Market Overview: BLUR/USDT (BLURUSDT) – 2025-10-08 12:00 ET

• Price action for BLURUSDT was volatile, with a 24-hour range of $0.07157–$0.07346.
• Momentum shifted from bearish to mixed, with RSI near neutral and MACD flattening.
• Volatility peaked in early morning ET, with volume surging above 700,000 tokens.
• Key support at $0.0715–0.0720 and resistance at $0.0725–0.0730 defined price action.
• A potential bullish breakout above $0.0730 could trigger renewed momentum.

At 12:00 ET on 2025-10-08, BLUR/USDT opened at $0.07234 and closed at $0.07256 after a 24-hour range of $0.07157–$0.07346. Total volume traded was 7,478,339.5 tokens with a notional turnover of ~$538,000. Price action was characterized by a sharp early drop to $0.07116 followed by a strong rebound into positive territory, forming a bullish reversal pattern.

Structure & Formations

Price found support at key levels near $0.0715 and $0.0720, with the former acting as a strong floor during the early morning selloff. The price then bounced into a bullish continuation phase. A notable bullish engulfing pattern emerged around 09:30–10:00 ET, where the price absorbed a prior bearish candle. A bearish harami was also observed during the selloff from $0.0730 to $0.0725, indicating indecision among traders.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were closely aligned, with the 20-EMA slightly above the 50-EMA, suggesting a tentative bullish bias. The price traded above both moving averages for most of the session, indicating that the short-term trend remained positive. The 200-period MA on the daily chart remains a key level to watch in the coming session.

MACD & RSI

The MACD line flattened into neutral territory around midday, with the signal line crossing above it, suggesting a potential reversal in short-term momentum. RSI oscillated between 35 and 70, avoiding overbought or oversold territory for the majority of the session. A late-day RSI dip to 38.5 indicated some bearish pressure, though not extreme.

Bollinger Bands

Bollinger Bands expanded significantly during the early morning volatility, with the price breaking below the lower band at one point before rebounding. The bands have since contracted, with the price trading near the upper band in the afternoon, indicating increased volatility and a potential breakout scenario.

Volume & Turnover
Trading volume surged to over 750,000 tokens around 14:15–14:30 ET, aligning with a sharp price move from $0.0725 to $0.07346. This suggests strong institutional or large-capacity buying during that period. Notional turnover increased concurrently, reinforcing the volume. No significant price-volume divergences were observed, indicating alignment between volume and price direction.

Fibonacci Retracements

On the 15-minute chart, the 0.618 Fibonacci retracement level at $0.07245 coincided with a key consolidation area. On the daily chart, the 0.382 level at $0.0727 appeared to cap upward momentum temporarily. A break above $0.0730 could see the price targeting the 0.786 retracement at $0.0733 as a potential extension.

Backtest Hypothesis

The backtesting strategy focuses on capturing short-term volatility by entering long positions when the 20-period EMA crosses above the 50-period EMA on the 15-minute chart, with a stop-loss placed below the 20-period EMA. This strategy is most effective in low-liquidity periods when volatility is high, such as the early morning selloff observed on 2025-10-08. The current price behavior aligns with the conditions described, with potential entry points forming near key Fibonacci and moving average levels.