Market Overview for Shiba Inu/Tether (SHIBUSDT) on 2025-09-23

• SHIBUSDT opened at $0.00001205 and closed at $0.00001223, with a high of $0.00001227 and a low of $0.00001189 over 24 hours.
• A bullish rebound emerged after a brief bearish correction, with price retesting and surpassing key intraday levels.
• Volume spiked in late-night hours, with turnover confirming upward momentum in the final hours.
• RSI showed moderate overbought conditions while MACD crossed into positive territory, signaling sustained buying pressure.
• Price remained above the 20-period MA on the 15-minute chart and is testing the 50-period MA on the daily chart.

Opening Summary and Key Metrics

At 12:00 ET–1 on 2025-09-22, SHIBUSDT opened at $0.00001205 and closed at $0.00001223 at 12:00 ET on 2025-09-23. The 24-hour price range was $0.00001189 to $0.00001227. Total volume traded was 507,585,414,343 SHIB, with a notional turnover of approximately $6,134,799. The pair showed a modest but structurally consistent upward drift, particularly in the last 12 hours of the reporting period.

Structure & Formations

Key support levels were identified at $0.00001189 and $0.00001203, where the price found multiple bids before breaking higher. Resistance levels include $0.00001218 and $0.00001227, with the latter briefly touched but not breached. A bullish engulfing pattern emerged around 20:30 ET–1, followed by a strong green candle at 03:30 ET that marked the most significant move of the session. A doji formed at 20:00 ET–1, indicating indecision before the subsequent rally.

Moving Averages and MACD

On the 15-minute chart, SHIBUSDT has stayed above the 20-period MA, with the 50-period MA acting as a strong support zone around $0.00001208–$0.00001210. On the daily chart, the price is now crossing above the 50-period MA, suggesting a potential continuation of the bullish trend. The 12-26 MACD line crossed above the signal line at 04:00 ET, confirming a shift in momentum. The histogram has been expanding since the 06:45 ET bar, indicating increased bullish pressure.

RSI and Bollinger Bands

Relative strength has pushed the RSI to 61.5 on the daily chart, indicating overbought territory but not extreme. Intraday RSI values peaked at 67–69 during the final hours of the 24-hour period. Bollinger Bands showed a moderate expansion after 03:00 ET, with the price rising above the upper band briefly around 04:00 ET. This suggests a breakout from a consolidation phase and increased volatility. Price remains above the 20-period moving average within the upper half of the band.

Volume and Turnover Divergence

Volume surged significantly in the last 6–8 hours of the 24-hour period, with the largest volume bar at 03:30 ET–1, corresponding to a sharp $0.00000086 move. Notional turnover mirrored this increase, peaking at $188,232 in that bar. Earlier bearish volume bars from 19:45 to 22:45 ET–1 showed divergences with price, as the selling pressure waned without a corresponding drop in price. This divergence suggests a potential shift in sentiment during that period.

Fibonacci Retracements

Applying Fibonacci retracement levels to the intraday low at $0.00001189 and the high at $0.00001227, SHIBUSDT is currently at the 61.8% level (~$0.00001213). This level is critical for determining whether the bullish momentum will hold or if a pullback is imminent. On the daily chart, the 38.2% retracement level at $0.00001208 has acted as a support zone, with the 50-day low at $0.00001185 marking the final line of defense.

Backtest Hypothesis

The described backtesting strategy relies on a combination of RSI divergence, volume confirmation, and moving average crossovers to generate entry signals. Given the recent RSI overbought conditions and the volume divergence observed earlier in the 24-hour window, this strategy may have flagged a sell opportunity before the rebound. However, the subsequent MACD crossover and bullish engulfing pattern would have likely triggered a reversal buy signal after the 20:30 ET–1 bar. A backtest would need to include a stop-loss below the 20-period MA and a take-profit near the 61.8% Fibonacci level to manage risk effectively.