Market Overview for Harmony/Tether (ONEUSDT) on 2025-12-07

Summary
• Price formed a bearish engulfing pattern near 0.00392, suggesting short-term weakness.
• Volatility increased as price dropped from 0.00396 to 0.00373, breaking key support levels.
• Turnover surged during the selloff, signaling heightened fear or profit-taking.
• RSI entered oversold territory near 30, hinting at potential for a near-term bounce.
• Bollinger Bands expanded, reflecting rising uncertainty in the market.

Harmony/Tether (ONEUSDT) opened at 0.00392 on 2025-12-06 12:00 ET, reached a high of 0.00396, a low of 0.00369, and closed at 0.00373 on 2025-12-07 12:00 ET. Total volume for the 24-hour period was 105,862,535.3, with turnover reaching $39,662,083.

Structure & Formations

A bearish engulfing pattern emerged near 0.00392, following a rally to 0.00396, suggesting a reversal of short-term bullish momentum. A key support level at 0.00385 was later broken, confirming a shift toward bearish sentiment. A doji appeared near 0.00381, indicating indecision and potential for a near-term bounce.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages both sloped downward, reflecting sustained bearish pressure.

The daily chart showed the 50-period moving average below the 100- and 200-period lines, reinforcing the longer-term bearish setup.

MACD & RSI

The MACD line crossed below the signal line around 0.00390, signaling a bearish divergence. The RSI dipped into oversold territory near 30 at the close of the session, suggesting price could consolidate or experience a small rebound in the near term.

Bollinger Bands

Bollinger Bands expanded significantly as price dropped from 0.00396 to 0.00373, reflecting rising volatility. The selloff brought price near the lower band, which is typically seen as a potential support zone.

Volume & Turnover

Volume surged during the late ET hours as price broke below 0.00385, confirming the bearish breakout. Turnover spiked in tandem with the price drop, indicating increased selling pressure or profit-taking.

Fibonacci Retracements

A key 61.8% Fibonacci retracement level at 0.00383 was broken on the 5-minute chart, leading to a deeper pullback. On the daily chart, the 38.2% retracement level at 0.00389 appears as a potential short-term resistance if price bounces.

The 24-hour price action shows a clear bearish bias, driven by strong volume and technical breakdowns. While the RSI suggests a potential bounce from oversold levels, the broader trend remains bearish. Traders may watch 0.00385 as a key near-term support level, with a break below 0.00380 indicating further downside potential. Risk remains on the downside as volatility and uncertainty remain elevated.