Summary
•
traded in a bullish consolidation phase after a sharp rally, forming bullish engulfing and bullish reversal patterns.
• Momentum accelerated during the 24-hour period, with MACD and RSI suggesting strong upward bias but not overbought territory.
• Volatility expanded with a clear break from the lower Bollinger Band, and turnover confirmed price action without divergence.
• A key support cluster emerged near $25.31–25.38, with the 20-period 5-min MA acting as dynamic support.
Price and Volume Activity
Compound/Tether (COMPUSDT) opened at $25.44 on 2025-12-30 12:00 ET, reached a high of $26.67, a low of $25.20, and closed at $25.31 on 2025-12-31 12:00 ET. Total volume amounted to 68,773.14, with $1,819,033.53 in notional turnover across the 24-hour window.
Structure and Momentum
The price formed a series of bullish engulfing and reversal patterns during the late hours of the 24-hour period, particularly around $25.20–25.31, indicating potential short-term buying interest. Momentum, as reflected in the MACD, remained positive throughout, with no signs of overbought levels despite the rally. RSI reached a high of 62.8, signaling continued upward bias with room to extend.
Volatility and Volume Profile
Volatility expanded as the price broke out of a tight Bollinger Band contraction and moved into a wide range, with the closing candle near the lower band. Volume and turnover aligned well, confirming the price action without divergence. The largest spike in turnover occurred during the 9:15–9:30 ET window, coinciding with the peak of the rally.
Key Levels and Fibonacci Retracements
The 5-minute chart shows support forming at the 61.8% Fibonacci retracement of the recent upswing near $25.31–25.38, while resistance is likely near $25.52–25.64. The 20-period 5-min MA acted as a dynamic support line during the consolidation phase.
The market appears to be testing key support levels following the upward breakout, and a retest of these levels could provide confirmation of strength. Traders should remain cautious of short-term volatility and a potential pullback if volume fails to confirm further bullish follow-through in the next 24 hours.
Comments
No comments yet