Civic/Tether (CVCUSDT) Market Overview

• Price declined from 0.0878 to 0.0831 with a bearish bias over 24 hours.
• Volume remained above average, but turnover dropped, suggesting reduced conviction in downward moves.
• RSI entered oversold territory near 0.084–0.0835, hinting at potential reversal cues.
• Key support levels formed at 0.0845 and 0.0833, with 0.0831 as a new low.
• MACD showed bearish divergence as price fell further despite shrinking momentum.

The CVCUSDT pair opened at 0.0872 on 2025-10-03 12:00 ET and closed at 0.0831 on 2025-10-04 12:00 ET, with a high of 0.0878 and a low of 0.0831. Over the 24-hour period, total volume reached 6,381,900 and turnover was approximately $523,070 (calculated as volume × price). The pair experienced a bearish trend, with bearish engulfing patterns and a breakdown below key support levels.

Structure & Formations

CVCUSDT formed multiple bearish engulfing patterns during the drop from 0.0878 to 0.0831, indicating strong selling pressure. Key support levels are now at 0.0845 and 0.0833, while the most recent low at 0.0831 could act as a short-term pivot. Resistance levels may form at 0.0848 and 0.0852, with potential for a consolidation pattern should prices rebound.

Moving Averages and MACD / RSI

The 15-minute chart shows the price below both 20-EMA and 50-EMA, indicating a bearish bias in the short-term. MACD remains in negative territory, with the histogram shrinking slightly, suggesting weakening bearish momentum. RSI has entered oversold territory at the 0.084–0.0835 range, suggesting a possible retracement could be in play. However, RSI remains below 30, indicating caution.

Bollinger Bands and Fibonacci Levels

Price action has remained within the Bollinger Band range but has been compressing toward the lower band, indicating reduced volatility and potential for a bounce or a breakdown. On the 15-minute chart, price is near the 61.8% Fibonacci retracement level from the 0.0878 high to the 0.0831 low, which could act as a key support level. On the daily chart, this low may align with the 78.6% level of a prior move, signaling a potential turning point.

Volume and Turnover Trends

Volume remains relatively strong during key breakdowns, particularly near 0.0863 and 0.0851, supporting the bearish trend. However, notional turnover has been declining, indicating less conviction in each downward move. Divergence is evident in the late hours of the 24-hour period, with rising volume not matching the magnitude of price declines. This suggests weakening bearish pressure.

Backtest Hypothesis

A potential backtesting strategy involves entering long positions when price closes above the 61.8% Fibonacci level (currently near 0.084–0.0845) while RSI is in oversold territory and the 50-EMA crosses above the 20-EMA. Stop-loss could be placed below 0.0831, and take-profit near 0.0852. This approach would align with reversal signals observed in the current chart, using volume and Fibonacci retracement as key entry confirmation tools.