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Summary
• Price surged from $0.0304 to $0.0318 before consolidating near $0.0314.
• Key resistance appears at $0.0315–0.0318, with support at $0.0312–0.0313.
• Volume surged during the rally but waned at higher levels, suggesting possible near-term exhaustion.
Sahara AI/Tether (SAHARAUSDT) opened at $0.0304 on December 12 at 12:00 ET, reached a high of $0.03195, and closed at $0.03142 as of December 13 at 12:00 ET, with a low of $0.03026. Total volume for the 24-hour period was 118,724,248.0, and notional turnover was approximately $3,724,455.00.
The pair formed a bullish breakout above $0.0313, followed by a series of higher highs and lower lows, suggesting a shift into a more bullish bias. A bullish engulfing pattern emerged at $0.0314–0.0316 in the morning hours. A potential short-term support is forming at the 20-period moving average (~$0.0313) and around the 0.618 Fibonacci retracement level of the recent bullish leg (~$0.0313).
On the 5-minute chart, the 20-period MA (~$0.03138) and 50-period MA (~$0.03135) are closely aligned, indicating a consolidation phase. The 50-period MA on the daily chart (~$0.0309) is a key support. The MACD showed a positive crossover and expanding histogram in the late hours, suggesting rising bullish momentum. RSI reached overbought territory (~65–68), hinting at potential near-term pullbacks.
Volatility expanded during the late afternoon and early evening, with price spending much of the session near the upper Bollinger Band. A narrowing of the bands occurred after 06:00 ET, signaling a possible breakout. Current price (~$0.03142) is positioned near the middle band, indicating a transition into a phase of potential consolidation or reversal.
Volume spiked during the rally toward $0.03195, reaching ~1.85 million at 03:15 ET, but dropped significantly in the following hours. Turnover increased in tandem, peaking near $59,000. A divergence in volume during the pullback from $0.03195 to $0.0314 suggests weakening momentum.
The market appears poised to test the $0.0318 resistance zone with potential for a consolidation phase if overbought conditions persist. However, a pullback toward $0.0312–0.0313 may offer a more favorable entry for longs. Investors should remain cautious of overbought RSI readings and watch for volume divergence, which may indicate a reversal is imminent.
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