Voxies/Tether Market Overview

• Price tested key levels, forming bearish reversal patterns near 0.0514–0.0518.
• Volatility expanded mid-day, with volume surging during sharp 15-minute rallies.
• RSI signaled overbought conditions multiple times, suggesting potential correction.
• Bollinger Bands showed tightening before breakout, hinting at trend continuation.
• Turnover diverged from price, indicating mixed sentiment despite directional moves.

Voxies/Tether (VOXELUSDT) opened at 0.0513 on 2025-10-06 12:00 ET, reached a high of 0.0527, a low of 0.0488, and closed at 0.0490 by 12:00 ET on 2025-10-07. Total volume over 24 hours was 19,629,187, and turnover reached $1.02 million, showing active trading with bearish consolidation in the final hours.

Structure & Formations

The 15-minute chart displayed multiple bearish reversal patterns including a shooting star at 0.0527 and a bearish engulfing pattern at 0.0518. A significant bear flag formation emerged around 0.0514–0.0518, suggesting exhaustion in the bull side. Key support levels include 0.0510, 0.0505, and 0.0492, while resistance is clustered near 0.0518 and 0.0523. A potential bullish pinbar at 0.0490 could signal a short-term bounce.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages showed a bearish crossover (death cross) during the afternoon, confirming a shift in momentum. The 50-period line remained above the 100 and 200-period lines on the daily chart, indicating continued bearish bias. Price remained below all key MAs for most of the session, reinforcing a downtrend.

MACD & RSI

MACD crossed below the signal line multiple times, indicating bearish momentum. RSI reached overbought levels near 0.0527 and 0.0523 but failed to sustain above 70, leading to bearish divergence. The indicator later dipped into oversold territory (below 30) around 0.0492, hinting at potential short-term rebounds, though confirmation is needed.

Bollinger Bands

Volatility expanded sharply during the morning session as price broke the lower band at 0.0507, signaling a possible continuation of the bearish trend. Later in the afternoon, price moved back into the middle band, suggesting stabilization. A tightening of the bands before 15:00 ET preceded a sharp downward move, indicating a likely continuation of the bearish bias.

Volume & Turnover

Volume spiked during the morning and afternoon sessions, particularly around the 0.0527 and 0.0523 levels, confirming bearish conviction. However, turnover diverged from price in the final hour, with turnover declining despite a sharp drop in price, suggesting weaker follow-through from bears and potential exhaustion.

Fibonacci Retracements

Applying Fibonacci to the key 0.0527–0.0492 swing, the 61.8% retracement level sits at 0.0507, where price tested and bounced twice. The 38.2% level is at 0.0514, which held as resistance during multiple attempts to reclaim it. A break above 0.0518 could target the 78.6% level at 0.0523, but this appears unlikely without strong volume support.

Backtest Hypothesis

Based on the observed patterns and behavior, a potential backtesting strategy could involve a bearish breakout entry short strategy: entering on a break below the 15-minute Bollinger Band lower boundary, confirmed by a bearish engulfing pattern and a close below the 50-period MA. Stop-loss could be placed above the nearest resistance (0.0518), with a target near 0.0492–0.0488. This setup aligns with the bearish momentum and divergence seen in RSI and MACD, making it a viable short-term trading hypothesis.