Summary
•
broke below key support at $26.50, signaling bearish momentum.
• RSI entered oversold territory, hinting at possible short-term bounce.
• Volume spiked during the drop to $26.06, confirming the bearish move.
• Bollinger Bands tightened before the breakdown, foreshadowing volatility.
• A bullish hammer near $26.10 may offer near-term support.
At 12:00 ET–1, Compound/Tether (COMPUSDT) opened at $26.62, reached a high of $26.85, and a low of $25.93 before closing at $26.13 at 12:00 ET. Total volume for the period was 13,287.76 units, with a notional turnover of $348,810.77.
Structure and Trends
Price action displayed a clear breakdown below the 26.50 psychological and Fibonacci level, with bearish momentum intensifying after 15:45 ET. A large bearish candle at $25.93 confirmed the selloff.
Volatility and Indicators
Bollinger Bands showed a contraction before the breakdown, followed by a sharp expansion. RSI hit oversold levels near 25, suggesting a potential short-term bounce, though bearish pressure remains dominant. MACD diverged from price during the decline, reinforcing the bearish bias.
Volume and Turnover
Volume spiked during the selloff to $26.06, confirming bearish conviction. Turnover diverged slightly from price during the recovery phase, hinting at weak buying interest. A bullish hammer at $26.10 may offer a short-term bounce.
Forward Outlook and Risk
The breakdown below 26.50 could test support at $26.30 and potentially the 26.10–26.20 range. However, a rebound from oversold RSI might trigger short-term buyers. Traders should be cautious of further downside if the 26.00 level is breached, with increased volatility expected.
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