Market Overview for Blur/Tether (BLURUSDT) on 2025-10-11

• Price declined sharply from $0.07 to $0.032 over 24 hours, with a rebound starting from $0.032 to $0.051.
• Volatility expanded significantly during the price crash before consolidating in a tighter range.
• RSI and MACD signaled oversold conditions at the bottom, suggesting potential for a short-term bounce.
• Volume spiked during the sharp decline but dropped during the rebound, indicating mixed conviction.
• A bullish engulfing pattern formed near the $0.0496–$0.0505 range, signaling a possible short-term reversal.

Price Action and Range

The 24-hour period for Blur/Tether (BLURUSDT) opened at $0.06953 on 2025-10-10 at 16:00 ET, reached a high of $0.07017, a low of $0.02367, and closed at $0.05155 as of 12:00 ET on 2025-10-11. Total volume for the period was 218,554,198.9, and total turnover amounted to approximately $9,359,106. The pair experienced a severe selloff from around $0.07 to $0.032 before showing signs of recovery in the last 12 hours.

Structure & Formations

The price action revealed a sharp bearish move from $0.07 to $0.032, where it found support and started rebounding. The consolidation between $0.049 and $0.05155 suggests a key resistance zone may be forming around the 50% Fibonacci retracement level of the recent bearish swing. Notably, a bullish engulfing pattern appeared around the $0.0496–$0.0505 range, indicating a potential short-term reversal. Additionally, a doji formed at $0.05067, suggesting indecision in the market after the rebound.

Moving Averages and Momentum

On the 15-minute chart, the 20-period and 50-period moving averages have crossed multiple times due to the sharp price swings, indicating high volatility and no clear trend. On the daily chart, the 50-period MA appears to act as dynamic support, while the 200-period MA remains below the current price. The MACD turned positive in the last 6 hours, signaling renewed short-term bullish momentum, while the RSI has moved above 50, entering neutral territory after a strong oversold reading at the bottom.

Volatility and Volume

Bollinger Bands expanded significantly during the bearish leg, reflecting heightened volatility. The price has since consolidated within a narrower range, suggesting reduced uncertainty. Volume spiked during the selloff but has since declined, with the most recent rebound showing lower volume, which could signal a lack of conviction or a distribution phase. Notional turnover, however, increased slightly during the rebound, indicating renewed interest from traders and investors.

Fibonacci and Key Levels

Applying Fibonacci retracements to the recent bearish move from $0.07 to $0.032, the 38.2% retracement level aligns with $0.051, where the price has paused. The 61.8% retracement level is at $0.060, which could become a resistance in the near term. The current price action suggests that the $0.051–$0.052 range is a critical area for support, and a break above could signal a more sustained recovery.

Backtest Hypothesis

A potential backtest strategy involves entering a long position upon a bullish engulfing pattern confirmation near key support levels, with a stop-loss placed below the previous low and a target aligned with the 38.2% Fibonacci retracement. This approach could be augmented by monitoring RSI for overbought conditions and MACD crossovers as exit signals. The combination of pattern recognition and indicator confirmation aims to balance risk with reward in a volatile asset like BLURUSDT.