Summary
• Price declined from 0.0950 to 0.0902 before a late recovery to 0.0940.
• Strong volume spikes confirmed the early dip and late rally.
• RSI signaled oversold conditions in the morning and overbought in the afternoon.
• Bollinger Bands showed a volatility expansion after a midday contraction.
• A bullish engulfing pattern formed around 0.0903–0.0931, suggesting short-term reversal.
Newton Protocol/Tether (NEWTUSDT) opened at 0.0950, reached a high of 0.0952, and a low of 0.0883 before closing at 0.0940 at 12:00 ET. Total volume was 2,201,774.0, with notional turnover at $205,584. The price action reflects a volatile but ultimately consolidating session.
Structure & Formations
The price action formed a bearish impulse during the early hours, breaking below 0.0927 and testing support near 0.0901.
A bullish engulfing pattern developed after 0.0903, which was followed by a consolidation phase. A key resistance level appears to be forming at 0.0931–0.0934, where the price frequently capped and reversed.
Moving Averages
On the 5-minute chart, the price spent much of the session below the 20- and 50-period moving averages, indicating a bearish bias earlier in the day. Later, it closed near the 50-period MA, suggesting a potential re-equilibration in short-term momentum. Daily moving averages (50/100/200) remain above the current level, indicating a longer-term bearish backdrop.
Momentum & Oscillators
MACD showed a bearish crossover early in the session, aligning with the price drop below 0.0925. RSI hit an oversold level near 0.0902 before a late rebound pushed it into overbought territory. This suggests strong short-term momentum could have developed after the dip, though a reversal may be in play if RSI fails to sustain above 60.
Volatility & Bollinger Bands
Bollinger Bands constricted after the price settled near 0.0905–0.0906, indicating a period of low volatility. The subsequent break above the upper band suggests renewed volatility. The price remains within the bands, suggesting a potential continuation or consolidation phase ahead.
Volume & Turnover
Volume surged during the early decline, confirming bearish momentum, and spiked again during the late recovery. Notional turnover mirrored volume, suggesting strong participation in both the selloff and rally. No divergence was observed between price and volume, indicating solid conviction in both phases.
Fibonacci Retracements
Key retracement levels from the 0.0883 low to the 0.0952 high include 0.0901 (38.2%) and 0.0932 (61.8%). The price paused at both levels, suggesting they are critical for future directional bias. A break above 0.0934 may indicate a return to the 61.8% level for further validation.
The market appears to be testing a potential support-to-resistance conversion at 0.0901–0.0934 over the next 24 hours. A sustained move above 0.0940 could confirm the bullish engulfing pattern, but traders should remain cautious of potential pullbacks toward the 0.0910 level.
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