Market Overview for FUNToken/Tether (FUNUSDT) on 2025-10-07

• Price declined from 0.008908 to 0.008636 amid a volatile 24-hour session.
• RSI and MACD signaled bearish momentum with overbought-to-oversold transition.
• Bollinger Bands widened, indicating rising volatility and potential consolidation.
• Volume spiked in late ET, but failed to support a meaningful reversal.
• Key support levels at 0.008812 and 0.008701 were tested and breached.

24-Hour Price Action and Volume

FUNToken/Tether (FUNUSDT) opened at 0.008859 on 2025-10-06 at 12:00 ET and closed at 0.008654 on 2025-10-07 at 12:00 ET. The pair reached a high of 0.008951 and a low of 0.008636 during the 24-hour period. Total volume amounted to 34,664,484.0 FUN, with a notional turnover of $298,653.04 (based on average price of ~$0.00888). The price action was marked by sharp intraday swings and a bearish close, especially following the 15:15 ET price drop.

Structure & Formations

Price action showed a bearish bias with several key support levels tested and breached. A notable bearish engulfing pattern appeared at the start of the downturn, at 19:30 ET, confirming a shift in momentum. A doji formed at 03:45 ET, indicating indecision after the early rally, and a bearish harami at 08:00 ET suggested a potential pullback. Key support levels include 0.008812, 0.008701, and 0.008640, while resistance levels at 0.008857, 0.008892, and 0.008916 were all tested but failed to hold.

Moving Averages and MACD/RSI

On the 15-minute chart, the 20-period and 50-period moving averages remained bearish, with price closing below both. The 50-period MA acted as a dynamic resistance in the late hours. MACD turned bearish in the final 6 hours of the session, with a bearish crossover in the 15:30–16:00 ET window. RSI dropped from overbought territory (above 65) to oversold (below 30), signaling exhaustion in the downtrend and potential for a bounce. However, the bearish momentum remains intact, with RSI still trending downward.

Bollinger Bands saw a noticeable expansion in the morning hours, with price reaching the upper band during the early rally. As volatility increased, price moved to the lower band, confirming a bearish bias. A contraction was observed in the final 4 hours, indicating potential consolidation and setting up for a possible breakout.

Volume and Turnover Dynamics

Volume increased sharply during the late hours of the session, particularly after 04:00 ET, with the largest single 15-minute volume spike at 05:15 ET (4.06 million FUN). Despite this, price failed to form a significant low and continued its decline. Turnover also spiked during this window, aligning with the volume surge. However, this failed to support a meaningful reversal, suggesting selling pressure was strong. A divergence between bullish price action and bearish volume/turnover dynamics was evident in the late afternoon, indicating bearish conviction.

Fibonacci Retracements and Key Levels

Applying Fibonacci to the swing high at 0.008951 and the subsequent low at 0.008823, key retracements of 38.2% at 0.008888 and 61.8% at 0.008857 were both tested. Price found temporary resistance at 0.008857 and 0.008892 before breaking lower. On the daily chart, Fibonacci levels drawn from the prior week’s high at 0.009025 and the low at 0.008748 showed 38.2% at 0.008880 and 61.8% at 0.008805, both aligning with intraday support levels. This suggests that a bounce from the 0.008701 support could test the 0.008805 level next.

Backtest Hypothesis

A potential backtest strategy could involve a short trade triggered on a bearish engulfing pattern combined with a MACD bearish crossover and RSI crossing into oversold territory. Stops could be placed above the nearest resistance level (0.008857), with targets set at the 61.8% Fibonacci level at 0.008805 and the 0.008701 support. If confirmed, a trailing stop could follow the price as it consolidates. This approach aligns with the observed technical setup and may offer a risk-reward profile of 1:1 to 1:2, depending on volatility and execution timing.