BLURUSDT Breaks Key Resistance — But Bounces May Be Brewing Near 0.0203

Summary
• Price action shows a bearish breakdown from key resistance near 0.02107 to 0.0203.
• Volume and turnover confirm downward momentum with divergences near 0.02095.
• RSI and MACD indicate oversold conditions near 0.0203, suggesting short-term bounce potential.
• Bollinger Bands reflect increased volatility during early morning ET, with price near lower band.
• Fibonacci levels at 0.02037 and 0.02024 appear to be critical for near-term direction.

24-Hour Performance

Blur/Tether (BLURUSDT) opened at 0.02095 on February 21, 12:00 ET, and traded as high as 0.02112 before closing at 0.02029 by 12:00 ET February 22. The pair found support near 0.0203 and resistance near 0.02107. Total traded volume was 2,266,258.2, and notional turnover amounted to 46,320.49.

Structure & Key Levels

Price broke below the 0.02107 resistance level, forming a bearish breakout pattern confirmed by declining volume. A large bearish engulfing pattern was visible during the 19:00–19:15 ET window. A potential support zone now appears near 0.0203, where Fibonacci retracement levels and multiple bearish reversals converge.

Momentum and Volatility

The RSI approached oversold territory around 0.0203, hinting at potential short-term rebounds. The MACD line crossed below the signal line during the breakdown, reinforcing bearish momentum. Volatility expanded notably from 03:00–06:30 ET, with price trading close to the lower Bollinger Band, suggesting heightened selling pressure.

Volume and Turnover

Turnover spiked during the breakdown from 0.02107 to 0.02068, confirming bearish conviction. A divergence appeared between price and volume during the 22:00–23:00 ET consolidation phase, suggesting weakening downward momentum.

Forward-Looking Outlook

A test of the 0.02024–0.0203 support zone could trigger a short-term bounce, but a break below 0.02024 would likely lead to 0.02015. Investors should monitor the 0.0205–0.0206 level for potential resistance and watch for a reversal pattern on the 5-minute chart.