Bonfida/Tether Market Overview

• FIDAUSDT declined from 0.0825 to 0.0817, signaling bearish momentum with moderate volume.
• Key support at 0.0802–0.0805 showed strength during overnight trading, with a bullish reversal attempt.
• Volatility contracted in early hours but expanded during Asian trade, signaling increased uncertainty.
• RSI below 50 and MACD in negative territory suggest short-term bearish bias with potential for oversold levels.
• Bollinger Bands indicate price near the lower band, hinting at possible near-term rebound or continuation.

FIDAUSDT opened at 0.0817 on 2025-09-23 at 12:00 ET, reached a high of 0.0825, and closed at 0.0817 on 2025-09-24 at 12:00 ET with a low of 0.0801. Total volume traded over the past 24 hours was 13,186,544.5, and the total turnover was 1,063.8. Price action shows a bearish consolidation pattern amid mixed momentum.

Structure & Formations

Price formed multiple bearish patterns such as a hanging man and bearish engulfing during early trading hours, particularly between 16:00 and 18:00 ET on 2025-09-23. A key support level appears at 0.0802–0.0805, which held during overnight trade. A potential resistance zone between 0.0815 and 0.0818 was tested multiple times but failed to break, indicating a lack of bullish conviction. The price may test this range again in the near term.

Moving Averages

On the 15-minute chart, the 20-period MA (0.0813) crossed below the 50-period MA (0.0815), indicating bearish short-term sentiment. On the daily chart, the 50-period MA (0.0814) appears to be a dynamic resistance level, while the 100-period MA (0.0817) and 200-period MA (0.0815) are converging, signaling potential consolidation. Price may struggle to move above 0.0818 without a strong breakout.

MACD & RSI

MACD remains in negative territory with a bearish crossover, reinforcing the downward bias. RSI has dipped to ~45 and shows signs of bottoming out, suggesting a possible short-term bounce. However, without a clear break above 0.0818, a deeper pullback to 0.0802–0.0805 remains a risk. Overbought conditions are unlikely until a reversal is confirmed.

Bollinger Bands

Bollinger Bands indicate a moderate contraction in volatility during early hours, which then expanded during Asian trade. Price recently closed near the lower band at 0.0803, suggesting a possible rebound. However, the bands remain wide, indicating ongoing uncertainty. A breakout above the upper band would signal renewed bullish momentum.

Volume & Turnover

Volume surged during the Asian and European sessions, particularly between 03:00 and 08:00 ET on 2025-09-24, indicating increased selling pressure. Notional turnover also spiked during this period, confirming the bearish bias. However, a divergence appeared between volume and price during the 09:00–10:00 ET period, where volume was lower despite a modest price rebound, suggesting possible exhaustion.

Fibonacci Retracements

Recent swings show the 61.8% Fibonacci retracement at 0.0812 as a key support zone, which was tested and held during overnight trading. The 38.2% level at 0.0816 acts as a resistance barrier, and price may struggle to break through without a significant bullish catalyst. A breakdown below 0.0802 could target the 0.0795 level.

Backtest Hypothesis

The backtest strategy involves a short bias on FIDAUSDT when price breaks below the 50-period MA with confirmation from a bearish MACD crossover and RSI dipping below 50. A stop-loss is placed above the 20-period MA, and the target is set at the next Fibonacci support level. The strategy aims to capture short-term bearish moves while managing risk via tight stops. This setup aligns with the current bearish momentum and consolidation pattern observed in the 24-hour data.