Market Overview for Harmony/Tether (ONEUSDT) on 2025-11-12

Summary
• ONEUSDT opened at $0.00576, with a high of $0.00584 and a low of $0.00536 before closing at $0.00543.
• Total volume was 49,797,661.9, with turnover reaching $269,861,482.
• A bearish divergence in price and volume suggests weakening bullish momentum.

Harmony/Tether (ONEUSDT) opened at $0.00576 at 12:00 ET - 1 and closed at $0.00543 at 12:00 ET on 2025-11-12. The pair reached a high of $0.00584 and a low of $0.00536 during the 24-hour window, with a total trading volume of 49,797,661.9 and a notional turnover of $269,861,482. The price action showed a bearish bias, with a broad retracement from the early morning highs.

Structure & Formations

The price formed a broad bearish structure, with a significant break below the 0.0056 psychological level. A series of bearish engulfing patterns appeared late in the session, particularly from 03:00 to 04:45 ET, which could signal increased bearish sentiment. Key support levels were identified at 0.00555 and 0.00545, while 0.00575 and 0.00585 acted as immediate resistance.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended downward, with the 20 MA crossing below the 50 MA in the late hours, suggesting a bearish crossover. On the daily chart, the 50-period MA sits above 0.00575, and the 200 MA at 0.00565, indicating ONEUSDT remains below its long-term average.

MACD & RSI

The MACD turned negative by late afternoon, confirming a bearish momentum shift. The RSI dropped to 35, signaling oversold conditions, though it remains far from the critical 30 level. The divergence between RSI and price suggests a possible rebound, but the bearish bias is likely to persist in the near term.

Bollinger Bands

Volatility expanded as the pair broke below the lower Bollinger Band, with the bands widening during the late hours. Price action remained near the lower band for most of the session, indicating a high degree of bearish pressure. The 20-period Bollinger Band width increased to 0.00018, suggesting a potential consolidation phase ahead.

Volume & Turnover

Volume spiked significantly around the 03:00–04:00 ET timeframe, coinciding with a sharp price decline. Turnover confirmed the bearish move, with the highest notional volume observed during the session’s bearish breakout. The price-volume divergence in the morning hours hinted at distribution, but the late session volume surge reinforced the bearish narrative.

Fibonacci Retracements

The price retested the 61.8% Fibonacci level of the morning high at 0.00559 before falling further. On the daily chart, the 38.2% retracement of the prior high is at 0.00582 and could act as a near-term resistance. The 61.8% retracement at 0.00570 may offer temporary support in the coming sessions.

Backtest Hypothesis

To validate the technical signals observed in this session, a backtest can be constructed using the Bearish Engulfing pattern combined with RSI. The strategy would go short when a confirmed bearish engulfing candle closes below the prior bullish candle’s body, and RSI falls below the 30 level. Exit rules could include closing the position when RSI rebounds above 50 or when a bullish engulfing pattern forms. This would test the reliability of bearish signals in a volatile market like ONEUSDT.