Market Overview for FIO Protocol/Tether (FIOUSDT) – 2025-10-24

• FIO Protocol/Tether consolidates after a bearish early session, finding support near 0.01295.
• Midday recovery on higher volume suggests short-term bullish momentum.
• Volatility remains moderate, with price hovering near the 0.01310-0.01320 range.
• RSI data unavailable; momentum assessments are based on price action and volume.
• Downturn in turnover in the late session hints at weakening conviction in the move.

FIO Protocol/Tether (FIOUSDT) opened at 0.01316 on 2025-10-23 at 12:00 ET, reaching a high of 0.01327 before closing at 0.01314 at 12:00 ET on 2025-10-24. The 24-hour range was between 0.01284 and 0.01327, with a total volume of 95,651,066.00 and turnover (notional value) of 1,262.58. The pair spent much of the session consolidating but showed a late-day rally on increased volume.

Structure & Formations

The 24-hour candlestick chart displays a choppy price action with no clear trend formation. A key support level appears to be forming near 0.01295–0.01298, where price has bounced multiple times during the session. A bearish engulfing pattern was observed around 18:15 ET, indicating a short-term reversal. Later, a bullish reversal pattern emerged near 05:15 ET, signaling a temporary recovery. No strong doji formations were observed, but the price hovered tightly between 0.01310 and 0.01320 in the second half of the day.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were closely aligned, suggesting a relatively flat market. The 50-period MA crossed slightly above the 20-period MA in the early morning hours, indicating a temporary bullish bias. On the daily chart, the 50-period, 100-period, and 200-period moving averages were all closely aligned, suggesting a consolidation phase with no clear long-term directional bias.

Bollinger Bands

Bollinger Bands reflected moderate volatility. Price frequently tested the lower band in the first half of the session, particularly around the 0.01295–0.01298 level. In contrast, the price approached the middle band in the early morning and late afternoon, indicating some consolidation. The width of the bands remained stable, suggesting no significant expansion or contraction in volatility.

Volume & Turnover

Volume spiked during the midday downtrend and again in the late morning recovery. The largest volume spike occurred at 06:15 ET, with a turnover of 0.01337 and a high of 0.01340, signaling a strong bullish attempt. However, late in the session, volume and turnover declined, suggesting weakening conviction in both upward and downward moves. A divergence between price and volume was observed in the late afternoon, where price continued to rise but volume failed to confirm, hinting at potential exhaustion in the bullish momentum.

Fibonacci Retracements

Applying Fibonacci retracements to the major swing from 0.01284 (low) to 0.01327 (high), key levels were observed at 0.01309 (38.2%) and 0.01320 (61.8%). Price frequently tested the 61.8% level in the late morning and again in the early afternoon, failing to break above it. The 38.2% level acted as support twice in the session and may continue to serve as a key reference point for near-term price action.

Backtest Hypothesis

The inability to retrieve the RSI data presents a challenge for assessing overbought or oversold conditions. However, based on the volume and price action, we can hypothesize that a potential backtest could focus on identifying short-term reversals using volume divergences and Fibonacci levels. For example, a long signal might be triggered when price tests a key Fibonacci level (e.g., 0.01309 or 0.01320) with increasing volume and a bullish candlestick pattern such as a hammer or morning star. A short signal could be triggered by bearish engulfing or dark cloud cover patterns with declining volume and price testing a key resistance level.