FUNToken/Tether Market Overview

• • •

• Price declined from $0.009779 to $0.009282, a 5.1% drop over 24 hours
• RSI dipped below 30 at 15:45 ET, signaling oversold conditions
• Volume surged to 8.18M at 15:45 ET, aligning with the low
• Bollinger Bands show a moderate expansion, suggesting increasing volatility
• A bearish engulfing pattern formed around $0.00973 in the early morning

FUNToken/Tether (FUNUSDT) opened at $0.009748 on 2025-10-03 at 12:00 ET, reaching a high of $0.009853 and a low of $0.009258 before closing at $0.009282 on 2025-10-04 at 12:00 ET. The total volume traded was 73,864,120, with a notional turnover of approximately $681,279. The price declined in a consistent bearish trend, with key 15-minute candlestick patterns emerging.

Structure & Formations

Price action revealed a series of bearish formations, including a strong bearish engulfing pattern at $0.00973 and a doji at $0.009735, signaling indecision and a potential reversal in short-term momentum. A key support level appears to be forming around $0.0095–0.0096, with a resistance zone between $0.00975–0.00980. The price broke through the lower end of a descending channel, reinforcing bearish sentiment.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are in a steep downward alignment, with the price well below both. On the daily chart, the 50-period MA crosses below the 100-period and 200-period, indicating a bearish trend. This suggests that short- and long-term traders are both bearish, and any rally back toward the 50-period MA would likely face selling pressure.

MACD & RSI

The MACD histogram is negative and expanding in the bearish territory, with the MACD line below the signal line, indicating strong downward momentum. The RSI hit oversold territory below 30, particularly between 15:45–16:00 ET, but failed to trigger a strong bounce, suggesting limited buying interest. While the RSI may indicate a possible rebound, the lack of follow-through could point to a deeper correction.

Bollinger Bands

Bollinger Bands showed a moderate expansion during the 24-hour period, particularly from 15:30–16:00 ET, as the price moved to the lower band. This indicates increased volatility and a period of consolidation. The price closing near the lower band suggests that the bearish pressure remains intact, and a break below the band could lead to further downward movement.

Volume & Turnover

Volume spiked to 8.18M at 15:45 ET, coinciding with the lowest point in the 24-hour window. This surge in volume suggests significant selling pressure at the bottom. Notional turnover also increased during this time, indicating real liquidity and participation from larger players. The price and volume appear to be aligned, confirming the bearish move rather than indicating a false break.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute high at $0.009853 and low at $0.009258, key levels include $0.00956 (38.2%), $0.00943 (50%), and $0.00930 (61.8%). Price action is testing the 61.8% level, which is a critical psychological support zone. A break below this could accelerate the decline.

Backtest Hypothesis

Given the bearish momentum and alignment of technical indicators, a potential backtest strategy could involve shorting at the 61.8% Fibonacci level ($0.00930) with a stop just above the 50% level ($0.00943) and a target at the next major support zone. The MACD and RSI suggest that the price may struggle to rally beyond the 50-period MA, making this an attractive entry for short-term bears. This strategy would align with the observed price behavior, including the bearish engulfing pattern and oversold RSI, indicating a potential continuation of the downtrend.