Market Overview for Compound/Tether (COMPUSDT) on 2025-09-23

• Price surged past $42.20 before retreating, closing near $41.66 after a volatile 24-hour session.
• Strong volume spikes confirmed key resistance breaks, but a bearish divergence in RSI suggests caution.
• Bollinger Bands expanded significantly, highlighting increased volatility amid mixed candlestick signals.
• Notable 15-minute bullish and bearish engulfing patterns were observed during intraday corrections.
• Total turnover reached ~$169,500, with volume peaking in early evening ET and tapering by early morning.

24-Hour Summary

Compound/Tether (COMPUSDT) opened at $41.48 on 2025-09-22 at 12:00 ET and closed at $41.66 by 12:00 ET on 2025-09-23. The pair surged to a high of $42.26 and dipped to a low of $41.13. Over the 24-hour window, the total volume traded was approximately 33,054 COMP, with a notional turnover of around $1,387,180. The price action was marked by strong intraday volatility and several key technical signals.

Structure & Formations

Price action over the 24-hour period showed a bearish reversal pattern emerging as resistance levels at $42.20–$42.26 failed to hold. A bearish divergence in the RSI confirmed weakening momentum. Notable patterns included a bullish engulfing candle at $42.12–$42.23 and a bearish engulfing candle at $42.26–$42.13. Key support levels include $41.62, $41.50, and $41.31, while resistance is clustered between $41.75–$42.00. A morning doji at $41.40 and a midday bullish engulfing pattern at $41.94 signaled indecision and bullish conviction, respectively.

Moving Averages and Momentum

On the 15-minute chart, price spent most of the session above the 20-period EMA, but closed below the 50-period EMA, indicating mixed momentum. The daily chart shows a bearish crossover of the 50-period EMA and the 200-period SMA, reinforcing the possibility of a medium-term downward correction. MACD showed a bearish crossover, with negative momentum expanding after 6:00 PM ET. RSI peaked at 70 during the session high and fell to 33 near the close, suggesting overbought conditions may have been exhausted and a short-term oversold condition is forming.

Bollinger Bands and Volatility

Bollinger Bands expanded significantly during the morning and early evening hours, with the price frequently bouncing between the upper and lower bands. Price touched the upper band at $42.26 before retreating. The midday contraction followed by a wide expansion indicated a key volatility shift. By the end of the session, price was positioned near the midpoint of the bands, suggesting a potential consolidation phase ahead.

Volume and Turnover Analysis

Volume spiked during the late afternoon and early evening hours, with a total volume of 33,054 COMP traded over the 24 hours. The largest single candle volume occurred at 9:00 PM ET, with 5,541 COMP traded. Turnover reached a peak of $422,850 during the 3:30–4:00 PM ET period, confirming the break of key resistance levels. A bearish divergence appeared between price and turnover after 10:00 PM ET, where price continued to fall while turnover dropped, suggesting a potential pause in selling pressure.

Fibonacci Retracements and Key Levels

Fibonacci levels derived from the key swing high at $42.26 and swing low at $41.13 highlighted critical retracement levels. The 50% retracement at $41.69 was approached but not tested directly, while the 61.8% retracement at $41.56 coincided with strong support. The 38.2% retracement at $41.83 acted as a minor resistance during the afternoon. These levels could determine the next directional move depending on the strength of the bounce or breakdown.

Backtest Hypothesis

A potential backtesting strategy could involve entering short positions after a bearish engulfing candle forms at key resistance levels (e.g., $42.00–$42.20) and exiting when price breaks a key Fibonacci support (e.g., $41.56–$41.31). A stop-loss could be placed at the 50-period EMA or above the next resistance level to manage risk. Given the bearish MACD and RSI divergence, this strategy may have a higher success rate in the next 24–48 hours if volatility remains high.