1inch/Tether (1INCHUSDT) Market Overview: Volatility, Sell Pressure, and Key Support Levels

• 1inch/Tether (1INCHUSDT) experienced a sharp sell-off after 19:00 ET, reaching a 24-hour low of 0.1036 before stabilizing above 0.14.
• A bearish engulfing pattern emerged post-20:00 ET as price dropped from 0.2382 to 0.1427 within a single 15-minute interval.
• Volatility spiked 10x above average post-21:00 ET, with turnover peaking at $593,227.5 and confirming a large-scale exit.
• RSI bottomed at ~30, suggesting short-term oversold conditions after the sharp decline, but without a clear bullish reversal.
• Price has since found support between 0.184–0.186, with a potential test of that zone expected in the next 24 hours.

1inch/Tether (1INCHUSDT) opened at 0.2433 at 12:00 ET – 1 and hit a high of 0.2457 earlier in the session. It then fell sharply to a low of 0.1036 and closed at 0.1895 by 12:00 ET. Total volume amounted to 29.5 million, and total turnover reached ~$4.9 million across the 24-hour period.

Structure & Formations

Price action revealed a sharp bearish shift around 19:30–20:30 ET, with a bearish engulfing candle forming at 20:30 ET. This pattern confirmed a short-term reversal from a 15-minute high of 0.2393 to a low of 0.2382. Further bearish momentum followed, leading to a breakdown below key support at 0.1850. A recovery since the overnight low has formed a consolidation base between 0.184–0.186, which could serve as either a reversal zone or a continuation pattern. A doji at 04:15 ET and another near 09:45 ET suggest indecision, hinting at potential trend pauses or reversals if volume increases.

Moving Averages and MACD/RSI

On the 15-minute chart, the 20 and 50-period moving averages have been in a bearish crossover since the breakdown at 19:30 ET. The MACD turned negative after 19:00 ET and remains in bearish territory, with no sign of a bullish divergence. RSI bottomed near oversold levels after the sharp fall but has yet to cross above 40. This suggests short-term oversold conditions but not yet a strong reversal signal. On the daily chart, price is below both the 50 and 200-day moving averages, reinforcing a bearish bias.

Bollinger Bands and Volatility

Bollinger Bands expanded dramatically post-19:00 ET, reaching a 15-minute volatility high of 0.0035. The breakdown candle at 19:30 ET closed near the lower band, confirming a breakout. Since then, the bands have contracted, with price hovering within a narrower range of 0.184–0.190. This contraction may indicate a potential breakout or consolidation phase ahead.

Volume and Turnover

Volume spiked sharply at 19:30 ET, with over 593,227.5 contracts traded in a single 15-minute candle, indicating large-scale selling pressure. This was followed by a smaller peak at 21:00 ET with 2.5 million contracts traded. Turnover spiked from ~$0.1 million at 18:00 ET to over $500,000 at 19:30 ET, confirming the breakdown. The subsequent volume has remained elevated but lower than the peak, suggesting a possible exhaustion of selling pressure.

Fibonacci Retracements

Applying Fibonacci to the major 15-minute swing from 0.2457 to 0.1036, key levels include 61.8% at 0.1808 and 38.2% at 0.1963. Price has tested and held above the 61.8% level in the morning, indicating a potential base for a short-term bounce. On the daily chart, a 38.2% retrace of the recent 5-day decline sits at 0.224, with the 61.8% level at 0.215. A break above the 15-minute 38.2% level could signal a short-covering rally.

Backtest Hypothesis

A backtesting strategy based on key Fibonacci retracements and volume divergences could be applied to 1INCHUSDT. Specifically, a trade entry could be triggered when price breaks above the 15-minute 38.2% Fibonacci level (0.1963) on increasing volume, with a stop-loss placed below the 61.8% level. A trailing take-profit might be set at the 50% level or above. Given the recent consolidation and confirmed support at 0.184–0.186, this setup could test the strength of the short-term buyers. The strategy aligns with the observed RSI bottoming and could provide a high-probability trade setup for the next 48 hours if price action confirms a breakout.