Summary
• Price drifted lower after a mid-day high, failing to reclaim key resistance levels.
• Strong volume surges were seen during both bullish and bearish moves, with no clear momentum bias.
• RSI and MACD suggest exhausted bullish momentum, with bearish divergence observed near the session high.
• Volatility expanded significantly after 14:00 ET, pushing price near the lower Bollinger Band.
Key Price and Volume Metrics
At 12:00 ET-1, MOBOX/Tether (MBOXUSDT) opened at 0.0308 and reached a high of 0.0312 before settling at 0.0308 at 12:00 ET. The pair saw a 24-hour low of 0.0297. Total traded volume amounted to 5,598,918.6, with notional turnover reaching $169,813.7.
Structure and Momentum
Price initially tested resistance near 0.0310–0.0312 before encountering selling pressure, resulting in a consolidation phase and a pullback. A bearish engulfing pattern appeared near 0.0312, while a doji formed at the session high, suggesting indecision. RSI dipped into oversold territory below 30 after 14:00 ET, but failed to trigger a meaningful rebound, indicating weak conviction. MACD remained in negative territory with a bearish crossover, signaling potential exhaustion in the short-term rally.
Volatility and Volume
Bollinger Bands widened sharply after 13:30 ET, reflecting heightened volatility as price fell below the 20-period lower band by the end of the session. Volume spiked during the bearish phase, particularly after 13:30 ET, but failed to confirm a strong downward move. Turnover was disproportionately lower during the sharp decline, suggesting potential liquidity thinning or retail-driven selling.
Fibonacci and Key Levels
Price dropped to the 61.8% Fibonacci retracement level (0.0299–0.0300) after breaking the prior high from 0.0312. This suggests a potential short-term floor for the pair. On the 5-minute chart, key support is now at 0.0297–0.0299, with a critical retest expected if buyers re-enter the market.
Looking ahead, a retest of 0.0297–0.0300 is likely in the next 24 hours, with potential for a rebound if buyers defend this range. However, given the bearish momentum and low liquidity during the decline, further downside to 0.0295–0.0294 cannot be ruled out, particularly if selling pressure continues. Investors should remain cautious of potential order imbalances and thin liquidity during overnight trading.
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