Market Overview for Movement/Tether (MOVEUSDT)

• Movement/Tether (MOVEUSDT) dropped 2.2% over 24 hours, closing at 0.1288, amid declining volume in the latter half of the session.
• A bearish reversal pattern formed near 0.1295 resistance, with rejection confirmed by a large bearish candle on the 15-minute chart.
• Volatility expanded during the Asian session, but price failed to hold above the 0.1292 level, suggesting short-term weakness.
• MACD signaled bearish momentum, while RSI approached oversold territory, hinting at potential for a short-term bounce.
• Bollinger Bands widened during the overnight hours, but price remained under the mid-band, indicating ongoing pressure.

At 12:00 ET − 1 on September 20, 2025, Movement/Tether (MOVEUSDT) opened at 0.1287. Over the 24-hour period, it reached a high of 0.1313 and a low of 0.1252 before closing at 0.1288 at 12:00 ET on September 21. Total volume was 9,278,913.2 units, with notional turnover amounting to $1,188,233.8.

The price action over the past 24 hours displayed a bearish bias, with a key breakout attempt to the upside failing at 0.1313. A deep pullback followed, with price retreating to 0.1252 before stabilizing around 0.1288. The 15-minute chart revealed a large bearish candle at 0.1295–0.1284, forming a potential bearish engulfing pattern. Support levels at 0.1278, 0.1269, and 0.1259 appear strong, while resistance remains at 0.1292 and 0.1295.

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The 20-period and 50-period moving averages on the 15-minute chart were both below price, signaling bearish momentum. MACD crossed below zero with bearish divergence, while RSI approached oversold levels at 32–35. Bollinger Bands saw a sharp expansion during the Asian session, with price remaining below the mid-band. Volume spiked during the overnight hours, but failed to confirm a breakout, leading to a bearish continuation.

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The Fibonacci retracement levels from the 0.1313 high to the 0.1252 low show that the current price is testing the 50% level at 0.1283. A break below this would target the 61.8% level at 0.1272, where strong support is expected. On the daily chart, the 50-period moving average remains above the 200-period line, but price is still below both, indicating a continuation of the bearish trend.

Backtest Hypothesis

A potential backtesting strategy could involve entering short positions on the 15-minute chart when price breaks below a key support level (e.g., 0.1283) with increasing volume, while placing a stop-loss above the nearest resistance (e.g., 0.1292). A take-profit target could be set at the 61.8% Fibonacci level at 0.1272. This setup would aim to capitalize on the current bearish momentum and potential continuation of the downtrend. Given the recent bearish reversal and divergence in the MACD, this strategy appears well-aligned with the current technical environment.

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