Market Overview: Harmony/Tether (ONEUSDT) 24-Hour Summary

• ONEUSDT tested key support at 0.00601–0.00605, rebounded with bullish momentum into the early morning.
• Volatility surged with a 0.00620–0.00696 swing, indicating increasing buyer participation and price discovery.
• Overbought RSI levels and a bullish engulfing pattern near 0.00697 suggest strong short-term momentum.
• Volume increased during the break of key resistance levels, confirming the bullish breakout.
• Bollinger Bands expanded in the final hours, signaling a potential consolidation or continuation phase.

Harmony/Tether (ONEUSDT) opened at 0.00614 on 2025-10-12 at 12:00 ET − 1 and traded in a volatile range, reaching a high of 0.00698 and a low of 0.00594. The pair closed at 0.00703 at 12:00 ET, up by 11.23%. The 24-hour notional volume totaled 230.1 million USD, with a turnover of 165.6 million ONEUSDT.

Structure & Formations

ONEUSDT has exhibited a strong bullish bias over the past 24 hours, with a key support zone between 0.00601 and 0.00605 providing a crucial base for the price. This support was tested multiple times, with the price bouncing off it several times. A bullish engulfing pattern emerged near 0.00697, indicating strong buying pressure. Additionally, a bearish doji formed near the 0.00635 level in the early morning, hinting at a potential pause in the rally.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages have been closely aligned with the price trend, showing a clear upward bias. On the daily chart, the 50-period and 200-period moving averages have crossed above the 100-period line, reinforcing a positive medium-term outlook. The 50-day moving average currently sits at 0.00638, with the price above this level, suggesting a continuation of the bullish trend is likely.

MACD & RSI

The MACD has been positive for much of the day, with both the MACD line and the signal line trending upward. This indicates growing momentum in the bullish direction. The RSI has reached overbought territory near 70, suggesting the price may consolidate or experience a pullback in the short term. However, given the strong volume and price action, the overbought condition may be a sign of a strong continuation rather than a reversal.

Bollinger Bands

Bollinger Bands have expanded significantly in the last 6 hours, indicating heightened volatility and aggressive price movement. The price has been trading near the upper band for much of the day, reinforcing a strong bullish trend. A contraction in the bands earlier in the day suggested a potential breakout, which was confirmed with the price moving above the key resistance levels.

Volume & Turnover

Volume has spiked during key breakout moments, particularly around the 0.00697 and 0.00643 levels, confirming strong buying pressure. The notional turnover has remained high throughout the session, with no divergence between volume and price. This suggests strong conviction in the upward trend.

Fibonacci Retracements

Recent 15-minute swings have shown that the 38.2% and 61.8% Fibonacci retracement levels (at 0.00663 and 0.00638) have acted as significant support and resistance. On the daily chart, the 61.8% retracement level is currently aligned with the 50-day MA at 0.00638, which has held firm, reinforcing a bullish bias. A break above 0.00706 would target the next Fibonacci extension at 0.00713.

Backtest Hypothesis

A potential backtesting strategy for ONEUSDT could involve a breakout system targeting key Fibonacci levels and Bollinger Band expansions. A long entry could be triggered when the price closes above the 61.8% Fibonacci retracement level at 0.00638, with a stop-loss placed below the 38.2% level at 0.00663. A take-profit target could be set at 0.00713, aligning with the next Fibonacci extension and a potential continuation of the bullish trend. Given the strong volume and MACD momentum, this strategy may offer a favorable risk-reward ratio, though it would require strict risk management and confirmation from additional indicators like RSI and volume.