ANKR/Tether (ANKRUSDT) 24-Hour Market Overview

• ANKRUSDT declined from a high of $0.01098 to $0.01014, with bearish momentum evident in late-night selling.
• Volume surged to 7.4 million at 09:15 ET, coinciding with a sharp price drop, signaling bearish conviction.
• RSI remains in oversold territory (<30), suggesting potential short-term rebound, but trend remains bearish.
• Key support around $0.0101–$0.0102 holds; break below risks extension to $0.0099–$0.0098 levels.

At 12:00 ET on 2025-10-22, ANKR/Tether (ANKRUSDT) opened at $0.01083, hit a high of $0.01098, and closed at $0.01018. Total volume over 24 hours was 74,708,651 tokens, with notional turnover averaging $747,000–$1.1M per 15-minute interval.

The price action shows a descending broadening pattern, with key bearish signals emerging after 04:00 ET. A sharp drop from $0.01036 to $0.01014 over three candlesticks (09:15–10:15 ET) reflected heightened bearish pressure, driven by a massive volume spike of 7.4 million ANKR and a candle close at $0.01018. This move suggests a short-term exhaustion of bullish momentum. Support levels are forming at $0.01018 (current close), $0.01014 (recent low), and $0.00997 (20-period low). Resistance appears near $0.01023 and $0.01030, which were previously broken with fading conviction.

Bollinger Bands indicate moderate volatility contraction in the early hours, followed by expansion after the 09:15 ET sell-off, suggesting a shift in sentiment. The 20-period and 50-period moving averages are bearishly aligned, with the price closing below both. RSI hit 28 near 09:15 ET, indicating oversold conditions, but without a bullish reversal pattern, a rebound is likely to be short-lived. MACD turned negative after 09:00 ET, confirming bearish momentum. The 61.8% Fibonacci retracement level of the last 15-minute swing is now at $0.01016, which could serve as a temporary floor before further downside is explored.

Price may find temporary support at $0.01014–$0.01016 in the next 24 hours, but the broader bearish bias remains intact. A sustained close below $0.0101 could trigger renewed distribution pressure toward $0.0099–$0.0098 levels.

Backtest Hypothesis
A potential backtest could focus on detecting and validating the effectiveness of Bearish Engulfing candlestick patterns in ANKRUSDT. While we could not retrieve the pattern occurrences due to data-source constraints, the hypothesis would test: (1) whether a Bearish Engulfing pattern, when confirmed by volume and RSI divergence, reliably predicts a 3–5% downward move over the following 24 hours, and (2) if a stop-loss placed above the engulfing candle’s high improves risk/reward. Historical testing would also evaluate how these signals perform against the prevailing trend context—here, a strong bearish bias.