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Summary
• Price drifted lower through key support levels on weak volume.
• Momentum indicators signal oversold conditions at 24-hour low.
• Volatility expanded as price tested a multi-hour descending channel.
Act I : The AI Prophecy/Tether (ACTUSDT) opened at $0.0221 at 12:00 ET – 1, reaching a high of $0.0223 and a low of $0.0204 before closing at $0.0205 at 12:00 ET today. Total traded volume over the 24-hour window was 31,064,775.4 units, with a notional turnover of approximately $643,390.
Price broke below a key support level at $0.0212, followed by a series of bearish continuation patterns including a dark cloud cover and a descending triangle on the 5-minute chart. The price appears to have found temporary support near $0.0204, though it remains vulnerable to further downside.
The 20 and 50-period moving averages on the 5-minute chart are in a steep downward trend, reinforcing the bearish bias. On the daily chart, the 50 and 100-period moving averages appear to be converging, suggesting a potential pivot zone in the near term.
The MACD histogram has remained negative throughout the session, with no sign of bullish divergence. RSI hit an oversold level near 28 at the session low, indicating a potential short-term bounce may be in play, though confirmation is needed above $0.0212.
Volatility expanded significantly during the session, with the upper Bollinger Band at $0.0223 and the lower band at $0.0203. Price has remained near the lower band for most of the session, suggesting a continuation of the downward trend unless a strong reversal forms.
Volume increased during the selloff, particularly in the late afternoon and early evening hours, but turnover remained in line with price action, showing no divergence. The largest single 5-minute candle by volume occurred at $0.0211, which marked a key pivot point during the session.
Applying Fibonacci to the most recent 5-minute swing from $0.0223 to $0.0204, price is currently testing the 61.8% retracement level at $0.0215. A break below this level would target the next key support at $0.0212, followed by $0.0209.
In the coming 24 hours, a test of the $0.0212 level may trigger either a continuation of the bearish trend or a short-covering rally. Investors should remain cautious as momentum remains weak, and any rebound may lack conviction without a clear breakout above key resistance.
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