1inch/Tether Market Overview

• Price declined sharply from 0.2684 to 0.2576, with oversold RSI indicating potential near-term bounce.
• Daily candlestick structure suggests a breakdown after a strong bearish reversal pattern late yesterday.
• Volume surged during the 13:45–14:00 ET session, coinciding with a sharp selloff and high turnover.
• 1INCHUSDT remains below all key moving averages, with Bollinger Bands showing increasing volatility.
• Fibonacci levels at 0.2599 and 0.2561 could serve as key support targets and potential bounce points.

1INCHUSDT opened at 0.2647 on 2025-10-06 at 12:00 ET, reaching a high of 0.2684 and a low of 0.254 before closing at 0.2555 on 2025-10-07 at 12:00 ET. The total traded volume over 24 hours was 6,143,684.9, with a notional turnover of approximately 1,623.7 USDT. Price action reflected strong bearish momentum and volatility expansion.

Structure & Formations

The past 24 hours displayed a strong bearish continuation, with a key breakdown occurring after a long wick on the 13:45–14:00 ET candle, which closed at 0.2576. A bearish engulfing pattern emerged in this period, confirming the move lower. Notable support levels include 0.2599 (38.2% Fib), 0.2576 (recent low), and 0.2561 (61.8% Fib). Resistance is currently at 0.2594, and a retest of this level could determine the next directional bias. A long lower shadow on the 15:00–15:15 ET candle suggests some accumulation pressure, but it remains below key psychological levels.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages remain bearishly aligned, with price well below both. On the daily chart, the 50/100/200 EMA triple crossover is strongly bearish, with price failing to hold above the 200 EMA. This suggests continuation of the bearish trend is more probable than reversal in the short term.

MACD & RSI

The RSI dropped below 30 during the 13:45–14:00 ET session, signaling oversold conditions. However, price failed to rebound, indicating weak conviction in a near-term bounce. The MACD remains in negative territory, with bearish divergence observed as price lows have continued to fall while the MACD lows have not accelerated. Momentum appears to be improving slightly in the final hours of the 24-hour period, but not enough to confirm a reversal.

Bollinger Bands

Bollinger Bands expanded significantly during the 13:45–14:00 ET selloff, with price dropping to the lower band. This is a sign of increased volatility and bearish continuation bias. The subsequent retracement has brought price back to the middle band, suggesting potential for a short-term bounce, though a strong close above the upper band is unlikely without increased buying pressure.

Volume & Turnover

Volume spiked during the 13:45–14:00 ET session, coinciding with the largest price drop in the 24-hour period. This volume was confirmed by a sharp drop in turnover, indicating aggressive selling rather than accumulation. Divergence between the last hour’s volume and price action suggests caution in interpreting any immediate reversal signs. The final 15-minute candle before the 12:00 ET close saw volume increase and price attempt a modest rebound, but this failed to confirm a reversal.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent bearish swing from 0.2684 to 0.254, key levels include 0.2599 (38.2%), 0.2582 (50%), and 0.2561 (61.8%). Price is currently testing 0.2561, a potential area of strong support. A break below this level could open the door to further declines toward 0.254. On the daily chart, the 61.8% Fib level appears to have been rejected, reinforcing the bearish bias.

Backtest Hypothesis

The provided backtest strategy is based on a combination of RSI overbought/oversold levels, Bollinger Band breakouts, and volume confirmation. A hypothetical entry would be triggered when price falls to the 61.8% Fibonacci level and RSI shows oversold conditions, with additional confirmation from volume spikes. A stop-loss would be placed slightly below this level, and a take-profit target could be set at the 38.2% Fib level or the 50-period EMA. Given the current price action, a backtest of this strategy would likely show limited effectiveness without a strong reversal signal confirming the setup.