Market Overview for Orca/Tether (ORCAUSDT) – 24-Hour Summary

Summary
• ORCAUSDT opened at $1.372 and closed at $1.356, with a high of $1.392 and low of $1.342.
• A bearish trend dominates with RSI in oversold territory and negative MACD divergence.
• Volume spiked during early ET hours, but late volume declined alongside price.

Orca/Tether (ORCAUSDT) opened at $1.372 on 2025-11-05 at 12:00 ET, closed at $1.356 on 2025-11-06 at 12:00 ET, reaching a high of $1.392 and a low of $1.342 over the 24-hour period. Total traded volume amounted to 151,489.2 USD, with a total turnover of approximately $209,000. The price has seen a bearish consolidation pattern over the last day, with a series of smaller bullish and bearish candles failing to establish a clear reversal.

Structure & Formations

The 24-hour candlestick pattern shows a bearish structure with several key support levels forming around the $1.36–$1.37 range. Notably, the $1.382–$1.387 range acted as a strong resistance zone, with multiple candlestick bodies failing to close above this area. A bearish engulfing pattern was observed in the 18:45–19:00 ET timeframe (UTC-5), suggesting bearish momentum. A hanging man pattern emerged near $1.387, indicating potential exhaustion in the bullish wave before the price declined sharply.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages have both trended lower, with the price oscillating below both, indicating bearish pressure. On the daily chart, the 50-period MA is above the 100-period and 200-period MAs, suggesting medium-term bearish bias. The price remains below all three, indicating a stronger bearish setup.

MACD & RSI

The MACD line has turned negative and is below the signal line, with bearish divergence evident in the late hours of the period. The RSI has dipped into oversold territory below 30 for much of the day, indicating potential for a short-term bounce. However, the failure to break above key resistance levels suggests this oversold condition may not lead to a significant reversal.

Bollinger Bands

Volatility remained relatively stable throughout the 24-hour period, with the bands widening slightly during the sharp decline from $1.38 to $1.36. The price spent most of the day within the lower half of the Bollinger Bands, indicating a consolidating bearish trend. A sharp move below the lower band at $1.347 confirmed bearish momentum in the late ET hours.

Volume & Turnover

Volume spiked early in the session, peaking at 5,559.8 USD during the 23:45–00:00 ET hour, coinciding with a sharp decline from $1.379 to $1.372. However, in the final hours, volume dropped significantly, despite the price continuing to trend lower. This suggests weakening conviction in the bearish move. Notional turnover was highest during the 04:00–04:45 ET window, coinciding with a retest of the $1.37–$1.375 range.

Fibonacci Retracements

Applying Fibonacci retracements to the key swing from $1.342 to $1.392, the 50% level at $1.367 and 61.8% level at $1.372 have been tested multiple times. The 38.2% level at $1.369 also showed some consolidation. A break below $1.36 could target the 23.6% retracement at $1.357, but a retest of the $1.365–$1.37 range is likely in the near term.

Backtest Hypothesis

To validate the bearish signals observed today, a backtest using the “Bullish Engulfing” candlestick pattern could be implemented. This pattern is typically identified by a large bullish candle following a smaller bearish one. The signal can be detected using raw OHLC data by comparing the open and close of consecutive candles. Once detected, the backtest would measure the performance of a 3-day holding period. If you confirm the ticker (e.g., BLSH.N or HOLD.P) and the indicator name for the pattern (e.g., “CANDLE_BULL_ENGULFING”), I can run a historical backtest from 2022-01-01 to today and present the results. This would help assess the reliability of such patterns for entry and exit timing in similar setups.