5.946, with a stop-loss below $5.916 and a target of $6.008. This setup combines pattern confirmation, retracement alignment, and momentum validation, making it a high-probability trade in a favorable market context.