Market Overview for Measurable Data Token/Tether (MDTUSDT)

• Price dropped 5.8% in 24 hours, closing near the session low after a sharp sell-off in the early New York session.
• High volatility seen in the 15-minute chart, with a massive 174500 candle driving a 2.2% drop.
• Volume surged during the price breakdown, with over 1.6 million units traded on the 153000 candle.
• RSI(14) likely in oversold territory, suggesting potential for a short-term rebound but caution for a deeper decline.

The Measurable Data Token/Tether (MDTUSDT) pair opened at $0.01901 on 2025-11-02 at 12:00 ET and closed at $0.01805 at the same time on 2025-11-03. During the 24-hour period, it reached an intraday high of $0.01901 and a low of $0.01727. Total trading volume was 9,847,780.2 units, and notional turnover amounted to approximately $171,150, assuming average pricing.

Structure & Formations

Price action displayed a key bearish breakdown from the $0.0189–$0.0190 resistance level following the 174500 candle. This large bearish bar—nearly 2.2% down—may mark a short-term top and a psychological pivot. In the late New York and early London session, a sharp selloff drove price below $0.0185 and into the $0.0170s, where several key Fibonacci levels and trendline supports were tested. A potential bullish reversal pattern is forming near the 24-hour low, with the 150000 candle forming a small bullish bar but lacking significant volume confirmation.

Moving Averages

On the 15-minute chart, the 20-EMA and 50-EMA are both trending downward, with the price currently below both. This reinforces the short-term bearish bias. On the daily chart, the 50- and 100-day MA lines are likely converging, but the 200-day MA remains above the current price, suggesting that the broader trend remains neutral to bearish. A recovery above the 50-day MA would be a necessary condition for a reversal in sentiment.

MACD & RSI

The MACD histogram has turned negative and is trending downward, consistent with the bearish move. RSI(14) appears to be in oversold territory (<30), which may hint at a potential bounce, though it could also reflect deep bearish exhaustion. However, without a clear RSI divergence or a rejection near key support levels, the momentum may continue lower. The 174500 candle and subsequent bars showed a sharp RSI drop, reinforcing the strength of the sell-off.

Bollinger Bands

Volatility expanded significantly during the sharp decline, with price dropping below the lower Bollinger Band and maintaining a wide band width. This is a sign of heightened uncertainty or panic selling. The narrowing of bands in the early New York session had previously suggested a period of consolidation, but the breakdown below the lower band has invalidated that. Price remains in the lower quartile of the bands, indicating a high probability of continued downward pressure unless a strong reversal candle emerges.

Volume & Turnover

Volume spiked during the sell-off, with the 153000 and 161500 candles showing high-volume bearish bars. This confirms the bearish breakout and suggests strong conviction in the move lower. However, the late session volume has declined, indicating waning short-term momentum. Notional turnover has remained relatively stable despite the price drop, suggesting that while the price is falling, the market is not yet panicking.

Fibonacci Retracements

Applying Fibonacci retracements to the 0.01901–0.01727 swing, key levels of interest include 0.01816 (23.6%) and 0.01768 (38.2%). Price has held just above the 38.2% level, which could become a critical support. A break below this level could target the 61.8% retracement at 0.01737. These levels may offer key short-term resistance or support, depending on the immediate follow-through in the next 24 hours.

Backtest Hypothesis

In the context of this analysis, the RSI(14) indicator appears to be in a position where it could support a backtesting strategy focused on oversold conditions. If we were to apply a strategy that enters long on RSI(14) < 30 and holds for 5 days, this market would currently be near a potential entry trigger. However, due to the recent large bearish move, the signal may be misleading, and divergence between RSI and price may be a concern. If RSI fails to rebound while price remains under pressure, this could indicate a deeper downtrend rather than a short-term bounce. The next few 15-minute candles could confirm whether this is a temporary dip or a more extended bearish phase.