Market Overview for SafePal/Tether (SFPUSDT) as of 2025-10-24 12:00 ET

• Price dipped 2.6% in 24 hours, closing near support at 0.3773
• Volatility expanded during the early overnight selloff, with volume surging near 65k
• Oversold RSI levels and bullish retracement hints suggest potential for a short-term rebound
• MACD trend weakened into negative territory, but momentum appears to stall

SafePal/Tether (SFPUSDT) opened at 0.3807 on 2025-10-23 12:00 ET, reached a high of 0.3869, and closed at 0.3773 on 2025-10-24 12:00 ET, with a low of 0.3759. The pair saw a total volume of 554,900 and a turnover of approximately $213,000. Price action suggests a potential consolidation phase amid bearish bias and oversold conditions.

Structures & Formations

A key support level appears at 0.3759–0.3773, with a 61.8% Fibonacci retracement of the prior bullish swing (0.3759–0.3869) at 0.3811 offering near-term resistance. A bearish engulfing pattern formed during the overnight selloff (2025-10-23 21:00–22:00), suggesting continued downward pressure. A doji formed at 0.3772–0.3773, indicating indecision and potential reversal if buyers step in.

Moving Averages

On the 15-minute chart, the 20-period moving average (20SMA) crossed below the 50SMA in the early morning, confirming a bearish bias. The 50SMA currently sits near 0.3805, while the 200-period daily moving average is near 0.3835, indicating that the asset is below its longer-term average and could face pressure to test key Fibonacci levels.

MACD & RSI

The 15-minute MACD trend line turned negative, with bearish divergence seen in the early morning. RSI is near 30, suggesting overbought conditions earlier in the day and now oversold, hinting at a potential rebound. Momentum appears to have stalled, but the RSI’s position in oversold territory suggests a short-term bounce may occur if buyers take control.

Bollinger Bands

Volatility expanded overnight, with the Bollinger Bands widening significantly during the 0.3759–0.3773 low. The price has since traded near the lower band, suggesting continued bearish momentum. A reversal above the upper band (near 0.3835–0.3845) would indicate a breakout from the consolidation phase.

Volume & Turnover

Volume spiked near 65,000 during the early morning selloff, confirming the bearish trend. Turnover rose sharply as prices dropped, with no major divergence seen between volume and price action. This suggests the bearish move is backed by significant selling pressure rather than a temporary dip.

Fibonacci Retracements

The 38.2% retracement level of the recent swing (0.3759–0.3869) is at 0.3811, which coincides with the 50SMA. This level could become a key support/resistance cluster for the next 24 hours. A break above this level would suggest a potential continuation of the bullish bias, while a breakdown would reinforce bearish momentum.

Backtest Hypothesis

Given the current overbought/oversold RSI conditions and the key Fibonacci levels, a backtest using the daily 14-period RSI could be informative. A strategy based on RSI overbought (above 70) and oversold (below 30) levels, combined with moving average crossovers and Fibonacci retracements, could be used to identify potential long and short entries. If the RSI retests the 30 level without breaking below it, a long bias may be appropriate; a sustained move above 50 could confirm the trend’s resumption.