Bonfida/Tether (FIDAUSDT) Market Overview – October 3, 2025

• Price action on FIDAUSDT shows a bullish reversal pattern at 0.0828.
• Momentum appears to stabilize as RSI moves out of oversold territory.
• Volatility dipped mid-day but rose again with a late surge in volume.
• Turnover spiked at 19:15 ET and again at 16:00 ET, confirming trend strength.
• Bollinger Bands show recent price activity expanding beyond the upper band.

Overview of 24-Hour Performance

Bonfida/Tether (FIDAUSDT) opened at 0.0828 on October 2, 2025 (12:00 ET-1), reached a high of 0.0857, fell to a low of 0.0828, and closed at 0.0831 on October 3, 2025 (12:00 ET). The total trading volume for the 24-hour period was 20,492,774.1 with a turnover of approximately $1,620,421.21 (assuming a notional conversion of 1 FIDA = 0.0831 USD at closing).

Structure & Formations

The 15-minute OHLCV data reveals a key support level forming around 0.0828, where the price tested multiple times before reversing upward. A bullish engulfing pattern formed at 16:00 ET-1, followed by a confirmed reversal at 19:15 ET as the price surged past 0.085. The 20-period and 50-period moving averages on the 15-minute chart crossed during the afternoon, suggesting a potential shift in trend.

Moving Averages and Momentum

The 20-period moving average (20-MA) crossed above the 50-period moving average (50-MA) at 19:00 ET, forming a golden cross, which typically indicates a short-term bullish signal. The RSI has moved from 27 (oversold) to 53 in the last 24 hours, suggesting momentum is shifting in favor of the bulls. The MACD line (12,26) crossed above the signal line, reinforcing the upward bias.

Bollinger Bands and Volatility

Volatility remained constrained in the morning with prices within a narrow Bollinger Bands range. However, by late afternoon, the bands expanded as prices surged past the upper band, indicating increased bullish pressure. The current price sits near the upper band, a sign of overbought conditions but also a potential continuation signal if buyers remain strong.

Volume and Turnover

Volume spiked significantly at 19:15 ET (223000 candle), with a large amount of 272847.9 at 0.0856, and again at 16:00 ET (191500 candle), with 321759.6 at 0.0857. These spikes were accompanied by sharp price increases, indicating strong buyer participation. The notional turnover also rose in these periods, confirming the strength of the upward move.

Fibonacci Retracements and Key Levels

Applying Fibonacci levels to the recent swing from 0.0828 to 0.0857, the 61.8% retracement level is currently around 0.0843. The price has shown resistance near 0.085, and the 50% retracement at 0.0842 appears to be a key support/resistance cluster.

Backtest Hypothesis

The backtesting strategy outlined involves entering long positions when the 20-MA crosses above the 50-MA on the 15-minute chart (golden cross), with an exit at the 50% Fibonacci retracement level or when the RSI hits overbought territory. This approach assumes that trend continuation is more likely in a strong bullish phase, as seen in the recent surge. A trailing stop could be placed below the 61.8% retracement level to manage risk while allowing for upside participation.