Market Overview for Bonfida/Tether (FIDAUSDT) as of 2025-09-20 12:00 ET

• FIDAUSDT experienced a 24-hour range-bound consolidation between $0.0910 and $0.0943 with bearish pressure late into the evening.
• Momentum indicators showed a bearish divergence in the final hours, aligning with a sharp drop into the early hours of 2025-09-20.
• Volume spiked during key breakdown phases, confirming bearish conviction at the expense of buyers.
• Bollinger Bands remained relatively narrow for much of the session before expanding at the end, signaling heightened volatility.
• A strong 15-minute bearish engulfing pattern formed near $0.0912, suggesting possible short-term bearish continuation.

Opening Summary

Bonfida/Tether (FIDAUSDT) opened at $0.0929 on 2025-09-19 at 12:00 ET and traded within a range of $0.0910 to $0.0943 over the next 24 hours, closing at $0.0937 as of 12:00 ET on 2025-09-20. Total volume amounted to approximately 7,398,827.6 units traded, with total notional turnover reaching $680,391.77. The pair displayed a bearish bias in the final hours and appears vulnerable to short-term selling pressure.

Structure & Formations

Price action showed a key breakdown below $0.0925 into the early morning hours, with a decisive candle forming at $0.0912 that may signal a short-term support zone. A bearish engulfing pattern formed at this level, indicating potential bearish momentum. Resistance appears to be consolidating around $0.0935–$0.0938, with a prior failed attempt to break above this range seen on the final 15-minute candle.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended lower, with price frequently dipping below the 20-period MA, reinforcing the bearish bias. On the daily chart, the 50-period MA is currently above the 200-period MA, suggesting intermediate-term bearishness and a lack of bullish conviction.

MACD & RSI

The 15-minute MACD showed a bearish crossover near $0.0924, with the histogram shrinking during the consolidation phase. The RSI has moved into oversold territory at 28 during the final hours, suggesting the potential for a short-term bounce, though bearish fundamentals may override this. MACD and RSI appear to be aligned in bearish momentum.

Bollinger Bands

Bollinger Bands remained relatively tight throughout the early session, indicating low volatility. However, the bands expanded in the late hours as price dropped below the 20-period moving average, suggesting a breakout or breakdown is imminent. Price found support near the lower band at $0.0912 and may test this level again in the near term.

Volume & Turnover

Volume was concentrated during key breakdown periods, particularly around 23:30–00:15 ET, when a massive candle closed at $0.0912. Notional turnover also spiked during these hours, confirming bearish conviction. A divergence between price and volume was not observed, suggesting the selling pressure remains well-supported.

Fibonacci Retracements

Key Fibonacci levels on the 15-minute chart include 38.2% at $0.0927 and 61.8% at $0.0932. Price briefly tested the 61.8% level in the final hours before retreating, suggesting bearish exhaustion at that level. Daily Fibonacci levels indicate potential resistance at $0.0939 and support at $0.0920.

Backtest Hypothesis

A potential backtesting strategy would involve entering short positions on a confirmed bearish engulfing pattern near the lower Bollinger Band, with a stop above the 61.8% Fibonacci level. This setup would align with the observed bearish momentum in RSI and MACD, offering a high-probability trade with defined risk. A target could be placed near $0.0910, the previous swing low, with a stop at $0.0935 to protect against a breakout.