Market Overview for Blur/Tether (BLURUSDT) — 2025-09-20 12:00 ET

• Price surged from $0.08382 to $0.08708 in 24 hours, driven by strong volume and momentum.
• RSI rose into overbought territory, suggesting potential short-term correction.
• Key resistance appears at $0.08708, with support near $0.08470 from prior consolidation.
• Volatility increased as price broke above Bollinger Bands in final hours.
• Turnover spiked sharply in last 2.5 hours, confirming renewed buying interest.

The 24-hour chart for Blur/Tether (BLURUSDT) shows a bullish reversal as the pair opened at $0.08426 and closed at $0.08707, hitting a high of $0.08768 and a low of $0.08378. Total volume reached 6.38M tokens, with a notional turnover of $546.84K. Price has shown strong upward momentum in the final hours, breaking above key resistance levels.

Structure & Formations

The price formation over the last 24 hours suggests a bullish breakout from a consolidative range. A key support level appears to be forming around $0.08470–$0.08490, where price found support multiple times. Above, the 0.08708 level acts as a dynamic resistance, now likely to become a new support if the price retests it. A notable bullish engulfing pattern appeared around 15:30–15:45 ET, confirming a reversal in bearish sentiment. The final candle before the close (16:00–16:15 ET) was a long upper wick, suggesting strong resistance may be forming near $0.08768.

Moving Averages

On the 15-minute chart, the 20-period SMA crossed above the 50-period SMA, forming a golden cross—a bullish signal. The 50-period SMA is currently at $0.0857, lagging behind the recent bullish move. On the daily chart, the 50-period SMA appears to be crossing above the 200-period SMA, suggesting a possible continuation of the bullish trend. Price is currently well above both 50- and 100-period SMAs, indicating a strong uptrend.

MACD & RSI

The MACD line crossed above the signal line in the afternoon, signaling bullish momentum. The histogram is expanding, confirming growing buying pressure. RSI has surged into overbought territory (80–85), which may suggest a short-term pullback, though the overall momentum remains strong. The RSI divergence with price has yet to form, so the trend could persist for a few more hours.

Bollinger Bands

Volatility has increased sharply in the last 3 hours as price moved above the upper Bollinger Band. This expansion of the bands suggests growing uncertainty and heightened trader activity. The middle band (20-period SMA) is currently at $0.0863, trailing the price action. Price is now well above the upper band, which may create a short-term overbought condition. A pullback toward the middle band is a likely short-term target, but given the recent strength, a test of the lower band is less likely.

Volume & Turnover

Volume spiked significantly in the final hours, especially between 15:00 and 16:15 ET, with the highest 15-minute volume recorded at 796,919.3 tokens. Turnover also increased sharply, with the final candle showing a turnover of $57.14K. The price and volume relationship is positive—rising volume confirms the bullish breakout. A divergence between price and volume has not yet emerged, suggesting the trend is still supported by strong on-chain activity.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent swing from $0.08378 to $0.08768, key retracement levels are now at $0.0861 (61.8%), $0.0854 (50%), and $0.0849 (38.2%). Price is currently hovering near the 61.8% retracement level and may test this area before either continuing higher or consolidating. A retest of the 50% level ($0.0854) is possible if a pullback occurs, but the current momentum suggests a push above $0.08768 is more likely.

Backtest Hypothesis

Given the current momentum and strong volume confirmation, a backtest strategy could focus on entries following bullish candlestick patterns—such as the engulfing formation—confirmed by a golden cross in the 20/50 SMA and a MACD crossover. A long position could be entered at the open of the candle following the engulfing pattern, with a stop-loss below the low of the confirmation candle. Targets could be set at the next Fibonacci level or the upper Bollinger Band. This strategy would align with the observed price action and technical indicators, leveraging both trend and momentum signals.