Summary
• Price surged from $0.04574 to $0.04975, finding support at $0.0468 and resistance at $0.0495.
• Strong momentum in early hours, with RSI peaking near overbought levels and later correcting.
• Volume spiked during the $0.04766 to $0.04956 rally, confirming upward pressure.
• Bollinger Bands expanded during the rally, indicating increased volatility.
• Fibonacci 61.8% support held at $0.0472, while 38.2% resistance stalled at $0.04887.
Civic/Tether (CVCUSDT) opened at $0.04574 (12:00 ET – 1), rose to a high of $0.04975, and settled at $0.04696 (12:00 ET) with a low of $0.04684. The 24-hour volume was 34,929,914.0, and turnover reached $1,674,438.81.
Structure & Formations
A strong bullish engulfing pattern formed at the start of the rally around $0.04752 to $0.04802, signaling renewed buying interest. A key support level appears at $0.04685–0.04714, where price has bounced twice. A bearish rejection near $0.04956 suggests potential short-term resistance.
Moving Averages
On the 5-minute chart, price closed above the 20 and 50 EMAs, suggesting short-term bullish momentum. On the daily timeframe, the 50 and 100 EMAs remain close, indicating a consolidation phase.
MACD & RSI
MACD showed a bullish crossover early in the session and remained positive for much of the day. RSI peaked near 75 before retreating, indicating a possible overbought condition. The subsequent correction into the 50–60 RSI range suggests equilibrium could be restored.
Bollinger Bands
The price broke out of a tight Bollinger Band contraction early in the session and traded within a wide range for much of the day, suggesting increased volatility. The upper band acted as a temporary ceiling around $0.0495, while the lower band supported the $0.04714 level.
Volume & Turnover
Volume surged during the $0.04766 to $0.04956 rally, with a peak of 6.6 million CVC at $0.04956, confirming the move. Turnover also increased in line with the price action, showing no significant divergence. The afternoon sell-off had moderate volume, suggesting a test of support rather than a breakdown.
Fibonacci Retracements
Key Fibonacci levels at 38.2% ($0.04887) and 61.8% ($0.0472) were significant. The price stalled at 38.2% during the afternoon and found support at 61.8% in the early evening, indicating a possible range-bound continuation.
The rally appears to be driven by renewed institutional or large-cap investor interest, given the high volume and orderly price action. However, with RSI retreating and Bollinger Bands showing signs of contraction again, a consolidation phase is possible. Investors should watch the $0.0472–0.04887 range for the next 24 hours, with a caution for potential short-term volatility if key levels are tested.
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