Market Overview for Blur/Tether (BLURUSDT) on 2025-10-09

• Price surged from $0.07242 to $0.07496 before reversing, showing bearish divergence in later sessions.
• High volatility in the afternoon (ET) led to a 24-hour high of $0.0751, followed by a sharp pullback below key support at $0.073.
• Volume spiked during the bullish push but weakened on the pullback, indicating potential bearish exhaustion.
• RSI hit overbought levels midday, followed by a rapid bearish correction, suggesting short-term profit-taking.
• Bollinger Bands showed contraction before the breakout, with price closing near the lower band at $0.07162.

On 2025-10-09, the price of Blur/Tether (BLURUSDT) opened at $0.07242 and surged to a high of $0.0751 by 18:00 ET, before reversing sharply and closing the 24-hour window at $0.07162. The total volume for the period was 10,480,732.0 BLUR, with a notional turnover of approximately $750,000, showing moderate liquidity and mixed directional momentum.

Structure & Formations

Key resistance levels emerged at $0.0750–0.0751, where price stalled after a strong midday rally. A strong bearish engulfing pattern formed at 02:45 ET, signaling a reversal from a bullish to a bearish bias. A doji at 05:45 ET confirmed indecision before a sharp drop. Support levels were identified at $0.073 and $0.0716, both of which were tested during the final hours of the 24-hour window.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages indicated a bullish bias until 02:00 ET, after which the 20-period MA crossed below the 50-period, forming a death cross. On the daily chart, the 50-period MA crossed above the 100-period MA earlier in the month, suggesting a longer-term bullish bias, but this 24-hour session may challenge that trend with a potential bearish reversal forming.

MACD & RSI

The MACD turned bearish in the final 6 hours, with a negative histogram expanding, confirming the bearish reversal. RSI, which reached overbought levels (75) at 17:30 ET, collapsed rapidly to oversold territory (25) by 05:45 ET, showing strong bearish momentum and potential for further downward correction in the next 24 hours. These indicators suggest short-term bearish exhaustion may be nearing a bottoming process.

Bollinger Bands

Volatility expanded significantly during the rally to $0.0751, with price breaching the upper band. However, after the reversal, volatility contracted again, and price closed near the lower Bollinger Band at $0.07162. This suggests a potential bounce or reversal from the lower bound, especially if the 20-period MA finds support there in the next 24 hours.

Volume & Turnover

Volume peaked during the morning and early afternoon as the price rallied, but dropped off significantly after 02:00 ET as the bearish reversal took hold. This indicates that the initial bullish move lacked conviction and that bearish traders were able to dominate with relatively light volume. Notional turnover mirrored this pattern, with a sharp decline in the final hours.

Fibonacci Retracements

Key Fibonacci levels from the $0.07242–0.0751 move were $0.0736 (38.2%), $0.0741 (50%), and $0.0745 (61.8%). Price tested the 50% retracement level before falling sharply, indicating bearish rejection. On the daily chart, the $0.0716–0.0751 move showed the $0.0731 (38.2%) level as a key area of potential retesting in the next 24 hours.

Backtest Hypothesis

Given the recent price behavior, a potential backtesting strategy could involve a short bias triggered by a bearish engulfing pattern or a bearish death cross of the 20/50-period MAs on the 15-minute chart, with a stop-loss placed above the most recent swing high. A trailing stop or take-profit could be placed at key Fibonacci levels such as $0.0731 or $0.0716, depending on volatility and RSI divergence. Given the current RSI and MACD divergence, a bearish trade setup may present favorable risk-reward if executed within the next 12 hours.