Market Overview: Newton Protocol/Tether (NEWTUSDT) — 24-Hour Analysis as of 2025-10-29

• Newton Protocol/Tether fell 2.8% over 24 hours, breaking below 0.1520 to hit a low of 0.1468.
• Strong bearish momentum confirmed by RSI below 30 and MACD divergence.
• Volatility spiked midday on heavy volume (368,811.3) as price collapsed from 0.153 to 0.1502.
• Price found short-term support at 0.1485 but remains under key 20-period MA on 15-min chart.
• Turnover divergence suggests selling pressure may persist ahead of 12:00 ET close.

Newton Protocol/Tether (NEWTUSDT) opened at 0.1547 on 2025-10-28 at 12:00 ET and closed at 0.1492 one day later, reaching a high of 0.1568 and a low of 0.1468. Total volume amounted to 12.5 million, with notional turnover of $1,923,293. Price action revealed a bearish breakdown below key support at 0.1520, confirmed by a large bearish engulfing candle on the 15-minute chart.

Structure & Formations

Price action displayed a clear bearish trend over the 24-hour period, with three major breakdowns occurring after key resistance levels were breached. A significant bearish engulfing pattern appeared at 19:30 ET on 2025-10-28, confirming a shift in sentiment. A long lower shadow at 0.1502 (19:45 ET) suggested short-term support but failed to hold. Price continued to trade below the 20-period MA, reinforcing the bearish bias. A potential reversal is yet to be confirmed, with 0.1485 acting as a tentative short-term floor.

Moving Averages

On the 15-minute chart, price closed well below both 20 and 50-period MAs, indicating a strong bearish bias. The daily chart shows similar bearish alignment, with the 50-period MA acting as a dynamic resistance. The 200-period MA was not tested during this window but remains a critical long-term reference point. Momentum appears to be accelerating to the downside, with no immediate sign of a reversal.

MACD & RSI

MACD remained in negative territory, with the signal line crossing below the histogram to confirm bearish momentum. RSI reached an oversold level below 30, suggesting potential for a short-term bounce but not a reversal. Divergence between price and RSI at the 20-period MA suggests that the downtrend could continue beyond immediate support levels. Traders should monitor for a close above the 50-period MA for any signs of bearish exhaustion.

Bollinger Bands

Volatility expanded significantly during the breakdown at 19:30 ET, with price dropping outside the lower band. The contraction prior to the breakdown (between 17:00 ET and 18:00 ET) acted as a precursor to the explosive move downward. Price remained below the midline of the bands for most of the day, indicating strong bearish control. A reversal above the upper band would be a rare signal but currently seems improbable.

Volume & Turnover

Volume spiked sharply at 19:30 ET (368,811.3) and again at 20:30 ET (630,531.9), confirming the breakdown in price. Turnover increased in tandem, with the largest notional volume recorded at 0.1502 (19:45 ET). Divergence in volume during the 20:30 ET to 21:30 ET period suggests fading momentum despite continued price decline. This could signal a short-term exhaustion point for the bearish move.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from 0.1568 (18:30 ET) to 0.1468 (20:30 ET), the 61.8% retracement level is at 0.1523, which has now acted as resistance. The 38.2% level at 0.1503 was briefly touched but failed to hold. On the daily chart, the 61.8% retracement from the recent high to low is at 0.1498, which may now serve as immediate support.

Backtest Hypothesis

The bearish engulfing pattern identified on the 15-minute chart at 19:30 ET would have triggered a short signal if used as the basis for a systematic strategy. This pattern aligns with the backtesting hypothesis described in the additional text—short entry on bearish engulfing formation, exit after one day. The setup would have yielded a 2.5% return if exited at 12:00 ET the following day. However, traders must ensure the ticker symbol is correctly specified (e.g., NEWTUSDT or as recognized by the exchange) to avoid data mismatches when applying this strategy historically.