Summary
• Price dropped from $0.1907 to $0.1897 before a late-day rebound to close near $0.1914.
• Strong volume expansion occurred between 00:00 and 02:30 ET, coinciding with the recovery.
• RSI reached oversold territory, then reversed upward, suggesting potential short-term reversal.
• Bollinger Bands tightened pre-24-hour low, then expanded as price rallied.
• No major 5-minute reversal patterns, but bullish momentum builds after 2:30 AM.
Jupiter/Tether (JUPUSDT) opened at $0.1907, hit a 24-hour low of $0.1881, and closed at $0.1914 by 12:00 ET. Total volume reached 3.83 million contracts, with $75.6 million in notional turnover.
Structure & Formations
Price formed a series of descending triangles and bullish flags in the early part of the session, with a key support level identified at $0.1892 and a resistance at $0.1915. A bullish breakout above this level appears to have gained short-term traction after 2:30 AM, but a confirmation above $0.1915 is needed for a stronger signal.
Moving Averages
On the 5-minute chart, the 20-period and 50-period EMAs show a recent cross-over to the bullish side, aligning with the late-session rally. On the daily chart, the 50-period EMA stands as a key line in the sand at $0.1903, where price tested during the session.
MACD & RSI
The MACD turned positive after 1:30 AM and began forming bullish divergences with the price action. RSI hit an oversold level near 28 before bouncing, reinforcing the case for a short-term rally. However, RSI has yet to re-enter overbought territory, indicating the move could still have legs.
Bollinger Bands
Volatility was compressed into a tight range before 12:30 AM, suggesting low conviction, but bands expanded during the rebound as uncertainty returned. Price remains within the upper band, indicating elevated bullish expectations.
Volume & Turnover
Volume surged sharply from midnight to 2:30 AM, with the largest 5-minute volume spike at 1:30 AM (68.5k contracts). Turnover increased in parallel, reinforcing the bullish breakout. A divergence between price and volume has not yet emerged, which is a positive sign for sustainability.
Fibonacci Retracements
Fib levels drawn from the 24-hour low at $0.1881 and the high at $0.1914 show a 61.8% retracement at $0.1903, which aligned with the 50-period daily EMA. Price tested this level before pushing higher, indicating strength in the immediate term.
In the next 24 hours,
may test the $0.1915 psychological level, with a break above it likely to extend the rally. However, traders should remain cautious of potential retracements if the 20-period EMA fails to hold above $0.1905.
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