Market Overview for First Digital USD/Tether (FDUSDUSDT) – 2025-11-08

Summary

• Price remained tightly range-bound near 0.9975, with minimal directional bias.• Volatility was low, with Bollinger Bands constricting and RSI hovering near the midline.• Volume dipped slightly in the afternoon, with no significant divergences observed.

Market Overview

First Digital USD/Tether (FDUSDUSDT) opened at 0.9972 on 2025-11-07 at 12:00 ET and closed at 0.9976 by 12:00 ET on 2025-11-08. The 24-hour range extended between 0.9972 (low) and 0.998 (high). Total volume for the 24-hour window was 102,616,173.0 units, with a notional turnover of approximately $102,153,227. Price action was characterized by consolidation with no clear momentum breakout.

Price behavior was largely sideways with no definitive trend formation. Notable support appears at 0.9975–0.9976, which was tested and held multiple times during the session, while resistance is at 0.998, which failed to break. No significant candlestick patterns (e.g., engulfing, doji) emerged during the session.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages closely aligned, with the 20 SMA slightly above the 50 SMA, suggesting a potential bias toward consolidation. For daily timeframes, the 50, 100, and 200-period moving averages remained relatively flat, reinforcing the notion of a neutral to slightly bullish setup without a strong directional signal.

MACD & RSI

The MACD indicator showed a flat histogram and a centerline crossover, suggesting no strong momentum either way. RSI oscillated between 48 and 52, indicating a neutral market with no overbought or oversold conditions observed. Price remains within a balanced equilibrium, without strong signs of exhaustion or acceleration.

Bollinger Bands

Bollinger Bands were narrow and constricting, indicating low volatility. Price remained within the mid-band most of the session, with no breakouts above or below the outer bands. This pattern could foreshadow a potential breakout or continued consolidation.

Volume & Turnover

Volume was generally low, with a peak of 15,645,669 units at 20:30 ET and a trough of 110,126 units at 04:15 ET. Notional turnover mirrored this pattern, with no divergences observed between price and volume action. This suggests no significant accumulation or distribution, and no reversal signals based on flow.

Fibonacci Retracements

On the 15-minute chart, the 0.9975 level corresponds to a 38.2% retracement from the day’s high of 0.998 and is likely acting as a key support level. The 61.8% level at 0.9973 has been tested multiple times and also serves as a potential floor for near-term trading.

Backtest Hypothesis

The backtested “MACD Golden Cross + 5-day Hold” strategy showed limited effectiveness for the U.S. stock FDUS.O over the 2022–2025 period, with a total return of -1.9% and an average trade return of -0.02%. This highlights the importance of refining entry/exit rules, incorporating trend filters, and adjusting holding periods to improve performance. While the current technical setup for FDUSDUSDT does not align directly with the strategy, it underscores the need to adapt indicators and timeframes to better suit the asset class and volatility profile. Testing this approach on crypto pairs with clearer momentum characteristics may yield more meaningful results.