Summary
• Price action shows a late-night bullish breakout followed by consolidation near 0.3095–0.3105.
• RSI remains within moderate momentum zones, suggesting no overbought or oversold extremes.
• Volatility increased mid-session, with volume surging around the 0.3100–0.3110 cluster.
• A bullish engulfing pattern formed near 0.3089, reinforcing potential for follow-through buying.
• 50-period MA on the 5-min chart acts as dynamic support near 0.3097–0.3100.
Market Overview
At 12:00 ET–1 on 2025-12-23, SafePal/Tether (SFPUSDT) opened at 0.3061, hit a high of 0.3115, a low of 0.3030, and closed at 0.3089 by 12:00 ET. Total volume reached 613,746.0, with a notional turnover of approximately 184.67 (based on amount × price).
Structure & Formations
The price moved from a midday dip in the 0.3030–0.3050 range to a late-night rally above 0.3100, forming a
bullish channel. A bullish engulfing pattern appeared at the 0.3089 level, reinforcing strength in that zone. Key support is seen at the 0.3070–0.3080 level, where buyers reentered after a midday pullback.
Moving Averages
The 50-period MA on the 5-min chart currently sits around 0.3097, acting as a dynamic support line. The 20-period MA has been slightly below price in the late hours, indicating a reacceleration in the short-term trend. On the daily chart, the 50-period MA is near 0.3085, aligning with recent support levels.
MACD & RSI
The MACD shows a narrowing positive divergence, indicating waning momentum in the rally but no bearish flip yet. RSI remains in the mid-50s, avoiding overbought levels and suggesting the pair is neither overextended nor in a bearish reversal phase.
Bollinger Bands
Volatility increased mid-session, with the upper band expanding to around 0.3115 and the lower band tightening to 0.3030. Price has since settled in the midband, suggesting a period of consolidation.
Volume & Turnover
Volume spiked around the 0.3100–0.3110 level late in the session, with large blocks of trade around 0.3108 and 0.3115. The notional value of these trades also increased, confirming price action rather than signaling divergence.
Fibonacci Retracements
Applying Fibonacci to the late-night move from 0.3080 to 0.3115, the 61.8% retracement is around 0.3099–0.3102, which aligns with recent support. This zone has seen multiple bids and could serve as a pivot point in the next 24 hours.
The market appears to be building momentum in the 0.3095–0.3105 range, with potential to test 0.3115 if the current support levels hold. A break below 0.3080 may trigger a retest of the 0.3070 level, but caution is warranted due to thin order flow in the 0.3080–0.3090 range.
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