Market Overview for Highstreet/Tether (HIGHUSDT) – 2025-10-04

• Price action for HIGHUSDT showed a bearish bias in the 24-hour span with a high of $0.51 and low of $0.487.
• Strong volume was observed during the late ET session, while momentum indicators showed overbought/oversold extremes.
• Key resistance appears to be at $0.503, while support is forming near $0.491–$0.495.
• Bollinger Bands showed volatility expansion during the bullish move near $0.51.
• Notable divergence in price vs. turnover suggests possible accumulation or distribution.

The 24-hour session for Highstreet/Tether (HIGHUSDT) began at $0.494 on 2025-10-03 at 12:00 ET, reached a high of $0.51, and closed at $0.488 by 12:00 ET on 2025-10-04. Total volume amounted to 863,125.53, with a notional turnover of $427,241. The price exhibited a volatile bearish bias with several attempts to retest key levels during the session.

Structure & Formations

Price structure over the 15-minute chart revealed a series of bearish signals, including a bullish reversal at $0.497 followed by a larger bearish engulfing pattern at $0.503–$0.499. A long-legged doji at $0.497–$0.498 suggested indecision, while the price eventually broke below the prior support at $0.495–$0.491. A key support level appears to be consolidating at $0.491–$0.495, with potential for a retracement or further bearish momentum if broken.

Moving Averages

The 20- and 50-period moving averages on the 15-minute chart showed a bearish crossover in the early ET session, reinforcing the downward bias. On the daily chart, the 50/100/200 EMA lines are diverging, with the 200 EMA sitting below the 100 and 50 lines, indicating medium-term bearish momentum. If the price continues below the 200 EMA, it could signal a deeper correction.

MACD & RSI

MACD showed a bearish divergence with the price in the late ET and early LT sessions, especially after the peak at $0.51. RSI hit overbought levels (70+) during the rally to $0.51 but quickly fell into oversold territory (30–) as the price dropped below $0.495. This suggests a potential short-term bottom forming around $0.491–$0.493, but further confirmation is needed.

Bollinger Bands

Bollinger Bands expanded during the rally to $0.51, suggesting increased volatility and momentum. As the price corrected, the bands narrowed, indicating a period of consolidation. The price has now closed below the mid-band line, and if it remains below the lower band, it could trigger another short-term bearish move.

Volume & Turnover

Volume spiked during the rally to $0.51, confirming the move with a volume of over 234,614. However, the subsequent bearish move was supported by strong volume at $0.503–$0.499 and $0.495–$0.491, indicating distribution or strong selling pressure. Notional turnover mirrored the volume spikes, with no clear divergence in the last few hours of the session.

Fibonacci Retracements

Applying Fibonacci to the key swing high at $0.51 and low at $0.491, the 61.8% level sits at $0.498–$0.499, which appears to have acted as a strong resistance. The 38.2% retracement level at $0.495–$0.496 also held firm. A break below $0.491 would target the next Fibonacci level at $0.486–$0.487, potentially leading to a short-term bottom.

Backtest Hypothesis

The described backtesting strategy involves entering short positions on bearish engulfing patterns confirmed by volume spikes and RSI divergence. Given the current price structure and momentum indicators, this strategy aligns with the observed price action, particularly around $0.503–$0.499. Testing the strategy on recent 15-minute data would likely show profitable outcomes in a range of $0.493–$0.498, with stop-loss placement just above $0.503. The strategy may be further refined by incorporating a trailing stop or time-based exit at 1–2 hours after entry.