Summary
• Price declined from 0.00425 to 0.00402 on strong bearish momentum.
• A bearish engulfing pattern formed at the high of the session.
• RSI and MACD confirmed oversold conditions near 0.00401–0.00402.
• Volatility expanded, with price testing 0.00400 as a potential support.
• Turnover spiked near 10:15–10:30 ET with a failed rebound attempt.
Market Overview
Harmony/Tether (ONEUSDT) opened at 0.00423 at 12:00 ET-1 and traded between 0.00427 and 0.00394 before closing at 0.00400 at 12:00 ET. Total volume reached 169.7 million ONE tokens, with a notional turnover of approximately $683,200.
Structure and Momentum
Price action displayed a bearish bias throughout the session, with a critical bearish engulfing pattern forming during the early hours.
A key support level appears to have developed around 0.00401–0.00402 after multiple retests and a rejection at 0.00409–0.00410. RSI hit oversold territory below 30 for a brief period, suggesting a possible near-term bottoming process.
Volatility and Bollinger Bands
Volatility expanded significantly as price moved from the upper to the lower band, with a notable contraction phase occurring between 09:00–10:15 ET. Price closed near the lower Bollinger Band, reinforcing the bearish tone.
Volume and Turnover Analysis
Volume surged during the 10:15–10:30 ET timeframe, coinciding with a failed rebound attempt. This divergence between price and volume suggests limited buying interest at higher levels. The largest single-candle turnover spike occurred at 10:15 ET, with a failed attempt to reclaim 0.00405.
Bullish and Bearish Scenarios
Bullish Fibonacci retracements at 0.00415 and 0.00421 could see limited short-term buying if the pair bounces from 0.00401. However, bearish pressure may continue if support at 0.00400 is breached, with a potential target at 0.00394–0.00395.
Market participants should watch for a potential test of the 0.00400 level and whether buying interest reemerges near that zone. A break below could accelerate the move toward 0.00394, but caution is warranted due to the high volatility and potential for rapid reversals in this range.
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