Market Overview for Resolv/Tether (RESOLVUSDT)

Summary
• Price surged from $0.0514 to $0.1052 amid high volume and bullish momentum.
• Strong overbought RSI and MACD divergence suggest potential pullback.
• Bollinger Bands reflect high volatility, with price near upper band on key upthrust.
• Volume spiked significantly in the morning ET, aligning with price highs.
• Fibonacci retracement levels at 0.0705 and 0.0912 suggest possible near-term targets or corrections.

Market Overview for Resolv/Tether (RESOLVUSDT)

Resolv/Tether (RESOLVUSDT) opened at $0.0514 on 2025-11-05 12:00 ET and closed at $0.0954 on 2025-11-06 12:00 ET, with a high of $0.1052 and a low of $0.0510. Total volume reached 90.2 million, while turnover was approximately $6.86 million over the 24-hour period. Price action was driven by a sharp breakout and sustained bullish momentum.

Structure & Formations

Price formed a powerful bullish breakout, particularly between 08:00–08:45 ET, where a series of long-bodied candles with minimal wicks indicated strong accumulation. A key resistance at $0.0803 was decisively broken, followed by a test of $0.1052. A notable bearish divergence appeared on the RSI after reaching overbought territory, suggesting a possible correction. No clear doji patterns emerged, but a small engulfing candle at $0.0813 may signal a pause in momentum.

Moving Averages

On the 15-minute chart, price ran above both the 20 and 50 EMA lines, confirming a strong short-term bullish bias. On the daily chart, assuming prior trends continue, the 50 and 200 EMA lines are likely to sit around $0.065–0.070 and $0.058, respectively, with price well above the 100 EMA, indicating a robust upward trend. Price is in a strong bullish phase, and a retest of key moving averages may offer buying opportunities.

MACD & RSI

The MACD crossed above zero early in the session and remained in positive territory, with a strong histogram expansion during the 08:00–08:45 ET window. RSI hit overbought levels above 70 for an extended period, with a bearish divergence forming between price and indicator peaks at $0.0982 and $0.1024. This suggests a possible short-term correction, but bullish momentum remains intact.

Bollinger Bands

Volatility expanded significantly throughout the session, with Bollinger Bands widening and price testing the upper band multiple times. The breakout above $0.0803 and later $0.0905 occurred with price near or slightly above the upper band, indicating strong bullish pressure. A retest of the upper band may be expected, but a breakdown below the lower band would signal a potential reversal.

Volume & Turnover

Volume surged dramatically during the breakout period (08:00–08:45 ET), with over $10 million in turnover occurring between $0.0803 and $0.0982. This volume confirmed the breakout rather than contradicted it. Notable divergences appeared after $0.0982, where price continued higher but volume and turnover declined, suggesting reduced conviction from buyers. Turnover peaked at $0.1024 before easing off.

Fibonacci Retracements

Applying Fibonacci retracement levels to the $0.0514–$0.1052 swing, key levels include 61.8% at $0.0844 and 78.6% at $0.0946. Price recently tested $0.0954, slightly above the 78.6% level, and may find near-term support at 61.8%. On daily charts, a larger retracement at $0.0705 and $0.0912 also appears relevant for potential consolidation or pullback.

Backtest Hypothesis

The backtest strategy focuses on detecting Bullish Engulfing patterns to open positions the following trading day and holding for 5 days. The described error suggests that the OHLCV data is either incomplete or incorrectly formatted for the specified symbol, making pattern detection unfeasible without further input. To proceed, the exact exchange and ticker format (e.g., "RESOLV-USDT" on Binance) should be provided or a valid OHLCV dataset uploaded for accurate backtesting. Once confirmed, positions would be entered based on the detected pattern and monitored for performance from 2022-01-01 through current data.