Market Overview for Huma Finance/Tether (HUMAUSDT)

• Price action declined 24 hours with a low of $0.0254 and closed near the lows.
• Volatility dipped after a sharp midday selloff, now consolidating near support.
• Turnover surged during the sell-off but has since retreated, indicating fading momentum.
• No definitive reversal patterns formed, though a bearish engulfing pattern was visible near the intraday high.
• RSI and MACD indicators not available, but price and volume suggest a potential oversold condition.

The 24-hour session for Huma Finance/Tether (HUMAUSDT) saw a bearish bias, with the pair opening at $0.0259 on October 23 and closing at $0.0254 as of 12:00 ET on October 24. The price reached a high of $0.0268 and a low of $0.0254 during the period. Total trading volume across the 24-hour window was approximately 85.7 million HUMA, with notional turnover reaching around $2,240,000 USD. The session witnessed a sharp midday decline, with a significant sell-off occurring around 19:30–20:00 ET, followed by consolidation at the lower end of the range.

On the 15-minute timeframe, key support levels appear to be forming near $0.0256–0.0258, with a bearish engulfing pattern observed on the candle around 20:15 ET as the price broke below key intraday highs. Resistance was evident at $0.0261–0.0264, where the asset failed multiple attempts to retest. Notable candlestick formations include a long bearish shadow during the early morning hours and a short-bodied bearish candle at the end of the session, both indicating continued bearish control.

Volatility, as measured by the Bollinger Bands, expanded significantly during the midday selloff but has since contracted, indicating a potential pause in the trend. While the 20-period moving average briefly acted as resistance during the early part of the session, the 50-period line has now become a key support level. Fibonacci retracements suggest that the price may find temporary support at the 61.8% level of the previous upward swing, around $0.0258–0.0259, before facing renewed downward pressure toward the 78.6% level near $0.0254.

The Backtest Hypothesis for this pair is constrained due to the unavailability of RSI-14 and MACD data. These tools are essential for assessing momentum and identifying overbought/oversold conditions, both of which are critical for a reliable backtesting strategy. Without these indicators, the model lacks key signals for timing entries and exits. To proceed with the backtest, it is crucial to confirm whether the symbol is listed under an alternate format on a major exchange (e.g., Binance, KuCoin), such as “HUM/USDT” or “HUMUSDT.” If this is the case, or if a different data vendor is preferred, the data can be retrieved and the backtesting strategy implemented. Alternatively, if HUMAUSDT is not strictly required, a close proxy or a similar asset can be selected for testing. The success of the strategy depends on accurate and timely data inputs.