Market Overview for Highstreet/Tether (HIGHUSDT) on 2025-11-05

Summary• Price traded between 0.229 and 0.252, with a 24-hour close of 0.253
• Volatility spiked during the 20:30–21:00 ET range, with a notable drop to 0.238
• Volume surged at 20:30 ET (485,164.178), but final 6 hours saw consolidation around 0.247

Highstreet/Tether (HIGHUSDT) opened at 0.250 on 2025-11-05 and closed at 0.253 by 12:00 ET the following day, with a high of 0.252 and a low of 0.229. Total volume for the 24-hour period reached 6,326,042.649, while notional turnover amounted to approximately 1,574,597.666, reflecting strong participation during key volatility periods.

Structure and formations suggest a consolidation phase following a strong bearish thrust earlier in the session. The price formed a key support level around 0.241–0.243 and a resistance cluster near 0.247–0.251. Notable bearish engulfing patterns were observed between 20:30 and 20:45 ET, as the pair dropped from 0.24 to 0.238. Later in the session, a bullish rebound emerged with a small bullish engulfing forming at 16:45–17:00 ET, signaling tentative buying interest.

Moving averages on the 15-minute chart show the 20-period line crossing above the 50-period line near 0.246, suggesting a short-term bullish bias. The 50-period MA remains below the 100 and 200-period lines, indicating continued medium-term bearish sentiment. The price has hovered just above the 20-period MA in the past 6 hours, suggesting a potential retest of key resistance levels ahead.

The 15-minute RSI moved into overbought territory around 0.251 during the final hour before closing, while the MACD histogram crossed into positive territory, suggesting renewed bullish momentum. However, the RSI has shown signs of divergence in the last two hours, which could indicate a potential reversal or consolidation. Bollinger Bands widened during the 20:30–21:00 ET range due to heightened volatility, and price has since remained near the upper band, suggesting continued upward pressure.

Fibonacci retracements for the key 0.229–0.252 move indicate that 0.241 (38.2%) and 0.248 (61.8%) levels acted as pivotal support and resistance. Price found support at both levels and tested resistance near 0.251, suggesting these levels could be important again in the near term. In the next 24 hours, a break above 0.251 could signal a new bullish phase, while a retest below 0.241 may reignite bearish pressure.

Backtest Hypothesis
To assess the viability of the strategy, a local backtest is recommended. By running a candlestick recognition algorithm on the provided 15-minute OHLCV data, we can identify all instances of Bullish and Bearish Engulfing patterns within the dataset. Once identified, we can simulate trades based on those patterns and analyze the resulting performance over time. This approach ensures accurate and actionable insights without relying on external data sources, and it aligns well with the observed price dynamics and volatility patterns in this 24-hour window.