Market Overview for Harmony/Tether (ONEUSDT)

Summary
• Price broke above a key 5-min resistance level of $0.00361, forming a bullish engulfing pattern near 03:15 ET.
• Momentum picked up post-03:15 ET with RSI climbing into overbought territory and MACD showing positive divergence.
• Volatility expanded significantly as Bollinger Bands widened after a prior contraction.
• Notional turnover spiked sharply near $0.00367–$0.00371, aligning with a 38.2% Fibonacci retracement from the 5-min swing high.
• Volume was uneven, with a large spike at 03:15 ET followed by a gradual decline in trading intensity.

Harmony/Tether (ONEUSDT) opened at $0.00356 on 2025-12-24 12:00 ET and closed at $0.00364 on 2025-12-25 12:00 ET, reaching a high of $0.00374 and a low of $0.00355. The 24-hour volume was approximately 69,186,089.89 with a notional turnover of roughly $249,281.26.

Structure & Formations

The price of ONEUSDT displayed a strong bullish engulfing pattern at $0.00361–$0.00362 on 03:15 ET, suggesting a potential breakout. The asset also showed a 5-min bearish divergence later in the day, signaling possible consolidation. Support levels formed at $0.00362 and $0.00359 appear to have held on multiple retests, indicating their significance.

Moving Averages

On the 5-min chart, price spent much of the day above the 50-period moving average and closed above both the 20- and 50-period lines, suggesting bullish momentum. On the daily chart, the 50-period MA appears to be acting as a dynamic support, with the 200-period line currently offering resistance just above $0.00365.

Momentum Indicators

The RSI reached overbought territory (above 70) around 05:00 ET and has since consolidated into neutral to mildly overbought levels, suggesting some short-term profit-taking. The MACD showed a positive divergence during the early hours of the trade, reinforcing the bullish breakout. However, a potential bearish signal may emerge if the RSI fails to re-enter neutral territory.

Bollinger Bands

Volatility increased significantly in the early morning with Bollinger Bands expanding, reflecting heightened trading activity. Price tested the upper band multiple times during the surge toward $0.00371 and has since retracted slightly, staying within the bands but showing a bias toward the upper half. This suggests elevated market interest and potential for further directional movement.

Volume and Turnover

Volume spiked sharply during the 03:15 ET candle, reaching over 11 million units, which coincided with the breakout and a large increase in notional turnover. This confirms the strength of the move. However, volume has since declined, with recent candles showing lower participation, raising questions about the sustainability of the rally.

Fibonacci Retracements

A 5-min swing high of $0.00374 (12:25 ET) and low of $0.0036 (00:30 ET) provided key Fibonacci levels, with the $0.00367–$0.00371 range aligning with the 38.2% retracement. Price consolidated near this level for several hours before pulling back, suggesting potential short-term resistance or a key area for future buyers to test.

Looking ahead, ONEUSDT may test the 50-period MA at around $0.00365 as a near-term target, with a potential retest of the breakout level at $0.00361–$0.00362 if the move consolidates. Traders should remain cautious of a pullback into the $0.00360–$0.00359 range, which could signal a deeper correction. Risk remains moderate with potential for both consolidation and further upside, depending on volume and order flow.