Market Overview for Movement/Tether (MOVEUSDT) on 2025-09-24

• MOVEUSDT traded in a 24-hour range of $0.1132–$0.1195, closing near its intraday low, suggesting bearish pressure.
• A key support level emerged near $0.1165–0.117, reinforced by multiple candle closures and consolidating volume.
• Momentum indicators showed divergence, with RSI dipping into oversold territory near 30, suggesting potential for a rebound.
• Volatility expanded during the overnight session as price broke below the 20-period moving average.

Movement/Tether (MOVEUSDT) opened at $0.1173 on 2025-09-23 at 12:00 ET and closed at $0.1181 on 2025-09-24 at the same time, reaching a high of $0.1195 and a low of $0.1132 during the 24-hour window. Total volume amounted to 2,676,032.2 with a notional turnover of approximately $316,867.90.

Structure & Formations

Price action on the 15-minute chart revealed a clear bearish shift during the overnight hours, with the price breaking below a key support cluster around $0.1165–$0.117 after forming several bearish engulfing and dark cloud cover patterns. A notable bearish reversal occurred at 04:15 ET when price plunged from $0.1149 to $0.1132, marking one of the lowest points of the session. A potential support level appears to be forming near $0.1165, where the price found repeated buying interest during the morning session.

Moving Averages and Bollinger Bands

On the 15-minute chart, the 20-period moving average currently resides around $0.1177, while the 50-period average is near $0.1175. Price is below both, indicating short-term bearish momentum. The Bollinger Bands show a modest expansion, with the price hovering near the lower band at $0.1165–$0.1170, suggesting that the downward move may be nearing a pause.

MACD & RSI

The MACD has turned negative, with the histogram contracting and crossing below the signal line, confirming bearish momentum. RSI reached a low of ~30 during the overnight sell-off, indicating oversold conditions. A rebound is possible, but confirmation of bullish momentum is needed above $0.1185 to retest the 20-period MA.

Volume & Turnover

Volume surged during the 04:15–06:00 ET window, coinciding with the price breaking through key support levels. However, price action failed to respond strongly to the high-volume sell-off, suggesting potential exhaustion in the short-term bearish move. Turnover diverged slightly with price during the midday session, indicating that while volume remained elevated, price consolidation began around $0.1175–$0.118, hinting at a possible short-term balance point.

Fibonacci Retracements

Applying Fibonacci retracement levels to the key bearish move from $0.1195 to $0.1132, the 61.8% level (~$0.1157) acted as a temporary bounce point before the price continued to consolidate around $0.1175. The 38.2% level (~$0.1167) appears to be a short-term pivot point, where further bullish or bearish bias may emerge depending on volume and order flow.

Backtest Hypothesis

A potential backtest strategy could involve entering long positions when the price closes above the 20-period moving average ($0.1177) on the 15-minute chart, with a stop-loss placed below the 61.8% Fibonacci level at $0.1157 and a take-profit target at the 50-period moving average (~$0.1175). The MACD crossover and RSI above 30 would serve as confirmation filters. This strategy would aim to capture potential short-term rebounds in a consolidating range.