Market Overview for Newton Protocol/Tether (NEWTUSDT)

• Price surged 11.7% over 24 hours on strong volume near key resistance.
• Momentum accelerated mid-day with a bullish breakout above 0.1485.
• Volatility expanded in final hours as price tested new 15-day highs.
• Volume increased by 542% compared to early morning sessions.
• RSI entered overbought territory, suggesting caution for near-term continuation.

Newton Protocol/Tether (NEWTUSDT) opened at 0.1478 on 2025-10-23 12:00 ET and closed at 0.1518 by 12:00 ET the following day, surging 11.7%. The 24-hour period saw a high of 0.1565 and a low of 0.1463. Total volume amounted to 4,722,463.5 units, while notional turnover reached approximately $692,294. The price action reflected a strong bullish bias, particularly from 4:00 AM to 10:00 AM ET when volume surged and price accelerated above key resistance levels.

The structure of the 24-hour OHLCV data revealed a strong bull trend, with price forming a clear ascending triangle pattern and a bullish engulfing pattern at 0.1485. These formations suggest a possible continuation of the upward move. Key support levels are seen around 0.1475–0.1480, with resistance strengthening at 0.1525 and 0.1540. A doji near 0.1535 at 5:45 AM ET signaled indecision, but it was quickly absorbed by the bullish momentum that followed.

Moving averages on the 15-minute chart showed a clear bullish crossover, with the 20-period MA (0.1499) above the 50-period MA (0.1496). On the daily chart, the 50- and 100-period MAs are aligned with the upward trend, indicating no bearish divergence. The 200-day MA remains a long-term support at around 0.1465, which was tested twice but not broken in the last 24 hours.

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The MACD turned positive mid-day and remained above the signal line, confirming the bullish shift. RSI climbed into overbought territory (66–72), suggesting a potential pullback. However, with price staying above both MAs and volume supporting the move, momentum could continue. Bollinger Bands expanded in the final hours, indicating increased volatility as the price approached the upper band. Price may test the 0.1565 high from 6:00 AM ET again, with 0.1545–0.1550 as a key watch area.

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Fibonacci retracement levels on the 24-hour swing showed the 0.1525–0.1530 range aligning with 61.8% retracement from the low at 0.1463. This level has acted as a strong pivot point, with volume confirming the price’s ability to hold above it. On the daily chart, the 38.2% and 61.8% retracements from the previous swing lows align closely with key support levels, offering further validation for the continuation pattern.

Backtest Hypothesis

A strategy based on daily Bullish-Engulfing patterns failed to generate valid signals for the period 2022-01-01 to 2025-10-24, as no candles met the pattern criteria in the dataset. This highlights the potential rigidity of the current definition, which requires the current candle to fully engulf the prior candle’s range. While this may be appropriate for higher timeframes or more volatile pairs, it may be too strict for 15-minute data or less volatile assets like NEWTUSDT. Relaxing the definition to require only body engulfment, or adjusting for equal opens and closes, could yield actionable signals. Alternatively, a shorter look-back window or a broader universe of tickers may be more appropriate for backtesting this pattern. If manually defined events are used, the strategy could be re-evaluated with precise entry/exit dates.

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