Market Overview: Moonriver/Tether (MOVRUSDT)

• MOVRUSDT traded in a 24-hour range of $3.197–$3.337, closing near key support.
• Volume surged above 10,000 at 08:30–09:45 ET, coinciding with a bullish reversal.
• RSI remained neutral, while Bollinger Bands expanded, indicating rising volatility.
• A Doji near $3.337 at 02:15 ET signaled potential indecision.
• Price may retest $3.25–$3.27 support levels over the next 24 hours.

At 12:00 ET–1 (2025-10-30 12:00 ET), MOVRUSDT opened at $3.274, reached a high of $3.337, and closed at $3.299 by 12:00 ET today. Total 24-hour volume amounted to 97,980.73 MOVR, with $320,574 in notional turnover. Price action displayed a bearish bias early before a late-day bullish reversal, hinting at a possible consolidation phase.

Support and resistance levels appear to be forming around $3.25–$3.27 (key support) and $3.32–$3.34 (resistance). A notable bullish reversal pattern—namely a Morning Star—emerged around $3.258 at 18:00 ET, suggesting a potential short-covering rally. A Doji pattern at $3.337 (02:15 ET) and a Bearish Engulfing at $3.336 (02:45 ET) point to a tug-of-war between buyers and sellers.

On the 15-minute chart, the 20-period and 50-period moving averages crossed below price after 18:00 ET, supporting a recent bearish shift. RSI hovered around the 50–60 range, indicating a neutral momentum phase. MACD remained in positive territory but with decreasing divergence, signaling a possible slowdown in upward momentum. Bollinger Bands expanded significantly from 18:00–20:00 ET, confirming increased volatility.

Volume surged to 5,289.605 MOVR at 08:30–09:45 ET, coinciding with a bullish breakout attempt. The price then pulled back to close near $3.299. A divergence between higher highs and lower volume at 05:45 ET suggests weakening bullish conviction. Notional turnover spiked in line with volume, indicating active participation in both directions.

Applying Fibonacci retracements to the 24-hour swing from $3.197 to $3.337, key levels at 38.2% ($3.297) and 61.8% ($3.261) align with current price behavior. These levels may act as short-term support and resistance, with a potential pivot point at $3.299.

Backtest Hypothesis: Given the appearance of Doji and reversal patterns observed today, a potential backtesting strategy could involve entering on the next open or close after a Doji Star forms, with a target of 5% take-profit or a 3% stop-loss. Given the recent volatility and volume spikes, this rule could be tested over a 10-day holding period to capture both short-term corrections and potential breakouts. Testing from 2022–2025 would allow for multiple cycles under varying market regimes.