Market Overview for Audius/Tether (AUDIOUSDT): Bullish Reversal Confirmed with Overbought Momentum

• Audius/Tether (AUDIOUSDT) rose from 0.042 to 0.0435 on heightened volume and bullish momentum late ET.
• Price formed a bullish engulfing pattern near 0.042 and broke above 20-period MA for the first time in 24 hours.
• RSI crossed overbought (70) in last 4 hours, suggesting possible short-term profit-taking.
• Volatility expanded as Bollinger Bands widened, with price near upper band for much of the session.
• Turnover surged after 15:00 ET as price approached 0.0435, indicating strong accumulation interest.

The 24-hour chart for Audius/Tether (AUDIOUSDT) shows a strong recovery from a 24-hour low of 0.042 to a high of 0.0436, with the price closing at 0.0435 at 12:00 ET. The session opened at 0.0421 and closed with total volume of 14,688,125.8 and turnover of approximately 625,952.4 USD. A bullish reversal is evident with a large 15-minute bullish engulfing pattern near 0.042 and a late surge in buying pressure that pushed the price above the 20-period moving average. This suggests a short-term bottoming process may be underway.

Price action revealed multiple key support and resistance levels, with 0.042 and 0.0434 acting as critical pivot points. A strong rejection occurred at 0.042, triggering a rebound that culminated in a push above 0.0434. Notably, the 20-period moving average crossed above the 50-period line late in the session, indicating a potential short-term trend reversal. While the 50-period MA remains above price, the momentum appears to be shifting in favor of the bulls.

MACD and RSI confirmed the bullish bias, with RSI spiking to overbought levels (70) in the final hours of the session. MACD crossed above zero and showed positive divergence with the price, reinforcing the strength of the rally. Bollinger Bands expanded significantly, with price spending much of the session near the upper band. Volatility appears to be peaking, and this could lead to a period of consolidation or a continuation higher if buyers remain aggressive.

The Fibonacci retracement levels for the recent 15-minute swing show that price retested the 61.8% level at 0.0425 before surging past key resistance. The 0.0434 level now appears to be a new short-term resistance, with the potential for a pullback to the 38.2% level at 0.0431 if momentum wanes. Given the recent volume and price action, it appears the market is testing the durability of this new range.