Market Overview for 1inch/Tether (1INCHUSDT) – 2025-11-12

• Price tested key support but failed to break below, indicating bearish pressure.• RSI and MACD show overbought conditions with waning momentum on the 15-minute chart.• Volume spiked during the early morning ETH hours, aligning with price consolidation.

1inch/Tether (1INCHUSDT) opened at $0.2122 on 2025-11-11 at 12:00 ET and closed at $0.2127 the following day at the same time. The 24-hour range was between $0.2031 (low) and $0.2150 (high). Total volume reached 6.24 million contracts, while turnover amounted to approximately $1.3 million, showing moderate activity in line with recent trends.

On the 15-minute chart, price action has shown a bearish bias after reaching a high of $0.2150 earlier in the session. A notable bearish engulfing pattern was visible around 14:00–14:30 ET, suggesting short-term selling pressure. The formation of small-bodied candles in the $0.2130–0.2140 range indicates indecision among traders and potential consolidation before a breakout. Key support levels appear to be forming near $0.2100 and $0.2085, which have held on multiple occasions. Resistance is currently at $0.2145 and $0.2165. A break below $0.2085 could signal a deeper correction toward $0.2060.

The 20-period and 50-period moving averages on the 15-minute chart have been converging, with the 20-period line crossing below the 50-period line recently, suggesting a potential bearish crossover. On the daily chart, the 50/100/200-period moving averages remain in a descending order, indicating a broader bearish bias. MACD has remained below the signal line since the morning, with a bearish crossover suggesting continued downward momentum. RSI is currently in overbought territory at around 68, but the divergence between price and momentum suggests exhaustion in the rally. This may lead to a pullback or a consolidation phase in the near term.

Bollinger Bands have been expanding since the afternoon, indicating rising volatility. Price is currently trading near the middle band, suggesting a potential continuation phase. A move toward the upper band would imply a reversal in bearish sentiment, while a test of the lower band could confirm a deeper correction. Fibonacci retracement levels from the $0.2031–$0.2150 swing show 38.2% at $0.2109 and 61.8% at $0.2142, with price currently approaching the 61.8% level, suggesting potential resistance ahead.

Backtest Hypothesis

The backtesting strategy outlined focuses on detecting Bearish-Engulfing patterns for a long-term trading approach. These patterns typically signal a potential bearish reversal and are valuable for identifying strategic entry points. For 1INCHUSDT, the bearish engulfing at 14:00–14:30 ET could serve as a model for this strategy. The approach would involve opening a long position at the next day's open and closing the position at the first bearish daily candle. While this strategy is not directly applicable to 1INCHUSDT in the last 24 hours due to the short time frame, it could be evaluated on a longer-term dataset. Confirming the tradable symbol for the referenced fund will allow for a more precise and accurate implementation of the backtest.