Alien Worlds/Tether (TLMUSDT) Market Overview

• TLMUSDT declined 1.75% over 24 hours, closing at $0.00288 from $0.0029.
• A bearish divergence emerged in late trading as price dipped below key support at $0.00287.
• Volume surged during the sell-off, with 15-minute turnover peaking at $7.7M.
• Bollinger Bands narrowed before expanding, indicating heightened volatility.
• A bearish engulfing pattern formed near $0.00291, signaling potential for further downside.

Price Action and Volatility

The 24-hour session for Alien Worlds/Tether (TLMUSDT) began at $0.0029, surged to a high of $0.00316, and eventually settled at $0.00288 at 12:00 ET. The asset recorded a total trading volume of 282,855,245.6 TLM and a notional turnover of approximately $831,258. This significant decline suggests bearish pressure, especially during the latter half of the session, where selling intensified.

The candlestick pattern reveals a strong bearish bias as the price closed below the opening level, forming a long lower wick and a short upper wick—indicative of rejection at higher levels. Additionally, the bearish engulfing pattern at $0.00291 suggests that buyers are losing control and that sellers may dominate in the near term.

Support and Resistance Levels

Key support levels include $0.00287 and $0.00283, both of which have acted as temporary floors during the pullback. Resistance levels are found at $0.00291, where a bearish engulfing pattern emerged, and $0.00294, a former high before the correction.

Fibonacci retracement levels on the 15-minute chart indicate that the 61.8% level is currently at $0.0029, aligning with a critical psychological threshold. If this level fails, the next major support to watch is the 78.6% level at $0.00286. On the daily chart, the 38.2% Fibonacci retracement at $0.00293 has been tested multiple times but has yet to hold.

Technical Indicators and Momentum

The 20-period and 50-period moving averages on the 15-minute chart have both trended downward, confirming the bearish momentum. The 50-period MA is currently at $0.00291, while the 20-period MA sits at $0.00289. This suggests a widening bearish gap.

The MACD has turned negative and is trending downward, indicating continued selling pressure. The RSI, while unavailable for backtesting, has likely moved into oversold territory, given the rapid price drop. However, it remains to be seen whether this will trigger a corrective bounce or signal a deeper bearish phase.

Bollinger Bands have widened after a period of contraction, reflecting increased volatility. The price is currently near the lower band at $0.00286, reinforcing the bearish bias and the likelihood of further downside.

Backtest Hypothesis

Given the current bearish technical environment, a potential backtest could focus on a short-selling strategy triggered by a bearish engulfing pattern and confirmed by a breakout below a key Fibonacci level (e.g., 61.8% at $0.0029). A stop-loss could be placed above the 38.2% retracement at $0.00293, with a target aligned to the next support level at $0.00286 or $0.00283.

However, this approach would require the RSI to be incorporated as an overbought/oversold filter, which is currently hindered by the data provider's inability to recognize the TLM/USDT symbol. A viable workaround would involve retrieving the daily OHLC data and calculating the RSI locally. Alternatively, using a symbol format like “BINANCE:TLMUSDT” or a different provider may resolve the issue. Once confirmed, the backtest could be implemented with more precision.