Market Overview for Measurable Data Token/Tether (MDTUSDT)

Summary
• MDTUSDT tests key support at $0.01390–0.01395 during a 24-hour decline.
• Volume spikes overnight suggest increased bearish conviction following a bullish reversal attempt.
• RSI remains in oversold territory while price stays below 20-period MA, signaling potential consolidation.
• A large candle forming from 0.01403 to 0.01427 on 00:00 ET highlights a volatile breakout attempt.
• Bollinger Bands show compressed volatility early morning before a sharp price drop.

At 12:00 ET, MDTUSDT opened at $0.01403, hit a high of $0.0145, a low of $0.01387, and closed at $0.01403. Total volume reached 11.85 million, with a notional turnover of $165,626.21 over 24 hours.

Structure & Formations

MDTUSDT experienced a large bullish candle forming overnight at 00:00 ET, with a high of $0.0145 and a close of $0.01427. However, bearish pressure returned in the morning, dragging the price down to $0.01387 by 14:15 ET. The formation of a large bearish candle on 14:15 ET suggests short-term bearish momentum. Key support levels are forming around $0.01390–0.01395, where multiple candles have found some buying interest. A bearish engulfing pattern is visible between 08:45 and 09:00 ET, reinforcing the downward bias.

Moving Averages

On the 5-minute chart, the price has been trading below both the 20-period and 50-period moving averages for most of the day. A brief rebound in the early hours brought the price closer to the 20-period MA but failed to hold it. The 50-period MA is currently around $0.01415–0.0142, indicating bearish control. Daily MAs are not as relevant for this short timeframe, but the 200-period MA on a higher timeframe would be a critical level for long-term holders to monitor.

MACD & RSI

MACD crossed below the signal line in the early hours, reinforcing bearish momentum. RSI has been in oversold territory for much of the day, reaching as low as 25, suggesting potential for a short-term bounce. However, the bearish trend remains intact as long as price stays below the 50-period MA and RSI does not confirm a strong reversal above 50.

Bollinger Bands

Volatility was compressed in the early hours as the price traded within a narrow range between $0.01405 and $0.01409, indicating a period of consolidation. This was followed by a sharp move downward, breaking below the lower Bollinger Band by 09:30 ET and reaching as low as $0.01387. The expansion of the bands after the consolidation period is a sign of increased bearish participation.

Volume & Turnover

Volume spiked overnight during the bullish candle at 00:00 ET, confirming the breakout attempt. However, the bearish response in the morning brought another volume spike as the price dropped sharply to $0.01387. The large volume during the down move suggests increased bearish conviction. Notional turnover aligns with the price movement, with significant turnover occurring during the key down move from $0.01427 to $0.01387.

Fibonacci Retracements

Applying Fibonacci retracement to the recent 5-minute swing from $0.01387 to $0.01427, the 38.2% level is at $0.01408 and the 61.8% level is at $0.01418. The price appears to have found support at the 38.2% level before pulling back. On a daily timeframe, the broader move from $0.01387 to the higher highs in the previous days suggests that the 61.8% retracement is a critical level for potential bounces or retests.

MDTUSDT may find short-term support near $0.01390–0.01395 and could test this level again. A break below $0.01387 could open the door to further downside, but a rebound from this area could signal a short-term bounce. Investors should watch for confirmation of a bearish continuation or signs of a reversal. As always, be cautious with high-volatility assets and consider implementing stop-loss orders.