Market Overview for eCash/Tether (XECUSDT)

• Price climbed from $0.00001438 to $0.00001478, showing a late-day bullish thrust amid strong volume.
• Key support $0.00001435–0.00001440 held multiple times; resistance at $0.00001470–0.00001480 was tested and briefly breached.
• Momentum remained constructive with RSI rising above 50 and MACD trending higher, indicating ongoing buyer pressure.
• Volume surged 3x during the breakout at $0.00001470, confirming a potential shift in near-term bias.
• Price action showed bullish engulfing patterns late in the session, with a long upper shadow near the close suggesting consolidation.

XECUSDT opened at $0.00001439 on 2025-10-23 at 12:00 ET, reached a high of $0.00001478, and closed at $0.00001465 the following day at the same time. The 24-hour period saw a total volume of 7.29 billion XEC and a notional turnover of $105.8 million, reflecting heightened interest during late-day and overnight trading hours.

On the 15-minute chart, price broke out of a consolidation pattern above $0.00001465, supported by a sharp increase in volume during the 12:00–13:00 ET window. The 20-period moving average crossed above the 50-period line, forming a bullish crossover. The 50-period MA now resides beneath the price, suggesting a potential continuation of the recent upward bias. The daily chart remains within the 200-day MA, indicating a neutral-to-bullish intermediate-term tone.

MACD remains positive and trending upward, with the MACD line above the signal line, reinforcing the bullish momentum. RSI has moved into overbought territory at 57, suggesting a possible pause but not necessarily a reversal. Price appears to have held above the upper Bollinger Band for several candles before retracting, indicating a volatility expansion and a test of bullish conviction.

Fibonacci retracements on the 15-minute swing from $0.00001435 to $0.00001470 show $0.00001457 (38.2%) and $0.00001447 (61.8%) as key levels for potential pullback targets. On the daily chart, $0.00001460 aligns with a 61.8% retracement of a broader bullish wave, offering potential near-term support.

Backtest Hypothesis
The technical setup described above aligns with a MACD bottom divergence strategy, where entry is triggered by a bullish divergence and exit by a bearish MACD crossover. Given the recent MACD strength and volume confirmation, the conditions suggest a viable signal window. A backtest using this rule on historical XECUSDT data could provide insights into the strategy's effectiveness in capturing short-term bullish momentum. To proceed, I will need confirmation on whether to use the default bearish MACD crossover exit or another rule.