Market Overview for MovieBloc/Tether (MBLUSDT)

• MovieBloc/Tether (MBLUSDT) experienced a 24-hour range between $0.001345 and $0.001397 with a slight bearish bias.
• Price action shows key support near $0.001350–0.001355 and resistance at $0.001385–0.001390.
• Volume spiked during a late morning pullback but failed to confirm a bullish breakout.
• Momentum indicators suggest overbought conditions at daily highs, with RSI peaking around 65.
• Total notional turnover reached $104,025.56 on 316,550,687 MBL tokens traded.

The 24-hour session for MovieBloc/Tether (MBLUSDT) opened at $0.001377 (12:00 ET – 1), hit an intraday high of $0.001397, and closed at $0.001387 (12:00 ET) with a low of $0.001345. Total volume amounted to 316,550,687 MBL tokens, translating to a turnover of $104,025.56. Price action displayed a bearish consolidation from the morning high, with a failed attempt to retest the $0.001385–0.001390 resistance zone in the afternoon.

Key support levels were tested in the late morning at $0.001350–0.001355, with a brief pullback to $0.001352 showing a potential short-term floor. Resistance around $0.001385–0.001390 was met with increased bearish pressure, particularly between 15:00 and 17:00 ET. Notable candlestick patterns included a Bearish Engulfing at 14:30 ET and a Hanging Man at 10:15 ET, both signaling caution. A Bullish Engulfing formed at 07:15 ET but failed to trigger a lasting rally.

Structure & Formations

Price consolidated in a descending wedge pattern from the morning high, failing to break above the $0.001385 pivot. A Bearish Inside Bar appeared at 15:30 ET, signaling short-term bearish momentum. The $0.001356–0.001360 level acted as a short-term support zone, with price rebounding twice during the session.

Moving Averages

On the 15-minute chart, the 20-period SMA crossed above the 50-period SMA briefly in the early morning before the trend reversed. The 50-period SMA held just below $0.001380, indicating bearish bias into the close. Daily moving averages showed the 50-period SMA at $0.001374, the 100-period at $0.001372, and the 200-period at $0.001370, all aligning to support the bearish trend.

MACD & RSI

The MACD line showed a bearish crossover around 14:00 ET, with bearish divergence in the histogram between 15:00 and 17:00 ET. RSI reached overbought territory at 65 during the morning high but retreated into neutral territory by the close. A bearish divergence was observed between 15:00 and 17:00 ET, suggesting further downside potential ahead.

Bollinger Bands

Volatility expanded in the morning with a 15-minute BB width of ~0.000018, narrowing to ~0.000011 by the afternoon. Price remained within the lower half of the bands for most of the session, indicating a bearish contraction in volatility.

Volume & Turnover

Notable volume spikes occurred at 14:15 ET (34.6 MBL tokens) and 09:45 ET (40.2 MBL tokens), but price failed to break out meaningfully. A bearish divergence appeared in the 14:30–16:30 ET window, where volume increased while price declined.

Fibonacci Retracements

Applying Fibonacci to the 15-minute swing from $0.001345 to $0.001397, the 61.8% retracement level at $0.001369 held as key support. The 38.2% level at $0.001378 was tested but failed to hold.

Backtest Hypothesis

An attempted backtest for the Bullish Engulfing pattern on the MBLUSDT pair over the last four years revealed no qualifying signals under the default pattern detection criteria. This suggests that either the pattern is rare in this asset’s price behavior or the detection parameters need adjustment for more leniency (e.g., smaller body overlaps, or allowing outside bars). Given the presence of a Bullish Engulfing at 07:15 ET in the 24-hour data, loosening the criteria may yield actionable signals. A future backtest using a relaxed filter or incorporating additional pattern types (e.g., Hammer, Morning Star) could enhance strategy robustness.