Summary
• Price action formed bearish patterns with key support at 1.032e-05 and resistance at 1.042e-05 on the 5-minute chart.
• RSI suggests mild oversold conditions, but momentum remains weak throughout the session.
• Volatility expanded during the late ET hours, with volume surging on downward moves.
• Bollinger Bands tightened mid-session before a sharp price drop pushed price near the lower band.
• Turnover was uneven, with strong selling pressure after 19:00 ET and consolidation overnight.
At 12:00 ET-1 on 2025-12-22, eCash/Tether (XECUSDT) opened at 1.06e-05, reached a high of 1.061e-05, and a low of 1.013e-05, closing at 1.032e-05 by 12:00 ET on 2025-12-23. Total 24-hour volume was 6.79e+09 and notional turnover (volume × price) was approximately $694,500.
Structure & Formations
Price action showed a bearish bias with a key support at 1.032e-05 and resistance near 1.042e-05. A bearish engulfing pattern formed after 19:00 ET, followed by a long lower shadow suggesting rejection at 1.035e-05. The 5-minute chart displayed a broad range with no clear trend, but downward momentum dominated the final hours.
Moving Averages
On the 5-minute chart, the 20-period MA (1.039e-05) and 50-period MA (1.037e-05) were both in a slight bullish crossover, but prices remained below them most of the session. On the daily chart, the 50-period MA (1.03e-05) and 200-period MA (1.02e-05) suggest a neutral to slightly bearish setup, with recent price action testing the 50 MA.
MACD & RSI
MACD showed a bearish crossover in the late ET hours, confirming the downward shift in sentiment. RSI dipped into oversold territory near 30 in the last 3 hours of the session, but failed to reverse the trend, signaling a possible continuation lower. Momentum appears to be waning, with no sign of a reversal at this time.
Bollinger Bands
Volatility tightened between 01:00 and 08:00 ET, with price consolidating near the midline. After 14:00 ET, volatility expanded sharply, and a strong bearish move pushed price close to the lower Bollinger Band. The move suggests increasing bearish pressure, with potential for further short-term weakness if support fails.
Volume & Turnover
Volume spiked during the late ET bearish leg (19:00–20:00 ET), with a large block of 903.8M volume at 1.043e-05–1.045e-05. Turnover was uneven, showing divergences between high-volume consolidation and sharp drops. The final 24 hours saw a strong selling bias, especially below 1.04e-05.
Fibonacci Retracements
Applying Fibonacci to the key 5-minute swing from 1.061e-05 to 1.013e-05, price found temporary support at the 61.8% level (1.038e-05) and then tested the 50% level (1.037e-05). On the daily chart, the 38.2% retracement (1.03e-05) appears to be a critical level for near-term direction.
Looking ahead, traders may watch for a test of the 1.032e-05 support level and whether price holds above 1.03e-05. A break below 1.03e-05 could accelerate the downtrend. Investors are advised to remain cautious as volatility remains elevated and momentum favors the bearish side.
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