Shiba Inu/Tether (SHIBUSDT) Market Overview: Volatility and Divergence in 24-Hour Action

• Price opened at $0.00001307 and closed at $0.00001301 after a volatile 24-hour range.
• SHIBUSDT tested key support at $0.00001300 and bounced within Bollinger Bands.
• Volume surged to $37.15B in the morning, but price declined, hinting at bearish divergence.
• RSI signaled oversold conditions late in the day, suggesting potential short-term bounce.
• 20-period MA crossed below 50-period MA on 15-min chart, suggesting bearish momentum.

The 24-hour session for Shiba Inu/Tether (SHIBUSDT) started at $0.00001307 on 2025-09-16 12:00 ET and closed at $0.00001301 on 2025-09-17 12:00 ET, reaching a high of $0.00001326 and a low of $0.00001295. Total notional volume for the period was $371.53B, while total turnover amounted to $371.53B in trading activity.

Structure & Formations

The price formed a bearish engulfing pattern in the early morning session, followed by a series of lower highs and lower closes. Key resistance levels emerged around $0.00001326 and $0.00001320, while support held at $0.00001300 and $0.00001295. A doji formed late in the session near $0.00001301, signaling indecision and potential near-term reversal.

Moving Averages

On the 15-minute chart, the 20-period MA crossed below the 50-period MA, indicating a bearish crossover and confirming the downward momentum in the short term. Daily MAs (50, 100, 200) showed a flat to slightly bearish bias, with the 100- and 200-day MAs acting as resistance above current price levels.

MACD & RSI

MACD remained in negative territory with bearish divergence in the histogram as price bounced but MACD continued to decline. RSI dipped below 30 in the final hours, signaling oversold conditions, but failed to trigger a meaningful bullish bounce, suggesting a potential continuation of the downtrend.

Bollinger Bands

Price remained within the Bollinger Band range for the majority of the session, with volatility moderately high. A contraction occurred in the early morning, followed by an expansion, indicating a potential breakout attempt. The closing price of $0.00001301 sat just below the 20-period lower band, hinting at a potential bounce.

Volume & Turnover

Volume spiked to $37.15B during the morning hours but was followed by a sharp drop in price, signaling bearish divergence. Turnover mirrored volume closely, with no significant divergence observed. The late-morning sell-off appears to have been led by large institutional participation, given the volume size.

Fibonacci Retracements

Applying Fibonacci retracement levels to the key swing high at $0.00001326 and low at $0.00001295, the 38.2% level is at $0.00001314 and the 61.8% level is at $0.00001304. Price held above the 61.8% level during the late session, suggesting support may hold in the short term.

Backtest Hypothesis

A potential backtest strategy for SHIBUSDT could leverage the bearish engulfing pattern observed during the early morning and the divergence between price and MACD. A sell signal might be triggered on a close below the 20-period MA with confirmation from a bearish MACD crossover. The 61.8% Fibonacci level and $0.00001300 could serve as initial stop-loss and take-profit targets, respectively. Traders could also monitor the RSI for a retest of oversold levels, which might indicate a short-term bounce rather than a full reversal.