Summary
•
formed a bullish engulfing pattern near 0.01340–0.01361 support.
• Price closed above 50-period MA on 5-min chart, suggesting short-term momentum.
• Volatility expanded after 21:00 ET, with high volume at 0.01385–0.01392 resistance.
• RSI showed overbought conditions briefly near 75, but closed with moderate momentum.
• Bollinger Band contraction occurred at 0.01375–0.01377 before a breakout to the upside.
24-Hour Snapshot
Measurable Data Token/Tether (MDTUSDT) opened at 0.01361, reached a high of 0.01392, and a low of 0.01343, closing at 0.01371 at 12:00 ET. The 24-hour volume totaled 6,237,915.5, with a notional turnover of approximately $85,481.
Structure & Formations
The price found strong support around 0.01340–0.01361, where a bullish engulfing pattern emerged after a downward correction. A potential key resistance appears at 0.01375–0.01377, where the price consolidated before breaking to the upside. A bearish divergence in RSI and volume occurred near 0.01385, but was quickly resolved.
Moving Averages
On the 5-minute chart, the 20-period and 50-period moving averages crossed to the upside around 21:00 ET, aligning with higher volume and price action. The daily chart showed the 50-period MA at ~0.01368, while the 200-period MA remained below that level, suggesting a possible short-term retest of this level.
Momentum Indicators
RSI briefly entered overbought territory near 75 around 02:00 ET, but closed with moderate momentum near 54. MACD remained above its signal line, indicating positive momentum for the last 6 hours.
Volatility & Bollinger Bands
Bollinger Bands showed a contraction between 20:00–21:00 ET, followed by a sharp expansion to the upside.
Price closed near the upper band, suggesting increased bullish sentiment.
Volume & Turnover
Trading activity surged between 21:00–22:00 ET, particularly around 0.01375–0.01385, with a volume spike of 748,419.7 and a corresponding increase in turnover. Divergence was observed between price and turnover during the 0.01385–0.01389 phase, indicating possible short-term profit-taking.
Key Resistance and Support
Immediate support is seen at 0.01367–0.01371, where the price has bounced multiple times. Key resistance now appears at 0.01385–0.01389. Fibonacci retracements from the recent low at 0.01343 and high at 0.01392 show critical levels at 0.01367 (38.2%) and 0.01379 (61.8%).
MDTUSDT appears to be in a consolidation phase after a volatile 24-hour period, with potential for a breakout above 0.01385. However, traders should remain cautious of a pullback to
0.01367 as a possible reversal trigger. Risk remains balanced, but increased volume and tight Bollinger Bands suggest higher volatility may continue in the next 24 hours.
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