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Summary
• Price fell from 0.2874 to 0.2607 on 5-minute chart, forming bearish engulfing patterns near 0.2835 and 0.2788.
• RSI hit overbought above 70 in late ET afternoon before entering oversold below 30, reflecting strong momentum swings.
• Volatility spiked between 19:15 and 20:15 ET, with peak turnover of 886,301.9, while Bollinger Bands widened during this phase.
• 5-minute MA(20) and MA(50) both bearish, while daily 50/100/200 MA crossover not visible due to intraday noise.
• Price retested 0.2632–0.2668 as support cluster, with potential for a 61.8% Fib retracement at ~0.2712.
Maple Finance/Tether (SYRUPUSDT) opened at 0.2762 on 12:00 ET–1, peaked at 0.2874, and closed at 0.2667 on 12:00 ET today. The pair traded between 0.2601 and 0.2874, with total volume at 16,940,379.1 and turnover at 4,659,752.9.
Price Structure and Key Levels
Price action displayed multiple bearish engulfing candles during the afternoon ET session, notably at 0.2835 and 0.2788, signaling short-term capitulation. A potential support cluster formed between 0.2632 and 0.2668 as price bounced from this range in the early morning hours. Notably, a strong bearish reversal at 0.2788 may act as resistance in the near term.
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Price appears to be consolidating near the 0.2667 level ahead of a potential test of key support at 0.2601–0.2632. A break below this range may trigger further downside toward 0.258–0.2583. Investors should remain cautious for a reversal, but bearish momentum could persist unless volume and MACD show clear bullish confirmation.
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