Market Overview for Movement/Tether (MOVEUSDT) as of 2025-09-23

• Movement/Tether (MOVEUSDT) closed slightly lower at 0.1164, down from a morning high of 0.1174.
• Price traded in a range-bound pattern between 0.1122 and 0.1177, with a key support at 0.1140 and resistance at 0.1168.
• High volatility emerged in the 8:45–9:00 AM ET session, with a 15-minute candle surging 0.1154 to 0.1174.
• Trading volume spiked during this period, peaking at 1,372,493.6, but turnover failed to confirm the move.
• RSI showed overbought conditions near 75, while MACD remained bullish but with a narrowing histogram.

At 12:00 ET–1, Movement/Tether (MOVEUSDT) opened at 0.1164, hit a 24-hour high of 0.1177, and a low of 0.1122, before closing at 0.1164. Total volume over the period was 13,464,960.3, with a notional turnover of approximately $1,561,763.24. The pair displayed a mixed price action, with a morning rally followed by a sharp retracement into the evening.

Structure & Formations

The 24-hour price chart for MOVEUSDT formed a consolidation pattern between 0.1122 and 0.1177, with notable resistance at 0.1168 and key support at 0.1140. A bullish engulfing pattern formed at 0.1158–0.1163 on the 8:15–8:30 AM candle, followed by a large 15-minute bearish reversal at 0.1168–0.1161 later in the day. A doji appeared at 0.1164–0.1164, indicating indecision and potential exhaustion in the upward move.

Moving Averages

On the 15-minute chart, the 20-EMA and 50-EMA crossed over during the morning surge, forming a bullish crossover. However, the 50-EMA began to diverge from the 20-EMA after the 9:00 AM ET peak. On the daily chart, the price closed above the 50-EMA but remains below the 100- and 200-EMAs, suggesting medium-term bearish bias despite short-term bullish momentum.

MACD & RSI

The MACD (12, 26, 9) showed a positive crossover in the early morning, confirming the bullish move, but the histogram began to contract after the 9:00 AM peak. RSI reached 75 during the afternoon, signaling overbought territory, though it did not exceed 80. The lack of a full RSI divergence and the contraction in MACD suggest the rally may lack follow-through.

Bollinger Bands

Price action remained within the Bollinger Bands for most of the session, touching the upper band during the 8:45–9:00 AM rally. The bands widened moderately during this period, indicating rising volatility. Price has since retracted to the middle band, where it may find temporary equilibrium.

Volume & Turnover

Volume spiked significantly during the 8:45–9:00 AM rally, reaching a 24-hour high of 1,372,493.6, but turnover did not rise proportionally. This price-volume divergence raises questions about the strength of the bullish move. Later in the day, volume remained above average but failed to confirm further directional bias.

Fibonacci Retracements

Fibonacci levels drawn from the 0.1122–0.1177 swing identified a 61.8% retracement at 0.1151 and a 38.2% level at 0.1149. Price tested both levels in the afternoon but failed to hold above them. On a daily timeframe, a 61.8% retracement of the longer-term downtrend aligns with 0.1165, which the price briefly touched but did not sustain.

Backtest Hypothesis

A backtesting strategy that triggers long entries on the 20-EMA/50-EMA crossover and short entries on the 50-EMA/20-EMA cross, with stop-loss placed at the most recent 15-minute low, would have captured the morning rally but incurred losses during the afternoon pullback. Adding a filter to only act on the crossover when RSI < 60 and MACD is rising may improve signal quality and reduce false entries in choppy markets.