CHRUSDT Breaks Down Below $0.028 — With Volume to Match

Summary
• Price fell from $0.0299 to $0.0274 after a bearish breakdown in late ET hours.
• Strong volume and turnover suggest increased selling pressure during key declines.
• A bearish engulfing pattern formed around 06:45 ET as price dropped 0.0005.
• RSI near 28 implies short-term oversold conditions but no immediate reversal confirmed.
• Volatility remains elevated with a 16% range, indicating potential for continued choppiness.

Chromia/Tether (CHRUSDT) opened at $0.0291 on 2026-02-06 12:00 ET, peaked at $0.0299, and closed at $0.0274 at 12:00 ET on 2026-02-07. The 24-hour volume was 15,669,164.0, with a total turnover of $439,214.60.

Structure & Moving Averages

Price action showed a bearish bias following the breakdown of the $0.0284–$0.0286 level. A 50-period moving average on the 5-min chart fell below the 20-period line, suggesting short-term bearish momentum. Daily MAs remained neutral, with no clear trend in major timeframes. A strong support zone appears to be forming around $0.0274–$0.0276, with key resistance levels at $0.0283 and $0.029.

MACD & RSI Analysis

MACD turned negative after 06:45 ET, confirming bearish momentum. The RSI fell to 28 during the late ET sell-off, indicating short-term oversold conditions. However, no immediate reversal signals have emerged. A rebound above $0.0283 may bring buying interest, but a close above $0.0286 could re-engage bulls.

Bollinger Bands & Volatility

Bollinger Bands expanded as price moved lower, with volatility peaking after 06:45 ET. Price settled near the lower band at $0.0274, suggesting a high probability of a bounce or consolidation. However, a break below the lower bound could extend the range further.

Volume and Turnover

Volume surged during the key selloff between 06:45 and 07:30 ET, reaching a peak of 1.5M at 07:00 ET. Notional turnover spiked to $43,612.63 as price dropped from $0.0283 to $0.0279. The divergence between volume and price during the rebound from $0.0274 to $0.0278 suggests weak conviction in the near-term bounce.

Fibonacci Retracements

On the 5-min chart, the $0.0277–$0.0279 zone corresponds to the 61.8% retracement level from the $0.0274 low to the $0.0283 high. A test of the 78.6% retracement at $0.0285–$0.0286 could happen if buyers return, but bearish bias remains intact.

The market appears to be in a consolidation phase after the sharp selloff. A close above $0.0283 may encourage near-term buyers, but a retest of the $0.0274 level could trigger further downside. Investors should monitor volume and order flow during the next 24 hours for signs of reversal or continuation.