Market Overview for Bonfida/Tether (FIDAUSDT) – October 8, 2025

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• FIDA/USDT edged lower, closing near a key support zone amid a 0.6% 24-hr decline to $0.0797.
• Momentum indicators signaled weakening bullish energy and oversold conditions in the short-term.
• Volatility expanded early in the session but contracted toward the close, hinting at range-bound behavior.
• Volume spiked after 20:30 ET, but lacked directional conviction, with no major reversal patterns observed.
• Bollinger Bands and Fibonacci levels highlighted potential support at $0.0792 and resistance near $0.0803–0.0805.

Price Action and Volume Summary

At 12:00 ET on October 8, 2025, Bonfida/Tether (FIDAUSDT) opened at $0.0795, hit a high of $0.0805, a low of $0.0777, and closed at $0.0797. Total volume over the 24-hour period was 31,128,068.2 USDT, with notional turnover reaching $2,479,738. The price action reflected a bearish bias after a midday bounce from key support levels.

Structure & Formations

Price tested a significant support level at $0.0787–0.0792 twice during the session, with a bearish engulfing pattern forming around 03:30 ET as it broke below this level. A potential bullish reversal occurred at 09:00 ET with a strong candle closing near the high. A doji near the $0.0795 level at 05:15 ET hinted at indecision. The session closed with a retest of the $0.0792 level, which appears to be a key floor for near-term sentiment.

Technical Indicators and Momentum

MACD (12,26,9) on the 15-minute chart showed bearish divergence after 04:00 ET, while RSI (14) hit oversold conditions below 25 around 06:00 ET. Bollinger Bands reflected a contraction in volatility from 08:00 to 12:00 ET, with price hovering just above the lower band. On the daily chart, 50-period and 200-period moving averages remain wide apart, with FIDAUSDT trading below both. Short-term momentum appears to be stabilizing, with RSI hinting at a potential rebound from oversold levels.

Fibonacci Retracements and Key Levels

Fibonacci retracement levels applied to the recent 15-minute swing from $0.0777 to $0.0805 identified key retracement levels at $0.0793 (38.2%), $0.0786 (50%), and $0.0779 (61.8%). Price held above the 38.2% level during the final hours of the session. On the daily chart, the 61.8% retracement of the broader downtrend from recent highs remains untested and could offer resistance if a short-covering rally materializes.

Volume and Turnover Trends

Volume remained relatively subdued during the first half of the session but surged after 20:30 ET, with a peak of 727,842.5 USDT at 16:00 ET. Turnover increased in tandem with the price action, confirming the bearish break below $0.0792. However, price failed to follow through decisively on the increased volume, suggesting limited conviction in the move lower. A divergence between volume and price could hint at a potential short-term reversal or consolidation phase.

Backtest Hypothesis

A potential backtest strategy could target long entries at the 38.2% Fibonacci retracement level ($0.0793) on a bullish crossover of the 15-minute 20-period and 50-period moving averages, provided RSI confirms oversold conditions (<30). A stop-loss could be placed below the 0.0787 support level, with a take-profit near the $0.0803–0.0805 resistance zone. This setup would aim to capitalize on a rebound from key support with technical alignment of trend, momentum, and volume.