Spell Token/Tether (SPELLUSDT) Market Overview

Summary
• Price formed bullish engulfing patterns at 0.000249 and 0.000252, suggesting potential short-term reversals.
• MACD crossed zero line with positive momentum, while RSI approached overbought territory.
• Bollinger Bands widened during late ET hours, indicating rising volatility and consolidation.
• Volume surged near 0.000255–0.000261, confirming breakout attempts with strong notional turnover.
• Key 5-min support at 0.000249 and resistance at 0.000254 tested multiple times with mixed outcomes.

Spell Token/Tether (SPELLUSDT) opened at 0.0002506 on 2026-01-01 12:00 ET, reached a high of 0.0002614, a low of 0.0002481, and closed at 0.0002591 on 2026-01-02 12:00 ET. Total volume amounted to 414,296,462.0 with a notional turnover of 104,930.30.

Structure & Formations

The price showed a clear bullish bias throughout the day, particularly after forming a bullish engulfing pattern at 0.000249 and a second at 0.000252. A strong 5-min reversal at 0.000259 confirmed buyers stepping in after a key breakout.

Moving Averages

On the 5-minute chart, the 20-EMA outpaced the 50-EMA, reinforcing upward momentum. No daily MAs were breached, but the 200-day MA may act as a psychological floor.

MACD & RSI

The MACD crossed the zero line in positive territory and showed widening histogram bars, signaling growing bullish momentum. RSI approached overbought territory (72–75) in late ET hours, suggesting possible near-term pullbacks.

Bollinger Bands

Bollinger Bands contracted briefly around 0.000250 before expanding sharply in the evening, suggesting a breakout attempt. The price hovered near the upper band during the last 6 hours of the session.

Volume & Turnover

Volume spiked in the 0.000255–0.000261 range with a corresponding increase in notional turnover, supporting the validity of the breakout. No notable divergence was observed between volume and price.

Visual Analysis

Fibonacci Retracements

Fibonacci levels from the 0.0002481 to 0.0002521 swing showed a 61.8% retracement at 0.000250, where the price stalled before surging past key resistance.

The price appears to be testing a new short-term equilibrium with growing buyer participation. However, overbought RSI and widening bands suggest a pullback could occur in the next 24 hours. Investors should monitor volume dynamics and key 5-minute levels for confirmation of a breakout or consolidation.