Market Overview for Blur/Tether (BLURUSDT) – October 30, 2025

• Price declined sharply during the 18:45–19:00 ET window, dropping from 0.0509 to 0.0488.
• Strong bearish momentum confirmed by intraday RSI readings below 30 and large-volume sell-offs.
• Volatility surged during the selloff but has since normalized with price stabilizing near 0.0476.
• Notable divergence between volume and price suggests potential accumulation or profit-taking.

At 12:00 ET–1 on October 29, BLURUSDT opened at 0.04964, reached a high of 0.05093, and a low of 0.04682, closing at 0.04763 by 12:00 ET on October 30. Total volume amounted to 9,397,479.2 BLUR, with notional turnover totaling $460,961.50. A sharp selloff during the 18:45–19:00 ET candle marked a 2.1% drop, with bearish control confirmed by large real bodies and wicks.

Structure & Formations

A bearish engulfing pattern formed during the 18:45–19:00 ET candle, signaling a strong shift in sentiment. A potential support level appears at 0.04682, where the price found a floor after a 4.2% decline from its intraday high. A doji at 03:00–03:15 ET indicated indecision, suggesting a possible retracement level. The 20-period EMA on the 15-minute chart crossed below the 50-period EMA, reinforcing bearish bias.

Moving Averages

The 20-period EMA is at 0.0491, while the 50-period EMA is at 0.0488, indicating short-term bearish momentum. On the daily chart, the 200-period SMA is not available for the 15-minute data, but the 50/100-period EMAs are converging in a bearish crossover around 0.0495. This supports the idea that the recent move is part of a broader downtrend.

MACD & RSI

The MACD line crossed below the signal line during the 18:45–19:00 ET window, confirming bearish momentum. RSI fell to 29, reaching oversold territory. This suggests a potential bounce is possible, but without a strong reversal candle, the bias remains bearish. The divergence between volume and price during the 22:00–22:15 ET candle may hint at accumulation or a short-covering rally.

Bollinger Bands

Volatility expanded significantly during the selloff, pushing the 20-period Bollinger Bands from 0.0492–0.0502 to 0.0468–0.0491. The price closed near the lower band at 0.04682, suggesting a potential support test. A breakout above the midline of 0.0480 may signal a retracement.

Volume & Turnover

The 18:45–19:00 ET candle showed the highest volume at 8,782,026.5 BLUR, but the price declined sharply, indicating distribution or profit-taking. In contrast, the 05:30–05:45 ET candle showed high turnover with lower volume, suggesting large orders pushing the price down. This divergence may reflect mixed sentiment among market participants.

Fibonacci Retracements

A key retracement level at 0.0486 (61.8% of the 18:45–20:30 ET move) has been tested but rejected. The 38.2% level at 0.0491 acted as a minor resistance. These levels may be important for near-term price action, especially if buyers re-enter the market.

Backtest Hypothesis

Given the strong bearish momentum and RSI divergence seen in the 24-hour data, a backtest using the RSI < 30 rule may provide insight into potential short-term trading opportunities. This strategy would look to enter a long position when RSI dips below 30 and exit after 3 days. However, given the recent oversold readings, a modified strategy incorporating Fibonacci retracements and moving average crossovers may improve signal accuracy. Testing this hypothesis from BLUR’s first available trading data in February 2023 would offer a clearer picture of its historical viability.