Market Overview for Morpho/Tether (MORPHOUSDT) on 2025-11-03

Summary
• Price declines from $2.017 to $1.848, marking a significant bearish trend in the last 24 hours.
• Volume spikes over $460k at the session low, suggesting strong selling pressure.
• RSI near oversold levels, hinting at potential for a short-term rebound.

Morpho/Tether (MORPHOUSDT) opened at $2.002 on 2025-11-02 at 12:00 ET, reached a high of $2.017, and closed at $1.848 by 12:00 ET on 2025-11-03. The pair traded within a range of $2.017 to $1.795, with a total volume of 4.78M and notional turnover of $9.42M.

Price action on the 15-minute chart showed a sharp bearish breakdown after the 23:30 ET hour on 2025-11-02, with a long bearish candle confirming the move below key support levels. A series of engulfing patterns followed, leading to a 6.9% drop by the 15:30 ET hour. The 50-period moving average on the 15-minute chart acted as a dynamic resistance during the early part of the session but later became a trailing sell signal.

Volatility expanded significantly in the last 6 hours, with Bollinger Bands widening and price settling near the lower band at $1.848. The 20-period moving average crossed below the 50-period line in the final hours, signaling bearish momentum. RSI fell below 30 on the daily timeframe, entering oversold territory, while the MACD line crossed below the signal line, reinforcing the bearish bias.

Fibonacci retracement levels show key support at 61.8% at $1.90 and 38.2% at $1.96 from the recent swing high. The price has broken below these levels, indicating bearish exhaustion could persist in the near term. However, a rebound from the $1.848 level could test the 38.2% retracement as a potential short-term floor.

The Backtest Hypothesis leverages a swing-trading framework, similar to the RSI oversold approach, for capturing short-term rebounds. A 10-day hold with 10% take-profit and 8% stop-loss thresholds aligns with the bearish exhaustion observed in MORPHOUSDT’s 24-hour move. While the pair has not yet hit 30 RSI on the daily chart, the momentum and volume divergence suggest that a test of the $1.84–$1.86 level could trigger a bounce for those looking to test a limited-risk trade.