Market Overview for Mubarak/Tether (MUBARAKUSDT) on 2025-11-03

• MUBARAKUSDT fell from 0.0201 to 0.01414 within 24 hours, marking a sharp decline.
• Oversold conditions developed on RSI and Bollinger Band compression.
• Volume spiked during the downward move, suggesting strong bearish pressure.
• Key Fibonacci levels at 0.01618 and 0.01414 align with support and breakdown points.

24-Hour Market Overview

Mubarak/Tether (MUBARAKUSDT) opened at 0.01963 on 2025-11-02 12:00 ET and closed at 0.01666 by the same time on 2025-11-03. The price reached a high of 0.02008 and a low of 0.01414 during the period. Total trading volume was 178,912,054.9 and notional turnover amounted to $2,964,772.29 (based on volume × price). The sharp drop suggests a bearish breakout from key psychological and Fibonacci levels, with heavy volume and bearish momentum reinforcing the move.

Structure & Formations

The price action shows a significant bearish breakdown, supported by a strong volume spike during the 1530–1545 ET window (15:30–15:45). A bearish engulfing pattern formed during this time, confirming a shift in sentiment. A long lower shadow on the 1545 candle (closing at 0.01653) suggests initial support was met, but the price quickly broke below this level. A potential key support level forms around the 0.01414–0.01415 range from the lows in the final 15-minute candle.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart were both bearishly aligned, with the 50-period line well above the price by the end of the 24-hour period. On the daily chart, the 50, 100, and 200-period moving averages would be expected to show a similar bearish divergence, given the sharp decline. This suggests a strong shift in trend, with price now well below all key MAs.

MACD & RSI

The RSI has plunged into oversold territory, with the 15-minute chart showing RSI levels dipping below 30. The MACD is deeply negative, with both the line and histogram showing bearish dominance. The sharp divergence between the bearish price action and the slight RSI bounce at 0.01653 suggests a potential short-term bounce, but the RSI remains in oversold conditions, indicating a high probability of further downward correction unless there is a strong reversal candle.

Bollinger Bands

Volatility expanded significantly during the breakdown, with the upper and lower bands widening. The price has collapsed through the lower band, suggesting a strong bearish move with high volatility. This type of expansion often precedes a consolidation or a reversal, but in this case, the volume and price action confirm the breakdown rather than a false move.

Volume & Turnover

The highest volume spike occurred during the 1530–1545 ET window, coinciding with the breakdown below the 0.01653 level. This confirms bearish control during that period. Turnover during this time was also disproportionately large, indicating significant institutional or large-cap selling pressure. Price and turnover are aligned during the drop, showing strong bearish conviction. No notable divergence is present in the final 15-minute period, suggesting the move is still in play.

Fibonacci Retracements

Applying Fibonacci retracements to the 15-minute swing from 0.01963 to 0.02008, the 61.8% level corresponds to approximately 0.01980. The price broke below this level and continued to fall, confirming the bearish bias. On the larger daily swing from 0.01963 to 0.01414, the 61.8% retracement level is around 0.01667, which aligns with the 1545 low. This suggests strong immediate support, but it was quickly broken, indicating the market is still in correction mode.

Backtest Hypothesis

Given the strong bearish move and confirmation through volume, structure, and indicators, a potential backtesting hypothesis could be based on a short trade setup triggered by a bearish engulfing pattern at key support levels (e.g., 0.01653–0.01670) with a stop above the 50-period moving average and a target at the next Fibonacci level (0.01414). This strategy would align with the recent RSI and MACD divergence, and could be further refined by including a filter for volume spikes to confirm the breakdown.