Market Overview for Newton Protocol (NEWTUSDT)

Summary

• Price formed a bearish engulfing pattern at the session high, followed by a consolidation phase within a narrowing range.• A strong volume spike occurred at the 18:00 ET 15-minute candle, coinciding with a sharp intrabar pullback.• RSI entered oversold territory near 28, suggesting potential short-term support, though momentum remains bearish.• Bollinger Bands showed moderate contraction, indicating reduced volatility.• The 20-period EMA crossed below the 50-period EMA, signaling a bearish bias in the 15-minute timeframe.

Market Overview

Newton Protocol (NEWTUSDT) opened the 24-hour window at 0.3086 on 2025-08-22 at 12:00 ET, reached a high of 0.3143, a low of 0.3064, and closed at 0.3072 as of 2025-08-23 at 12:00 ET. The 24-hour volume amounted to 3,242,268.9 units, with total turnover at 1,019.76 USD.

Structure & Formations

Price action on the 15-minute chart exhibited a bearish engulfing pattern on the 17:45 ET candle, which marked a potential reversal after a brief bullish push. A key support level formed around 0.3072, where the price found multiple bids, particularly around 03:00 and 05:30 ET. A small doji formed at 04:15 ET, indicating indecision after a sharp dip. Resistance is evident around 0.3125, where buyers failed to hold on multiple occasions.

Moving Averages

On the 15-minute timeframe, the 20-period EMA crossed below the 50-period EMA, signaling a short-term bearish bias. While the 50-period EMA is still above the 200-period EMA, the 15-minute chart suggests bearish momentum. On the daily timeframe, the 50-period and 200-period EMAs remain flat with no clear direction, suggesting a continuation of a sideways or consolidation phase.

MACD & RSI

The MACD line remained below the signal line throughout the session, showing bearish momentum, with a slight flattening in the last few hours. RSI entered oversold territory at 28 around 02:45 ET, which may indicate a short-term support level. However, price failed to bounce strongly from this area, suggesting weak conviction among buyers.

Bollinger Bands

Bollinger Bands showed a period of moderate contraction around 04:00–05:00 ET, indicating reduced volatility and potentially a prelude to a breakout. Price remained within the bands for most of the session, but at key moments, especially around 18:00 and 02:00 ET, price touched the lower band, indicating bearish pressure. The upper band remained at 0.314, which acted as a resistance level.

Volume & Turnover

Volume spiked at 18:00 ET, coinciding with a sharp intrabar pullback from 0.3125 to 0.3103. Turnover increased in line with volume, suggesting genuine participation. A divergence appeared at 02:30 ET, where volume was high but price did not follow through, indicating potential exhaustion. The 18:00 and 02:00 ET candles accounted for over 30% of the total volume, suggesting strong bearish pressure during those intervals.

Fibonacci Retracements

Applying Fibonacci retracements to the key 15-minute swing high (0.3143 at 17:45 ET) and swing low (0.3064 at 02:30 ET), 0.3072 aligns with the 61.8% retracement level. This area saw multiple bounces and may offer temporary support. On the daily chart, the 61.8% retracement level aligns with 0.313, which may act as resistance in the next 24–48 hours.

Looking ahead, traders should monitor the 0.3072 level for potential short-term support and watch for a potential test of 0.3125. A break below 0.305 would indicate further bearish momentum, though volume may need to confirm any deeper move. As always, volatility remains a key risk for both bulls and bears.