Summary
•
formed bearish structure with key support at 0.01174 and resistance at 0.01194.
• Volume surged during downward moves, confirming bearish momentum.
• RSI and MACD signal moderate bearish bias, with price near lower Bollinger Band.
• 24-hour volatility remains contained, with no clear breakout attempted.
• Price action suggests consolidation near 0.01181, with possible 38.2% Fib support at 0.01176.
FIO Protocol/Tether (FIOUSDT) opened at 0.01193 at 12:00 ET–1, reaching a high of 0.01198 and a low of 0.01172 before closing at 0.01184 by 12:00 ET. Total traded volume amounted to 3,072,889.0, with a notional turnover of 36,122.72.
Structure & Moving Averages
Price action over the 5-minute chart showed a bearish consolidation after a sharp decline from 0.01198 to 0.01172. A key support level appears at 0.01174, where price rebounded multiple times. The 20- and 50-period moving averages on the 5-minute chart are both below the current price, suggesting short-term bearish bias.
Momentum and Volatility Indicators
The RSI remains in neutral to slightly oversold territory, having dipped near 30 during the session’s low. MACD is negative but not diverging significantly, suggesting moderate bearish momentum. Bollinger Bands are narrow, indicating contained volatility, with price currently near the lower band, hinting at potential short-term support.
Volume and Fibonacci Levels
Volume surged during the key selloff between 18:30 and 20:00 ET, confirming the bearish move. Notional turnover followed volume closely, with no signs of divergence. Fibonacci retracement levels from the 0.01198 high to 0.01172 low suggest potential support at 38.2% (0.01176) and resistance at 61.8% (0.01186).
Over the next 24 hours, FIOUSDT may attempt a test of the 0.01176 support or retest the 0.01186 level if buyers emerge. Traders should watch for any divergence in volume and RSI to signal a potential reversal, but caution is warranted due to the low liquidity in the morning hours.
Comments
No comments yet