Market Overview for eCash/Tether (XECUSDT)

• Price drifted upward with a bullish bias, forming key resistance at $0.00001826 by 12:15 ET.
• Volume surged during morning hours, peaking at $0.00001825 before consolidating.
• RSI and MACD show moderate bullish momentum, with no clear overbought conditions.
• Bollinger Bands expanded during the rally, indicating increased volatility in late trading.
• Turnover and volume remained in sync, supporting the legitimacy of the price rally.

At 12:00 ET−1 on 2025-09-23, eCash/Tether (XECUSDT) opened at $0.00001801 and closed at $0.00001822 by 12:00 ET on 2025-09-24. The price reached a high of $0.00001838 and a low of $0.00001759 during the period. Total trading volume was 9.125B XEC, and notional turnover amounted to $1.663M.

Structure & Formations

Price action over the 24-hour window showed a clear bullish bias, with a late-day breakout above prior resistance near $0.00001825. A small bullish engulfing pattern formed at $0.00001821 during the 12:30–12:45 ET window. A key support level appears at $0.00001814, which held during a temporary pullback on the morning of 2025-09-24. No significant doji patterns were observed, suggesting buyers maintained control during the session.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA during the late afternoon of 2025-09-23, confirming a bullish crossover. The daily chart shows the price above both the 50-period and 200-period MAs, indicating a longer-term uptrend remains intact. The 100-period daily MA at $0.00001812 acts as a potential support level and a trigger for further momentum.

MACD & RSI

The 15-minute MACD showed a bullish divergence as price made higher highs while the MACD histogram expanded positively. RSI peaked at 62 near the 15:00–15:15 ET window and has since declined to 52 as of the 16:00 ET candle. While not yet overbought, the indicator suggests some exhaustion in the rally. The daily RSI sits at 58, still in neutral territory, suggesting further upside could be possible with continued buyer participation.

Bollinger Bands

Volatility increased throughout the day, with Bollinger Bands expanding from a width of ~0.00000017 at 12:00 ET−1 to ~0.00000044 by 12:00 ET. Price closed near the upper band at $0.00001826, indicating strong conviction in the recent upward move. The lower band at $0.00001783 provided a floor during the pullback, suggesting traders may view this level as a strategic entry point.

Volume & Turnover

Trading volume spiked during the morning hours, particularly around $0.00001821–$0.00001825, with a total of 1.72B XEC traded. Notional turnover moved in line with volume, confirming the legitimacy of the price increase. A minor divergence appeared between price and volume during the late afternoon of 2025-09-23, as volume dipped during a pullback, but this did not prevent a strong rebound.

Fibonacci Retracements

Applying Fibonacci levels to the 24-hour swing from $0.00001759 to $0.00001838, the 61.8% retrace level is at $0.00001805, which acted as a support during the morning pullback. The 38.2% retrace level at $0.00001794 saw minimal interaction and appears less relevant. On the daily chart, the 50% retrace level at $0.00001775 is near the key consolidation area observed over the prior week and may be a watch level for potential bearish pressure.

Backtest Hypothesis

Given the technical setup—particularly the bullish engulfing pattern and the RSI/MA alignment—this market could benefit from a trend-following strategy that enters on a breakout above the 15-minute Bollinger Band upper edge, confirmed by a close above $0.00001825. A stop loss could be placed at $0.00001805, the 61.8% Fibonacci level, with a take profit target at $0.00001838. This approach would leverage the current momentum and structure while managing risk with a defined stop.