Market Overview for Compound/Tether (COMPUSDT)

Summary
• Price action formed bearish engulfing patterns and tested key support near $24.50–24.60.
• RSI and MACD signaled weakening momentum with bearish divergence as price fell.
• Volatility expanded in early hours, with volume surging during the $24.50 breakdown.
• Bollinger Bands showed price tightening during consolidation near $24.80–24.90.
• Fibonacci levels highlighted critical 61.8% retracement at $24.65, now acting as resistance.

24-Hour Market Summary

At 12:00 ET on 2025-12-19, Compound/Tether (COMPUSDT) opened at $25.81 and closed at $24.82, with a high of $25.87 and a low of $24.49. Total volume reached 74,208.88, while notional turnover amounted to approximately $1,837,192. The pair experienced a bearish reversal from intraday highs amid increased volatility and bearish momentum cues.

Structure and Formations

A bearish engulfing pattern emerged around $25.40–25.53 on the 5-minute chart, reinforcing downward pressure. Price found temporary support at $24.50–24.60, but failed to hold above $24.70, suggesting this area may continue to act as a key hurdle. A bullish reversal candle at $24.50–24.81 failed to sustain gains, highlighting internal weakness in the short-term trend.

Moving Averages and Momentum

On the 5-minute chart, price broke below key moving averages (20SMA and 50SMA), reinforcing the bearish tilt. The daily timeframe shows the 50DMA at ~$24.90 and 200DMA at ~$25.15 providing structural resistance. RSI dipped into oversold territory below 30 near $24.49–24.50, but failed to produce a strong rebound, pointing to possible exhaustion in the rally. MACD remained in negative territory with bearish crossover signals.

Volatility and Bollinger Bands

Bollinger Bands showed a period of contraction between 02:00 and 04:00 ET, followed by expansion as price moved lower. The breakdown below the lower band at $24.49 marked a significant move, increasing the probability of a test of the 61.8% Fibonacci level at $24.65.

Fibonacci and Key Levels

A recent 5-minute swing from $25.87 to $24.49 saw price retesting the 61.8% Fibonacci retracement at $24.65. This level has now acted as resistance on the daily chart, with price likely to face challenges if it approaches again. The 50% retracement at $25.15 remains a key psychological level above which a bullish reversal could occur.

With the price consolidating around $24.80–24.85 and key support at $24.60–24.50 in play, the next 24 hours may see a test of this range or a potential bounce off the 20SMA. Investors should remain cautious of a break below $24.50, which could trigger renewed selling pressure and open the door to lower levels.