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Summary
• Price formed a bullish engulfing pattern near 0.001543 after a mid-session consolidation.
• RSI and MACD signaled fading momentum during the afternoon before a late rally.
• Volume surged in the final 4 hours, confirming strength in the 0.001543–0.001548 range.
• Bollinger Bands contracted in the morning before a sharp price rebound.
At 12:00 ET–1, IQ/Tether (IQUSDT) opened at 0.001543, reaching a high of 0.001551 and a low of 0.001536 before closing at 0.001549 at 12:00 ET. Total volume reached 9.32 million, with notional turnover of 14,400.49.
Structure & Formations
A bullish engulfing pattern emerged in the 5-minute chart around 0.001543, confirming strength after a bearish consolidation phase. Key support was tested at 0.001539 and held, while resistance appeared at 0.001548, with a failed breakout in the early morning. A doji formed near 0.001538 at 21:15 ET, signaling indecision before a late rally.
Moving Averages and Momentum

Volatility and Bollinger Bands
Bollinger Bands contracted during the morning hours, indicating low volatility, followed by a sharp price expansion after 04:00 ET as the price moved above the upper band. The closing candle at 0.001549 was near the upper band, suggesting heightened bullish pressure.
Volume and Turnover
Volume surged to 3.75 million in the 4:45 AM to 5:45 AM window, coinciding with a breakout to 0.001551. Turnover spiked from $989 to $3,186 during this period, confirming strength in the rally. A divergence between price and turnover was noted during the mid-session dip, where low turnover supported the bearish pullback.
Fibonacci Retracements
A key 61.8% Fibonacci retracement level at 0.001545 was tested twice and held, acting as a dynamic support. A 38.2% retracement at 0.001543 also showed strong buying interest, especially in the late hours of the session.
In the next 24 hours,
may test the 0.001551–0.001555 range, with a risk of a pullback to 0.001538 if volume wanes. Investors should monitor volume divergence and RSI for signs of exhaustion.Decoding market patterns and unlocking profitable trading strategies in the crypto space

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