Market Overview for Mubarak (MUBARAKUSDT)

• Price dropped sharply from 0.03601 to 0.03325, breaking key support at 0.03400.
• Volume surged after 06:00 ET, confirming a strong bearish move.
• RSI dipped into oversold territory near 0.03326, hinting at short-term bounce potential.
• Bollinger Bands widened, reflecting increased volatility and potential consolidation.
• Bearish engulfing patterns emerged at key levels, reinforcing downward bias.

Mubarak (MUBARAKUSDT) opened at 0.03577 on 2025-08-17 at 12:00 ET, reached a high of 0.03601, a low of 0.03277, and closed at 0.03318 on 2025-08-18 at 12:00 ET. Total volume was 103,211,672.3, and notional turnover was approximately $3,451,038.

Structure & Formations

Price broke through the 0.03400 support level after forming a bearish engulfing pattern at 0.03410–0.03395, followed by a deep breakdown into 0.03325. A doji formed at 0.03362, indicating indecision and potential short-term stabilization. Key resistance appears at 0.03400–0.03450, while support is now testing at 0.03325–0.03330.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs are bearishly aligned, with the 50SMA below the 20SMA. On the daily chart, the 50-period and 100-period SMAs are in a downward bias, with price now below both. The 200SMA suggests a longer-term downtrend may continue unless a strong reversal emerges.

MACD & RSI

MACD lines remained negative for most of the day, with bearish crossovers confirming the downtrend. RSI reached oversold territory near 25 at 0.03326, suggesting a short-term bounce could be possible. However, a reversal in the MACD histogram may be needed to confirm a sustainable recovery.

Bollinger Bands

Bollinger Bands expanded significantly during the sell-off, with price reaching the lower band at 0.03277–0.03330. Volatility has been on the rise, and if price consolidates near the lower band, a rebound could occur. However, a break below 0.03325 may signal further downside.

Volume & Turnover

Volume spiked after 06:00 ET as the price dropped below 0.03400, confirming the bearish move. Notional turnover also rose sharply during this period, aligning with price action. However, volume has dropped off in the last 5 hours, which may suggest a pause in the downward momentum.

Fibonacci Retracements

On the recent 15-minute swing from 0.03601 to 0.03325, the 38.2% retracement level is at 0.03480, and the 61.8% level is at 0.03375. Price appears to have bounced slightly near 0.03375, aligning with the 61.8% level. On the daily chart, Fibonacci levels suggest potential support near 0.03275 and resistance near 0.03500.

Looking ahead, Mubarak may test the 0.03325–0.03330 level for potential consolidation or a rebound, with a key watch for volume confirmation on any reversal. However, a break below this range could signal further weakness. Investors should remain cautious and watch for divergences in the RSI and MACD.