Market Overview: Bonfida/Tether (FIDAUSDT) 24-Hour Analysis

Summary
• Price action showed a sharp 5-minute bearish reversal after 7:15 PM ET.
• Volume surged 30x during the collapse, with turnover confirming bearish momentum.
• RSI and MACD indicated strong oversold conditions by 10:00 AM ET.
• A key support level at 0.0381 appears to have held after the selloff.

Market Overview

Bonfida/Tether (FIDAUSDT) opened at 0.0422 on 2025-12-29 at 12:00 ET, reaching a high of 0.0428 and a low of 0.0377, with a closing price of 0.0382 at 12:00 ET. Total 24-hour volume was 54,955,755.8, and notional turnover amounted to 2,315,800.84.

Structure & Formations

Price action displayed a sharp bearish reversal after a 5-minute candle on 2025-12-29 at 19:15 ET (7:15 PM ET), where FIDAUSDT dropped from 0.0424 to 0.0391. This candle formed a strong bearish engulfing pattern, suggesting a shift in sentiment.

A potential support level at 0.0381 appears intact, as the asset rebounded from this level after the 12:00 ET time stamp.

Moving Averages

On the 5-minute chart, price spent most of the session below the 20 and 50-period moving averages, indicating bearish dominance. Daily moving averages (50, 100, and 200) would likely show FIDAUSDT trading below key averages, reinforcing short-term bearish bias.

MACD & RSI

The RSI reached oversold territory (below 30) at 10:00 AM ET, signaling a potential bounce or accumulation phase. The MACD line crossed below the signal line during the selloff, confirming bearish momentum. However, the divergence between the 10:00 AM RSI low and the subsequent price rebound suggests some short-term accumulation.

Bollinger Bands

Volatility expanded significantly during the selloff, with Bollinger Bands widening. Price traded below the 20-period lower band at 0.0381, suggesting increased bearish pressure and potential consolidation ahead.

Volume & Turnover

Volume spiked dramatically during the sell-off at 7:15 PM ET, with the 19:15 ET candle showing a 30x increase in volume compared to earlier hours. This confirms the bearish reversal. Notional turnover also spiked during the same period, aligning with the price decline and indicating strong institutional selling pressure.

Fibonacci Retracements

Applying Fibonacci to the key swing from 0.0428 to 0.0377 shows that the 0.0381 level corresponds to the 61.8% retracement, reinforcing its role as a critical support. The 38.2% retracement at 0.0399 appears to have been rejected earlier in the session.

The rebound from the 0.0381 level could suggest a short-term floor, but given the magnitude of the selloff, caution is warranted. The next 24 hours may see a test of 0.0381 again, with a possible consolidation phase if the level holds. Traders should monitor volume and turnover to confirm whether the bounce is genuine or a bear trap.