Market Overview for MyShell (SHELLUSDT) on 2025-07-31

• MyShell traded in a narrow range for over 12 hours before breaking out with a sharp 2.5% rally in early NY session.
• Volume surged over 10x in the final 6 hours, confirming the breakout and suggesting strong buyer conviction.
• RSI climbed into overbought territory, hinting at potential pullback, though momentum remains robust.
• Price tested the 0.1597–0.1623 consolidation range multiple times before decisively breaking higher.
• Bollinger Bands expanded sharply during the breakout, signaling increased volatility and trend continuation potential.

MyShell (SHELLUSDT) opened at $0.1597 at 12:00 ET − 1, reached a high of $0.1684, and closed at $0.1595 by 12:00 ET. Total volume exceeded 9.8 million, with a notional turnover of $1.67 million, reflecting strong buying pressure in the final hours of the session.

Structure & Formations

The price remained range-bound between $0.1597 and $0.1623 for the first 12 hours, forming a consolidation pattern. The breakout occurred at 00:15 ET, marked by a bullish engulfing pattern and a strong rejection of the lower boundary at 0.1623. A key support level was established at $0.1597, which held twice during the pullback, suggesting it could act as a psychological floor in the near term.

Moving Averages

On the 15-minute chart, the price closed above both the 20-period and 50-period moving averages, indicating bullish momentum. While a longer-term daily chart is not provided, the current short-term trend appears to be aligning with the 20-period MA.

MACD & RSI

The MACD line crossed above the signal line in early NY session, confirming the breakout. RSI climbed into overbought territory (above 70) during the rally, suggesting that a short-term pullback could be due. However, the divergence between the MACD and RSI remains relatively aligned, indicating strong momentum may persist.

Bollinger Bands

Bollinger Bands were compressed during the consolidation phase, signaling low volatility. The breakout triggered a sharp expansion, with price closing near the upper band during the rally. This suggests that volatility has increased significantly and that the trend could continue in the near term.

Volume & Turnover

Volume spiked dramatically during the final 6 hours of the session, exceeding 9.2 million in the 00:15–06:00 ET period. This surge in volume confirmed the breakout and indicated strong institutional or algorithmic buying. Notional turnover also spiked in line with the volume, showing no signs of price-volume divergence.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from $0.1597 to $0.1684, the price retraced to the 61.8% level at $0.1636 before pulling back. This suggests that the 61.8% level is a strong area of interest for buyers and may act as a potential support zone in the next 24 hours.

In the next 24 hours, MyShell may consolidate near the 61.8% Fibonacci level or retest the $0.1597 support if volatility increases. Traders should remain cautious of a potential pullback after the overbought RSI and sharp volume spike, but the overall trend appears to favor continuation of the breakout.