Market Overview for MUBARAKUSDT on 2025-11-06

Summary
• Price declined from 0.0184 to 0.01803 over 24 hours, with a 20% drop in the final 9 hours.
• Volatility expanded during the decline, with a high-low range of 0.0003 in the last 12 hours.
• Volume increased significantly in the late ET hours, but price failed to confirm bullish follow-through.

The MUBARAK/Tether pair (ticker MUBARAKUSDT) opened at 0.0184 on 2025-11-05 12:00 ET and closed at 0.01803 on 2025-11-06 12:00 ET. The high and low for the 24-hour period were 0.01857 and 0.01764, respectively. The total traded volume over 24 hours was 44.1 million, while the notional turnover reached $789,454. A clear bearish trend emerged after the market turned the clock past 00:00 ET on 2025-11-06, with selling pressure intensifying as the day progressed.

Structure & Formations

The price action on the 15-minute chart shows a series of bearish engulfing patterns and long-tailed dojis after 00:30 ET, indicating indecision and exhaustion among bulls. A key support level appears to have formed around 0.0179–0.0180, with the price consolidating near this area before the close. Resistance levels to watch include 0.0183 and 0.0185, which the price struggled to hold above earlier in the day.

Moving Averages

The 20- and 50-period moving averages on the 15-minute chart crossed bearishly during the morning ET hours, confirming a short-term trend reversal. For the daily chart, the 50-period MA has crossed below the 200-period MA, forming a potential death cross, which may amplify bearish momentum going forward.

MACD & RSI

The MACD turned bearish after 02:00 ET, with negative histogram bars expanding through the early hours, reinforcing the downward bias. RSI dipped into oversold territory briefly around 01:45 ET, but failed to produce a strong rebound. This suggests a lack of buying interest despite the deep pullback.

Bollinger Bands

Volatility widened in the latter half of the 24-hour period, pushing the price lower within the Bollinger Band structure. The price closed near the lower band, with a narrow range forming in the final hour. This may signal a potential rebound, though without a clear reversal pattern, a continuation of the trend remains probable.

Volume & Turnover
Volume spiked dramatically after 00:00 ET, with the largest 15-minute bar occurring at 03:00 ET (4.5 million volume). However, the price closed lower on that bar, indicating bearish conviction. The notional turnover also increased in the early hours, aligning with the price move. No significant divergence between volume and price was observed, supporting the bearish interpretation.

Fibonacci Retracements

Applying Fibonacci levels to the 15-minute swing from 0.01857 to 0.01764, the 61.8% retracement level at 0.01814 acted as a temporary floor. A break below 0.0180 could target the 50% level at 0.0181. On the daily chart, the 61.8% retracement of the larger move suggests a possible near-term support around 0.0179, which appears to have been tested.

Backtest Hypothesis

The attempt to retrieve the 14-period RSI for MUBARAKUSDT was unsuccessful, likely due to symbol formatting or exchange-related data availability issues. This highlights the importance of verifying symbol notation and ensuring data source compatibility when building quantitative strategies. An alternative approach could involve testing similar symbols or proxy assets with comparable volatility and liquidity. If a proxy is not suitable, adjusting the exchange or using a different quote currency may be necessary to continue the backtest.