Market Overview: Mubarak/Tether (MUBARAKUSDT)

• Price declines from 0.03399 to 0.03213 over 24 hours, showing bearish momentum.
• Volume surges at key support levels (0.0329–0.0332), confirming bearish pressure.
• RSI and MACD signal oversold conditions near 0.0321, hinting at potential short-term bounce.
• Bollinger Band contraction observed pre-breakdown, followed by sharp volatility expansion.
• Fibonacci 61.8% retracement aligns with 0.0324–0.0325, a possible near-term pivot zone.

Mubarak/Tether (MUBARAKUSDT) opened at 0.03389 on 2025-09-13 12:00 ET, reaching a high of 0.03399 and a low of 0.03213 before closing at 0.03213 on 2025-09-14 12:00 ET. The 24-hour volume was 52,674,575.69, with a notional turnover of 1,732.59 USD. The price trend shows a bearish shift with high volatility.

Structure & Formations

The 24-hour price action forms a descending triangle with key resistance around 0.0339 and support at 0.0329. Notable bearish patterns include a shooting star at 0.03399 and a bearish engulfing pattern at 0.0335. A key support zone is forming at 0.0321–0.0323, where a bullish reversal may occur if volume rises again. A doji at 0.03293 suggests indecision and potential consolidation.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are in a bearish crossover, with the 50-period MA below the 20-period MA. On the daily chart, the 50-period MA is approaching the 200-period MA, suggesting potential for a bearish crossover into a strong downtrend phase. Price is currently below both the 20 and 50-period MAs on the shorter timeframe.

MACD & RSI

The 15-minute MACD is bearish, with the line below the signal line and negative histogram bars. RSI has dipped into oversold territory near 0.0321, reaching 28–30 levels. This could signal a short-term rebound, but confirmation is needed on higher timeframe RSI divergence. The RSI is forming a possible base at 30–32, which may act as a short-term floor if volume increases.

Bollinger Bands

Volatility expanded significantly as price broke below the lower Bollinger Band at 0.0321. The contraction preceding this breakdown was observed between 0.0335 and 0.0337, indicating a period of consolidation before the breakout. Price is now trading near the lower band again, with the midline at 0.0330 offering potential resistance if bullish volume emerges.

Volume & Turnover

Volume spiked to 2.9 million at 0.0329, confirming bearish pressure at that level. Notional turnover peaked at $38.5 during the breakdown from 0.0334 to 0.0329. A divergence is forming between volume and price: as price declines, volume is not surging as expected, suggesting weakening bearish momentum. This could be an early sign of a reversal or consolidation.

Fibonacci Retracements

On the 15-minute chart, price is testing the 61.8% retracement level of the recent swing from 0.03399 to 0.03213, which aligns with 0.0324–0.0325. This zone may act as a short-term support or pivot point. On the daily chart, the 61.8% level of the broader move from 0.03399 to 0.03213 is also in the same range, reinforcing its importance.

Backtest Hypothesis

The proposed backtesting strategy leverages Fibonacci retracement levels (61.8% and 38.2%) in conjunction with RSI oversold readings (≤30) and volume confirmation. A buy signal is triggered when price bounces off the 61.8% level with a bullish engulfing or hammer candle, RSI rises above 30 with increasing volume, and the 20-period MA crosses above the 50-period MA. The stop-loss is placed below the 50-period MA, and a target is set at the 38.2% retracement level. The results of this strategy would help assess the efficacy of using these technical indicators in capturing short-term bounces in a bearish trend.