Bonfida/Tether (FIDAUSDT) Market Overview for October 28, 2025

• FIDAUSDT traded in a tight range with a 0.0617–0.0632 swing before consolidating near 0.0615–0.0618.
• Volume spiked during the 17:00–19:30 ET range but failed to push price beyond key resistance at 0.0632.
• Bollinger Bands showed a period of low volatility followed by expansion as price drifted lower.
• No clear reversal patterns formed, but bearish momentum increased in the last 6 hours.
• Turnover remained moderate, with no signs of large whale activity or wash trading.

24-Hour Snapshot

Bonfida/Tether (FIDAUSDT) opened at $0.0617 on October 27 at 12:00 ET, reached a high of $0.0632, and closed at $0.0615 on October 28 at 12:00 ET. Total volume amounted to 14,621,673.1, with a notional turnover of $898.69. Price action reflected a bearish bias in the final 6 hours, with consolidation below key resistance levels indicating a lack of conviction in the short-term.

Structure & Formations

The price action formed multiple bearish structures in the final 6 hours of the 24-hour period, including a bearish engulfing pattern and a small doji near $0.0615. Support at $0.0611–0.0614 has held three times in the last 12 hours, suggesting short-term buyers may defend this level. Resistance at $0.0618–0.0622 has failed to hold, with price retreating below these levels after three test attempts.

Volatility and Momentum

Bollinger Bands expanded significantly between 19:45 and 20:00 ET, following a period of tight consolidation, as price drifted lower. MACD showed a bearish crossover near $0.0615, reinforcing the downward momentum. While the RSI data could not be retrieved, the price action and MACD suggest the market may be entering oversold territory but has not yet triggered a reversal.

Volume and Turnover

Volume peaked at 997,049.8 between 17:00 and 19:45 ET, coinciding with price testing $0.0632 and retreating. Turnover rose in line with volume, indicating genuine trading activity rather than wash trading. However, in the last 4 hours, volume declined while price remained in a tight range, hinting at a possible lack of follow-through in the bearish move.

Backtest Hypothesis

The RSI data, required for an event-based backtest, could not be retrieved due to a server error. To proceed, one could fetch raw price data for FIDAUSDT and calculate the RSI locally. This approach would allow a more accurate assessment of overbought/oversold conditions and align with the bearish momentum suggested by the MACD and price structure. Alternatively, if a historical list of RSI > 70 events is provided, the backtest could be executed directly.

Forward-Looking View

In the next 24 hours, FIDAUSDT may test $0.0611–0.0613 as key support. A break below this range could trigger further consolidation toward $0.0605–0.0607. However, buyers defending $0.0614–0.0615 may limit downside. Traders should monitor volume for confirmation and be cautious of potential volatility spikes if resistance at $0.0618–0.0622 fails to hold again.