Summary
• Price formed a bullish engulfing pattern near 0.0219, signaling potential short-term reversal.
• Volatility contracted during overnight hours, followed by a sharp rebound in early morning ET.
• Volume surged after 0.0221, with buying pressure evident in the final hours.
• RSI approached oversold territory, hinting at a potential bounce, though momentum remains cautious.
• 5-minute chart confirmed a 38.2% Fibonacci retracement level at 0.0219 as key support.
Bubblemaps/Tether (BMTUSDT) opened at 0.0219 on 2025-12-17 at 12:00 ET, reached a high of 0.0224, and closed at 0.0221 on 2025-12-18 at 12:00 ET, with a low of 0.0212. Total volume over the 24-hour window was 11,850,000.0, and notional turnover amounted to $255,000.
Structure & Formations
The price action showed a bullish engulfing pattern at 0.0219, confirming a short-term reversal. Key support appears at the 0.0216–0.0217 range, where price tested several times. A 5-minute swing from 0.0224 to 0.0212 saw a 38.2% retracement at 0.0219, aligning with a minor support level.
A doji formed at 0.0218 in the early morning, suggesting indecision ahead of a breakout attempt.
Moving Averages and Momentum
The 5-minute 20-period and 50-period moving averages crossed near 0.0219–0.0221, indicating a potential shift in bias to the upside. The daily 50/100/200 EMAs remain aligned for a neutral-to-bullish bias, with the price staying above the 200-period average. MACD showed a positive divergence in the final hours, hinting at rising momentum. RSI reached oversold territory but showed early signs of a bounce, indicating a potential short-term recovery.
Volatility and Bollinger Bands
Volatility was low overnight, with price consolidating near the mid-band of the Bollinger Bands, before breaking higher in the morning ET. This suggests a low-risk breakout scenario. The widening of the bands in the last 3 hours reflects a rise in uncertainty and potential follow-through on the rally.
Volume and Turnover
Volume spiked after the 0.0221 level, with the largest 5-minute bar at 0.0221–0.0224 seeing a turnover of $11,400. This volume surge was aligned with the price move, providing confirmation. Notable divergence was observed during the overnight consolidation phase, where volume remained subdued despite price fluctuation.
Forward-Looking Outlook
Price may test the 0.0222–0.0223 resistance zone over the next 24 hours, with a potential break leading to a retest of 0.0224. A failure to hold above 0.0219 could trigger a pullback toward 0.0216. Investors should remain cautious, as overbought conditions may persist despite current strength.
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