Algorand/Tether USDt Market Overview

• Price rose sharply in the early morning before consolidating around 0.2404–0.2417
• Momentum remained positive with RSI above 50 and MACD in bullish territory
• Volatility expanded during the 0400–0600 ET surge, with volume peaking at ~1,032k
• A bearish reversal pattern emerged in the late afternoon following a sharp pullback
• Bollinger Bands widened during the move up, signaling increased uncertainty

Algorand/Tether USDt (ALGOUSDT) opened at 0.2387 on 2025-09-10 12:00 ET, reached a high of 0.2445, a low of 0.2351, and closed at 0.2390 on 2025-09-11 12:00 ET. The pair recorded a total volume of 13,226,835 and a turnover of ~$3,065,000 over the 24-hour window.

Structure & Formations

Price found strong support at the 0.2351–0.2355 level during the mid- to late-afternoon sell-off, followed by a sharp rebound into the overnight session. A bullish reversal pattern emerged as buyers stepped in near 0.2355 and pushed price back above 0.2390. A bearish engulfing pattern formed in the late afternoon (19:30–20:00 ET), coinciding with a sharp drop from 0.2369 to 0.2355. This was followed by a bullish engulfing pattern in the early morning session (04:30–04:45 ET) as price surged from 0.2407 to 0.2415. A doji formed at 0.2405–0.2406 during the 07:00–07:15 ET consolidation, signaling indecision.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA in the early morning, confirming a short-term bullish bias. By mid-morning, the 20 MA had dipped below the 50 MA as buyers faded. Over the daily chart, the 50 MA crossed above the 100 MA, indicating a longer-term bullish setup. The 200 MA remained below the 50 MA, suggesting that the overall trend remains neutral to slightly bullish.

MACD & RSI

The MACD turned positive in the early morning, staying above the signal line for much of the session, indicating sustained bullish momentum. The RSI climbed to 58 by the early morning, then pulled back to 54 by mid-day, signaling moderate strength without overbought conditions. A bearish divergence appeared in the late afternoon as RSI hit 51 while price hit a 24-hour low, hinting at short-term exhaustion.

Bollinger Bands

Volatility expanded significantly from 04:00–06:00 ET, with price moving from the lower band to the upper band. By 06:30 ET, the bands had started to contract, indicating reduced uncertainty. Price closed near the middle band, suggesting a possible continuation of the current consolidation.

Volume & Turnover

Volume spiked to over 1,032k during the early morning rally (11:15–11:30 ET) as buyers pushed price from 0.2413 to 0.2437. This was followed by a significant volume spike (4.48m) during the 12:45 ET reversal candle, where price dropped from 0.2439 to 0.2404. This divergence between bullish price action and bearish volume signaled a potential short-term top.

Fibonacci Retracements

On the 15-minute chart, the 0.2351–0.2441 move showed price testing the 61.8% level (0.2417) and the 50% level (0.2396). On the daily timeframe, the recent rally from 0.2351 to 0.2441 aligned with the 61.8% retracement level, with price currently consolidating around the 50% level (0.2396).

Backtest Hypothesis

The backtesting strategy involves entering a long position when price breaks above the 50-period MA on the 15-minute chart, with a stop-loss placed below the 20-period MA. A take-profit is set at the 61.8% Fibonacci level of the most recent swing. This aligns with the morning’s bullish breakout and the strong volume confirmation, suggesting the strategy may work well in low-latency, high-volume environments. However, the late afternoon divergence and bearish engulfing pattern imply that the strategy should be used with caution if entering during consolidation.