Market Overview for MovieBloc/Tether (MBLUSDT) – 24-Hour Summary (2025-11-05)

Summary
• Price declined sharply during the early ET hours, losing 2.8% from the prior day’s close.
• Volatility and volume surged after 19:00 ET, reaching a 24-hour high in turnover.
• A potential bearish breakout below the 0.001171 support is now in play.

MovieBloc/Tether (MBLUSDT) opened at 0.001197 on 2025-11-04 at 12:00 ET, peaked at 0.001208, and dropped to a low of 0.001138 before closing at 0.001176 at 12:00 ET on 2025-11-05. The 24-hour notional volume reached $3.85 billion, with a total turnover of $4.42 billion.

Structure & Formations

Price action over the last 24 hours shows a bearish continuation with a breakdown from the 0.001185–0.001208 consolidation range. A key support level at 0.001171 was tested and briefly held, forming a potential short-term pivot. A bearish engulfing pattern emerged around 20:30 ET, confirming the downward shift in sentiment.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both turned downward, reinforcing bearish momentum. On the daily chart, the 50-period MA is above the 100-period MA, suggesting medium-term bearish bias.

MACD & RSI

The MACD crossed below the signal line after 18:30 ET, confirming a bearish crossover. RSI dropped from 54 to 43, entering oversold territory. However, RSI has not shown a strong rebound, indicating a lack of buyer interest.

Bollinger Bands

Bollinger Bands were wide open, reflecting high volatility during the 19:00–22:00 ET window. Price remained below the lower band, signaling bearish exhaustion. A contraction in band width is expected if the trend reverses.

Volume & Turnover

Volume spiked sharply after 19:00 ET, with a 15-minute turnover of $91.9 million. Turnover and price action aligned during the decline, confirming bearish pressure. Divergence appears minimal, though volume has tailed off slightly in recent hours.

Fibonacci Retracements

A 38.2% retracement level is at 0.001190, and a 61.8% level at 0.001176. The current price is near the 61.8% retracement, which could act as a short-term resistance or support depending on the next directional move.

Backtest Hypothesis

An initial backtest aimed to detect Bullish Engulfing patterns in MBLUSDT over the past three years and run a 5-day hold strategy. However, no such patterns were identified, suggesting either a lack of clear bullish reversals or overly strict detection criteria. This highlights the need to consider alternative candlestick formations (e.g., Hammer, Piercing Line) or to adjust the timeframe or asset class. Future tests could explore broader patterns or apply the strategy to other tickers with more active price behavior.

The next 24 hours could see further downside as momentum indicators remain bearish and key support levels are untested. A break below 0.001171 could trigger a test of the next Fibonacci level at 0.001164. Investors should remain cautious and watch for divergences in volume and price.