Summary
• Price tested 0.001534–0.001536 resistance cluster multiple times before consolidating below.
• Strong buying interest emerged post-0.001522 support, confirmed by volume and price recovery.
• RSI suggests moderate momentum with no clear overbought/oversold signals.
At 12:00 ET–1 on 2025-12-29, IQ/Tether (IQUSDT) opened at 0.001533 and traded between 0.001563 and 0.001515 over the next 24 hours, closing at 0.001546. Total volume was 67,129,386.0, with a notional turnover of 100,191.87.
Structure & Formations
Price action revealed multiple tests of the 0.001534–0.001536 resistance zone, with the 0.001526–0.001528 support level acting as a floor. A bullish engulfing pattern formed around 01:30 ET, followed by a strong rally. A doji near 0.001533 in the late afternoon suggested indecision.
Moving Averages
On the 5-minute chart, price traded above the 20-period moving average but fluctuated below the 50-period. Daily averages are not computed here but are likely supportive if the 50-day sits near 0.001530–0.001532.
MACD & RSI
MACD remained in positive territory during the rally from 0.001522 to 0.001558, confirming bullish momentum. RSI hovered between 50 and 60 for most of the session, suggesting balanced buying and selling pressure.
Bollinger Bands
Volatility increased sharply in the early hours, pushing price outside the upper band briefly. Later in the session, price traded within a tighter range, indicating reduced uncertainty.
Volume & Turnover
Volume spiked dramatically during the 01:30–02:30 ET window as price surged above 0.001542, confirming the breakout. Notional turnover aligned with the volume increase, suggesting strong conviction in the move higher.
Fibonacci Retracements
A key 38.2% Fibonacci retracement level at 0.001536 appeared to coincide with resistance. Price bounced off this level multiple times, suggesting a potential turning point for near-term direction.
Looking ahead, price may face renewed pressure near 0.001536–0.001538 if volume fails to confirm a break above that level. Investors should remain cautious for divergence between price and volume that may signal a reversal.
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