Summary
• Price declined intraday but found support near 0.0415 before reversing higher.
• Momentum turned positive in the final hours, with volume confirming the reversal.
• Key 0.0425 level held as both resistance and support, showing its psychological significance.
• Bollinger Bands expanded, suggesting increasing volatility toward the close.
• RSI moved out of oversold territory, hinting at a possible near-term rebound.
Market Overview
At 12:00 ET-1, Civic/Tether (CVCUSDT) opened at 0.0426, hit a low of 0.0415, and closed at 0.0425 by 12:00 ET today. Total volume reached 2.86M, while notional turnover stood at $121,400.
Structure and Moving Averages
Price carved a distinct U-shaped reversal over the 24-hour period, with 0.0425 acting as a critical pivot point.
On the 5-minute chart, the 20-period and 50-period moving averages crossed into positive territory in the final four hours, indicating short-term bullish bias. Daily moving averages (50/100/200) remain in a bearish alignment but have begun to flatten, suggesting potential for a trend reversal.
Momentum and Indicators
MACD turned positive in the afternoon, confirming the reversal in momentum. RSI exited oversold territory at 30 and closed near 50, pointing to a potential stabilizing trend. Bollinger Bands expanded as price swung between 0.0415 and 0.0427, indicating heightened volatility toward the close.
Volume and Divergence
Volume surged near the 0.0415 support level and again as price retested 0.0425, confirming the reversal. Notional turnover rose in tandem with price, reducing the likelihood of a false breakout. No major divergence was observed between volume and price.
Fibonacci and Key Levels
Price bounced near the 0.0415 level, which aligned with a 61.8% Fibonacci retracement of the 0.0427 to 0.0415 swing. On the daily chart, 0.0425 remains a critical psychological level, with a 61.8% retracement at 0.0417 offering near-term support.
Looking ahead, the next 24 hours could see a test of 0.0425 resistance and a potential break above it. A sustained move above this level could signal a broader reversal. Investors should monitor the 0.0417 support level for further validation. As with all volatile assets, sudden moves below key levels could trigger renewed bearish pressure.
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