Market Overview: Compound/Tether (COMPUSDT) 24-Hour Performance

Summary
• COMPUSDT traded within a 23.48–24.44 range, forming a bullish engulfing pattern near the session high.
• Momentum surged above 20-period MA on strong volume, suggesting a potential short-term breakout.
• RSI hit 68 late in the session, indicating moderate overbought conditions.
• Bollinger Bands expanded, showing increasing volatility ahead of a key 24.25–24.44 resistance cluster.
• Turnover spiked to $80,919,766 at 12:00 ET, coinciding with a sharp rally from 24.07 to 24.37.

Compound/Tether (COMPUSDT) opened at 23.66 on 2025-12-21 at 12:00 ET and reached an intraday low of 23.48 before surging to a high of 24.44 by 12:00 ET on 2025-12-22. The 24-hour session closed at 24.37, with total volume of 74,174.69 and turnover of $80,919,766. The price action suggests a strong reversal trend toward the upper end of a key resistance band.

Structure & Formations

The 5-minute chart revealed a bullish engulfing pattern around 24.16 at 09:30 ET, followed by a continuation of upward momentum.

A doji formed at 24.13 at 10:45 ET, signaling a brief consolidation. Key support levels emerged at 23.93 and 23.81, with resistance forming between 24.25 and 24.44. The price action appears to be building a base ahead of a potential breakout or retest of prior highs.

Moving Averages

On the 5-minute chart, the 20-period MA trended upward, crossing above the 50-period MA, forming a potential golden cross. The price closed near the 20 MA, confirming short-term bullish momentum. On the daily chart, the 50-period MA sits at 24.05, with the 100- and 200-period MAs slightly lagging, indicating a possible continuation of the upward trend.

MACD & RSI

The MACD line showed a positive crossover above the signal line around 24.07, coinciding with a sharp price rally. The histogram expanded as the price surged above 24.30, reinforcing bullish momentum. RSI moved into overbought territory (68) at the close, suggesting a potential pullback or consolidation before further upside.

Bollinger Bands

Bollinger Bands expanded during the late hours of the session as volatility increased. The price closed near the upper band at 24.37, suggesting strong buying pressure. A potential test of the upper band may occur if the current bullish trend continues without a correction to the mid-band.

Volume & Turnover

Volume spiked to 1,617.65 at 17:00 ET, with a corresponding notional turnover of $38,975,230, confirming the strength of the breakout move. The divergence between volume and price was minimal, indicating aligned sentiment. The high turnover suggests increased participation and potential follow-through from institutional or large retail players.

Fibonacci Retracements

Applying Fibonacci retracement to the recent 5-minute swing from 23.81 to 24.44, key levels at 24.25 (38.2%) and 24.11 (61.8%) were tested. The price appears to have found support at 24.11 before surging higher, suggesting strong demand in that range. On the daily chart, retracements from prior moves indicate potential support at 23.93 and 23.77, with resistance forming above 24.25.

The price may test key resistance above 24.37 in the next 24 hours, potentially reaching 24.44 if momentum holds. However, a retest of 24.11–24.25 could occur if volatility eases. Investors should monitor volume and RSI levels for early signs of exhaustion or continuation.