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Summary
• Price formed a bullish engulfing pattern on the 5-min chart after testing key support at 0.3573.
• RSI showed oversold conditions in early trading but failed to confirm a strong rebound.
• Volatility expanded mid-day as volume surged past 60,000 with a high of 0.3728.
• Bollinger Bands widened, indicating increased short-term uncertainty in direction.
• 50-period MA on the 5-min chart crossed above the 20-period MA, hinting at a potential short-term upturn.
SafePal/Tether (SFPUSDT) opened at 0.3590 on 2026-01-12 at 12:00 ET, reached a high of 0.3728, a low of 0.3552, and closed at 0.3699 on 2026-01-13 at 12:00 ET. Total 24-hour volume was 673,870.0 units, with a notional turnover of $249,710.17.
Price found strong support at 0.3573, where a bullish engulfing pattern developed. This level coincided with the 61.8% Fibonacci retracement of the prior 5-min upswing. Later in the session, price broke above a prior high of 0.3685, setting up a potential test of the 0.3728 level as the next resistance.

The 20-period and 50-period moving averages on the 5-min chart crossed over mid-day, suggesting a short-term upward shift. On the daily chart, the 50-period MA is below the 200-period MA, indicating a bearish longer-term trend, although recent daily candle closes have shown some retesting of key 50-period support.
Relative Strength Index (RSI) on the 5-min chart reached oversold territory early in the morning, but price failed to break above 0.3600 for several hours. Momentum reversed sharply after midday, with a breakout above 0.3700. Bollinger Bands expanded after the 14:30 ET candle, signaling increased volatility and uncertainty in price direction.
Volume spiked dramatically at 14:30 ET with the largest 5-min candle of the session (67,387 units), coinciding with a breakout above 0.3700. Notional turnover surged in parallel, confirming the strength of the move. Divergence between price and volume was minimal, suggesting the move was broadly supported.
Key retracement levels were tested on both the 5-min and daily charts. The 0.3573 support aligned with the 61.8% retracement of an earlier 5-min upswing, while the 0.3624–0.3646 range aligned with the 50%–61.8% levels of the daily swing.
With momentum favoring a short-term upturn and key resistance at 0.3728 in play, traders may watch for a possible pullback or consolidation. A break below 0.3646 could reignite bearish pressure, while a sustained close above 0.3728 may signal a reversal in the daily trend. Investors should remain cautious given the high volatility and uncertain continuation.
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