Market Overview: SafePal/Tether (SFPUSDT) 24-Hour Performance

• Price surged 4.7% on rising volume amid a key breakout above prior resistance
• MACD turned positive and RSI approached overbought territory near 68
• Volatility expanded with Bollinger Bands, signaling aggressive buying
• Volume spiked to 56004 at day’s close, aligning with strong price action
• Fibonacci retracement at 0.5265 acted as dynamic support, now potential pivot

The SafePal/Tether (SFPUSDT) pair opened at 0.5021 on October 2, 2025 (12:00 ET – 1) and closed at 0.5282 by 12:00 ET on October 3, 2025, reaching a high of 0.5282 and a low of 0.5021. The total 24-hour trading volume reached approximately 1.76 million contracts, with a notional turnover of around $932,894. The pair exhibited a strong bull trend, marked by a 4.7% intraday gain and increasing participation from longs.

Structure & Formations

Price action revealed a strong bullish reversal from a key support level of 0.5021, with a series of engulfing patterns confirming the breakout. A significant 50-minute bullish engulfing candle formed around 17:30 ET on October 2, confirming the shift in sentiment. A doji candle was observed near 0.5161, indicating indecision and a consolidation phase, but buyers took control shortly after. Resistance levels at 0.525 and 0.528 acted as dynamic ceilings before the final close.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA, forming a golden cross and reinforcing the bullish momentum. The daily chart showed the 50-period MA just below the 100-period MA, suggesting a longer-term bullish trend with potential for continuation if support levels remain intact. The 200-period MA, at 0.5135, remained well below the current price, indicating a strong divergence from the long-term trend.

MACD & RSI

The MACD line turned positive with a strong histogram expansion, confirming the acceleration in bullish momentum. The signal line crossed above the zero line, reinforcing the view that buying pressure was intensifying. RSI reached 68, nearing overbought territory, suggesting that a short-term pullback might be due. However, the RSI divergence did not show signs of weakening as volume supported the price action.

Bollinger Bands

Volatility expanded as the price widened the Bollinger Bands, reaching a daily high of 0.5282—just above the upper band. The mid-band hovered around 0.518, and the lower band sat at 0.5085. Price closed above the upper band, suggesting strong conviction in the bullish move. A contraction in the bands was observed earlier in the session, indicating a possible reversal setup.

Volume & Turnover

Volume spiked at the close with the 16:00 ET candle showing 56004 contracts traded, the highest of the day. This coincided with a sharp push above 0.5282 and reinforced the strength of the move. Notional turnover increased in tandem with the price rise, showing a lack of divergence and validating the bullish narrative. The volume profile suggested increasing participation from larger buyers in the final hour.

Fibonacci Retracements

A recent swing low at 0.5021 and high at 0.5282 were used to establish Fibonacci levels. The 38.2% retracement level at 0.5183 acted as a key support, which was tested and held. The 61.8% level at 0.5265 came into play later in the session, with price bouncing off it before surging to the close. This suggests that traders are paying attention to Fibonacci levels as strategic points for positioning.

Backtest Hypothesis

Given the strong golden cross on the 15-minute chart and the breakout above multiple resistance levels, a potential backtesting strategy could involve entering long positions at the close of the 17:30 ET engulfing candle. A stop-loss could be placed below the 0.5211 level, with a take-profit target at the 0.5282 high or the next Fibonacci level at 0.5321. This approach would aim to capture the continuation of the bullish momentum while managing risk through well-defined levels based on support and resistance, volume, and momentum indicators.