Market Overview for BLURUSDT on 2025-10-10

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• BLURUSDT opened at $0.07073 and closed at $0.0693, with a 24-hour high of $0.0737 and low of $0.0687.
• Price declined sharply after 15:00 ET amid rising volume and widening spreads, hinting at bearish pressure.
• RSI oversold conditions and a bearish divergence suggest a potential short-term reversal.
• A key support level appears to be forming near $0.0693, with a possible bounce expected.

15-Minute Open/Close & Key Stats

At 12:00 ET on 2025-10-10, Blur/Tether (BLURUSDT) opened at $0.07073 after closing at $0.07072 at 12:00 ET the prior day. The pair reached a high of $0.0737 and a low of $0.0687 during the 24-hour period, closing at $0.0693. Total volume over the 24-hour window was 14,836,249.2 BLUR, with a notional turnover of approximately $1,037,184.

Structure & Formations

BLURUSDT displayed a strong bearish bias on the 15-minute chart, particularly after 15:00 ET, with a sharp decline forming a bearish engulfing pattern. A key support level appears to be consolidating near $0.0693, and a potential reversal could occur if buying pressure reemerges. Resistance levels are seen at $0.0710 and $0.0725, while support levels are forming at $0.0693 and $0.0687.

MACD & RSI

The RSI has entered oversold territory, reaching below 30 at one point, suggesting that the sharp decline may be nearing an exhaustion phase. The MACD showed a bearish crossover earlier in the session, but the line has since flattened and begun to move upward, which could indicate a weakening of the bearish momentum. Divergences between price and RSI suggest a potential reversal may be in the offing.

Bollinger Bands & Volatility

Volatility increased significantly after 15:00 ET, coinciding with the sharp decline in price. The asset’s price broke below the lower Bollinger Band, indicating high volatility and a bearish signal. As the bands expanded, the price found a temporary floor at $0.0693, hinting that a rebound may be in play if buyers step in.

Volume & Turnover

Volume spiked during the sharp drop after 15:00 ET, with over 800,000 BLUR traded in a single 15-minute interval. Notional turnover also surged, confirming the bearish move. However, a divergence is forming between price and volume in the late hours: price continues to fall while volume begins to wane, suggesting that the bearish momentum may not be sustainable.

Backtest Hypothesis

The backtest strategy described involves entering a short position when the 20-period and 50-period EMA cross below the price and confirming with a bearish engulfing candle. A stop-loss is placed above the 20-period EMA, and a take-profit is set at the nearest Fibonacci level (61.8%) of the recent swing high. This approach aligns with the observed bearish momentum and engulfing pattern on the 15-minute chart. If confirmed over the next 24 hours, this strategy could provide a viable short-term trade with defined risk parameters.