Summary
• Price action showed a bearish breakdown from 5.323 to 5.267, with a recovery attempt to 5.333 failing.
• RSI hit oversold territory below 30, while MACD crossed into negative territory, suggesting momentum favoring bears.
• Volume surged to 55,430.223 at 03:45 ET as price dropped 2.5%, highlighting increased bearish conviction.
• Bollinger Bands contracted between 5.28 and 5.25, signaling potential volatility expansion ahead.
• Key support appears at 5.25, with a bullish engulfing pattern forming at 5.25–5.287 in the early morning session.
24-Hour Summary
The 24-hour period for OFFICIAL TRUMP/Tether (TRUMPUSDT) saw a bearish open at 5.323, a high of 5.333, a low of 5.193, and a close at 5.267 at 12:00 ET. Total volume reached 1,232,973.442, with turnover amounting to approximately $6.4 million.
Structure and Formations
Price action revealed a key bearish breakdown from the 5.323–5.333 range, followed by a failed bullish recovery. A significant support zone formed around 5.25–5.26, marked by a bullish engulfing pattern.
A large bearish candle at 5.286–5.273 signaled increased selling pressure.
Moving Averages and Momentum
Short-term moving averages on the 5-minute chart (20/50) have crossed bearishly, reinforcing the downward bias. RSI dipped below 30 for a period, suggesting oversold conditions, though no immediate reversal occurred. MACD turned negative and remains below the signal line, indicating bearish momentum.
Volatility and Bollinger Bands
Bollinger Bands narrowed between 5.28 and 5.25 in the early hours, signaling a potential breakout. Price remained below the middle band for most of the 24 hours, pointing to a volatile expansion likely in the next session.
Volume and Turnover Divergences
Volume spiked sharply at 55,430.223 during the 5.286–5.273 bearish candle, confirming the move. Turnover aligned with volume patterns, showing no divergences between price and on-chain activity.
Looking ahead, price may test the 5.25–5.26 support cluster, with a potential rebound into the 5.29–5.31 range. Traders should remain cautious of a potential breakdown below 5.25, which could trigger a deeper pullback.
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