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

Summary
• Price surged to 0.04884 before consolidating around 0.048.
• High volatility seen in late ET sessions with mixed RSI signals.
• Volume spiked during key bullish and bearish phases.

Opening Narrative

Blur/Tether (BLURUSDT) opened at 0.04698 at 12:00 ET − 1 and reached a high of 0.04884 before closing at 0.048 at 12:00 ET on 2025-11-11. The pair traded between 0.04654 and 0.04884, with a 24-hour volume of 13,266,215.6 and a total turnover of 613.59 Tether.

Structure & Formations

Price action shows a strong bullish impulse in the evening ET hours, marked by a bullish piercing pattern forming around 22:45 ET, followed by a bullish harami as buyers stepped in after a short pullback. A key support level is observed at 0.0475, where price repeatedly found buyers. Resistance appears near 0.0483–0.0485, with a potential breakout or breakdown pending.

Moving Averages

On the 15-minute chart, the 20SMA and 50SMA crossed positively in the early evening ET session, confirming a bullish bias. On the daily chart, the 50DMA appears to be catching up with the 100DMA, while the 200DMA acts as a psychological floor. Price remains above the 50DMA, supporting a continuation of the current uptrend.

MACD & RSI

The MACD line turned positive in the late ET hours, aligning with the bullish momentum seen in price. RSI hit 65 during the late surge, showing overbought territory but without triggering a bearish reversal. Divergence between RSI and price action in the morning ET session indicated weakening bearish pressure, which was later confirmed by a strong rebound.

Bollinger Bands

Volatility expanded significantly in the 23:00–04:00 ET range, with price reaching the upper band and closing slightly within it. A contraction was observed in the early ET hours, indicating a potential breakout. Price remains within the 2-standard deviation bands, suggesting no extreme volatility or exhaustion.

Volume & Turnover

Volume peaked at 612,648.1 during the late ET bullish surge, confirming strong conviction in the upward move. Turnover also spiked in this period, showing increased liquidity. A divergence appears in the morning ET session where price declined while volume remained low, hinting at weak bearish sentiment.

Fibonacci Retracements

On the 15-minute chart, key retracement levels at 0.0474 (38.2%) and 0.04698 (61.8%) acted as strong support. Price found buying interest at these levels, with the 0.0483–0.0485 zone representing a potential extension target if the trend continues. Daily Fibonacci levels suggest a critical 61.8% retracement at 0.0476, where a break below could signal a deeper pullback.

Backtest Hypothesis

Given the strong RSI dynamics observed, a backtest using RSI(14) could offer valuable insights into potential buy and sell signals. Applying the classic thresholds—buy when RSI < 30 and sell when RSI > 70—may help validate the trend strength and reversal points in BLURUSDT. Testing this strategy on daily closing prices from 2022-01-01 to 2025-11-11 could provide a data-driven evaluation of its efficacy in the context of this fast-moving market.