Defi App/Tether (HOMEUSDT) Market Overview: Bullish Momentum Continues into 2025-11-01

• HOMEUSDT rose 0.79% in 24 hours, closing near its high on increased volume and positive momentum.
• Strong bullish momentum emerged after 19:00 ET as price surged above prior resistance levels.
• Volatility expanded during the Asian and U.S. sessions, with volume surging past 8 million contracts.
• RSI and MACD confirmed the uptrend, with no overbought warning yet, suggesting room for further gains.
• Key support is near 0.02160, and resistance at 0.02280, with a likely pullback expected after the recent break.

Market Activity and Immediate Outlook

At 12:00 ET on 2025-11-01, Defi App/Tether (HOMEUSDT) opened at 0.02161, surged to a high of 0.02303, and closed at 0.02300, with a low of 0.02126. Total volume reached 11.2 million contracts, and notional turnover amounted to $263,000. The price action showed a clear shift in sentiment, particularly after 19:00 ET, when a strong bullish engulfing pattern broke above key resistance levels.

Structure & Formations

The chart displayed several key support and resistance levels. The 0.02160–0.02180 zone acted as a critical support cluster, successfully tested and rebounded from multiple times. Resistance emerged at 0.02280 and 0.02300. A notable bullish engulfing pattern formed around 19:00 ET, confirming a breakout and indicating a potential continuation of the upward trend.

Technical Indicators and Momentum

The 20-period and 50-period moving averages on the 15-minute chart aligned with the upward trend, with the 20-period MA slightly above the 50-period MA, signaling a bullish bias. MACD turned positive and crossed above the signal line, supporting the upward move. RSI climbed to 52, suggesting the pair is still in an accumulation phase without entering overbought territory. Bollinger Bands showed a recent widening, indicating increased volatility and strong directional momentum.

Volume and Turnover Dynamics

Volume surged sharply after the 19:00 ET breakout, with a 15-minute candle posting over 1.1 million contracts and $26,000 in turnover. This confirmed the strength of the bullish signal. Notional turnover also spiked to over $26,000 in that period, aligning with the price action and reinforcing the breakout's credibility. A divergence between volume and price was observed earlier in the day, but this was resolved by the strong close.

Key Levels and Fibonacci Retracements

Fibonacci retracements applied to the major swing low at 0.02126 and the high at 0.02303 identified key levels. The 61.8% retracement at 0.02237 and the 38.2% retracement at 0.02215 acted as potential support and resistance zones. Price is currently testing the 0.02300 level, with a potential pullback to 0.02260–0.02270 appearing likely before a possible retest of the highs.

Backtest Hypothesis

To validate the continuation potential of the current bullish trend, a backtesting strategy can be applied. This strategy involves entering a long position at the next open after a confirmed Bullish-Engulfing pattern forms. The exit would occur at the first close above the engulfing pattern’s high or at the end of the test period if that threshold is not met. This approach aligns with the recent engulfing pattern observed and is supported by MACD and RSI signals. For benchmarking, results can be compared to the HOLD.P ETF to assess relative performance.