IDUSDT Breaks Below $0.0534 — Volume Validates Bearish Move

Summary
• Price retreated sharply below $0.0534 amid growing bearish momentum.
• Volume surged over 380k at $0.0532, indicating key psychological support tested.
• RSI signaled oversold conditions near 25, suggesting potential for a rebound.
• Bollinger Bands constricted before a final break below the 20-period MA.

Market Overview

At 12:00 ET–1 on 2026-02-06, SPACE ID/Tether (IDUSDT) opened at $0.0538 and traded between $0.0548 (high) and $0.0519 (low), closing at $0.0520 by 12:00 ET on 2026-02-07. Total 24-hour volume reached 1,231,379.0 and turnover was $65,098.60, showing uneven activity across the session.

Structure & Formations

Price action displayed a bearish breakdown below key support at $0.0534, confirmed by a bearish engulfing pattern at $0.0532. A long lower wick near the session’s end suggested rejection at $0.0520, possibly indicating short-term support.

Moving Averages

On the 5-minute chart, price broke below the 20-period and 50-period moving averages, reinforcing the downward drift. The 50-period MA was last at $0.0535, and the 20-period MA at $0.0534, both now acting as dynamic resistance.

MACD & RSI

The MACD crossed bearishly into negative territory with a strong divergence, confirming the selloff. RSI reached oversold levels near 25, hinting at possible short-covering or a pullback. However, bullish reversal is not guaranteed and depends on volume confirmation.

Bollinger Bands

Volatility remained moderate, with price staying near the lower Bollinger Band for much of the session. A sharp break below the band at $0.0519 marked a potential exhaustion point for bears, though consolidation may follow.

Volume & Turnover

Volume spiked to over 380k at $0.0532 and again below $0.0525, confirming the bearish breakdowns. Turnover mirrored this, with the largest trade block occurring at 2026-02-07 00:45 ET. Price and turnover aligned during the key selloff, validating the move.

Fibonacci Retracements

Recent 5-minute swings showed a 61.8% retracement at $0.0523, which was briefly tested before a break lower. Daily retracements may offer potential support levels in the $0.0519–$0.0523 range, which traders may watch for signs of a reversal.

In the next 24 hours, a rebound above $0.0523 could trigger a test of the $0.0532–$0.0534 range, while a break below $0.0519 may expose deeper support at $0.0515. Investors should remain cautious for any divergence between price and volume, which could signal a reversal.