Tether/Zloty Market Overview

• Price drifted higher by ~0.30% on the back of rising buying pressure in late ET hours.
• RSI hovered near 55, suggesting a balanced momentum profile without clear overbought/oversold extremes.
• Volatility remained constrained, with Bollinger Bands narrowing slightly in overnight sessions.
• Volume was elevated during the 07:00–09:00 ET window, coinciding with a sharp 0.35% price jump.
• No decisive reversal patterns were observed, though a bullish engulfing pattern emerged mid-day.

Market Snapshot

Tether/Zloty (USDTPLN) opened at 3.697 at 12:00 ET − 1 and closed at 3.71 at 12:00 ET. The 24-hour range was 3.693–3.712. Total volume traded was 205,688.00 units, with a notional turnover of approximately 761,302.62 PLN. The market exhibited a modest net upward drift, with most of the buying pressure emerging in the 6:00–10:00 ET window.

Structure & Formations

Price action in the last 24 hours was characterized by a slow accumulation phase with a few key resistance levels. The 3.700 level acted as a psychological support in the early part of the day before the price broke through and found temporary resistance at 3.706. A bullish engulfing pattern formed around 07:45 ET as the price closed higher than the prior 15-minute candle. The 3.708 level appears to have capped the upward movement for a short while, and a small doji at 13:00 ET suggests indecision. A minor support appears to be forming around 3.702 after multiple attempts to test and bounce off that level.

Moving Averages and Momentum

On the 15-minute chart, the 20-period moving average crossed above the 50-period line in the late ET hours, indicating a short-term bullish bias. The 50-period moving average remained flat, while the 20-period line sloped upward. For the daily chart, the 50-period MA is above the 100-period and 200-period lines, maintaining a bullish structure. The RSI (14-period) has been in the mid-50s, indicating a balanced momentum profile without overbought or oversold conditions.

Volumes and Turnover Divergences

Volume spiked during the 07:45–08:00 ET window and again in the 10:45–11:00 ET hour, corresponding to price surges of 0.35% and 0.23%, respectively. The highest turnover was observed in the late ET morning, with strong participation in the 3.706–3.710 price band. There was a slight divergence in volume in the 16:00–16:15 ET window, where the price declined slightly but volume remained elevated, possibly indicating a test of support.

Bollinger Bands and Volatility

Volatility remained relatively tight, with the Bollinger Bands narrowing during the overnight session and expanding modestly during the ET morning. The price remained within the bands for most of the period, suggesting a lack of extreme volatility. A contraction in the bands at 04:00 ET may indicate a potential setup for a breakout, though no strong confirmation of a directional move was observed.

Backtest Hypothesis

Given the recent price behavior and confirmed support/resistance levels, a potential backtesting strategy could involve a short-term long entry at the 3.702 level, with a stop loss below 3.698 and a take-profit target at 3.714, based on the recent 61.8% Fibonacci retracement from the 3.693–3.712 swing. The RSI remains in a neutral range, suggesting that a breakout from this consolidation could be confirmed with a close above 3.706 on increasing volume.