Market Overview for Measurable Data Token/Tether (MDTUSDT) – 2025-11-02

• Price opened at $0.02 and dropped to $0.0189 before rebounding slightly.
• A bearish divergence in momentum suggests potential for further downside.
• Volatility remains high, with price fluctuating between $0.0189 and $0.0194.
• Turnover surged during sharp declines, indicating increased bearish participation.
• Key support appears to be forming near $0.0190, with resistance at $0.0195.

The Measurable Data Token/Tether (MDTUSDT) pair opened at $0.02 at 12:00 ET on 2025-11-01, dropping to a low of $0.0189 before closing at $0.01901 at 12:00 ET on 2025-11-02. The 24-hour volume was approximately 12.4 million MDT, and the total turnover reached around $2,360,000. The price action displayed a bearish bias, with a notable breakdown from earlier resistance levels and a lack of follow-through buying on the rebounds.

Structure and formations suggest key support forming around $0.0190, with several candlesticks forming near that level. A bearish engulfing pattern occurred during the drop from $0.0195 to $0.01904, signaling a potential continuation of the downward move. Resistance appears at $0.0195, with the 15-minute chart showing some consolidation near this level. On the daily chart, the price appears to be testing a 50-day moving average from above, suggesting bearish pressure may continue if this level breaks.

On the 15-minute MACD, bearish momentum is increasing, with the histogram expanding downward and the signal line crossing below the MACD line. RSI is currently in the mid-30s, indicating moderate bearish momentum but not extreme oversold conditions. This suggests there could be more downside before a potential bounce. On the Bollinger Bands, price has been bouncing off the lower band, showing low volatility periods followed by sharp moves lower. Recent expansions in the band width indicate increased uncertainty in the market.

Volume and turnover are closely aligned, with spikes in turnover coinciding with sharp declines. This suggests increased bearish participation and a lack of buying interest on the rebounds. Turnover divergences have not been significant, but the volume profile shows a bearish skew, with larger bars forming during the downward legs. On the Fibonacci retracement of the recent 15-minute high-low swing, the price has tested the 61.8% level at $0.0191 and appears to be heading toward the 78.6% level near $0.0188.

The bearish momentum and increasing divergence in the MACD suggest a continuation of the downward trend is likely in the short term. However, given the moderate RSI reading and recent support testing, a bounce from the $0.0190–0.0191 area cannot be ruled out. Investors should watch for a break below the 61.8% Fibonacci level and confirmation from the daily chart indicators before taking further bearish positions.

Backtest Hypothesis
Given the current bearish bias and the presence of bearish candlestick patterns, a backtest of a short-selling strategy based on the appearance of bearish engulfing patterns could be a logical next step. The strategy would involve entering a short position when a bearish engulfing candle forms and the price closes below a key Fibonacci retracement level. Stops would be placed above the engulfing candle’s high, with targets aligned to the next Fibonacci level and/or support. If the NEAR Protocol (NEARUSD) data request had not timed out, the same pattern recognition could be applied to that asset to compare effectiveness across different pairs. A manual implementation of the strategy for MDTUSDT would provide a baseline for performance, especially in the current low volatility environment. This could serve as a robust, data-driven approach for identifying high-probability entries.