Market Overview for Shiba Inu/Tether (SHIBUSDT)

• SHIBUSDT edged higher in 24 hours, ending near the day's high with strong volume
• Volatility remained compressed, with price clustering near the mid-Bollinger Band
• RSI and MACD showed mixed momentum signals, with no clear overbought/oversold levels
• A bullish engulfing pattern emerged near 1.300e-05, indicating potential short-term reversal
• Turnover increased significantly during early trading hours, suggesting heightened attention

Shiba Inu/Tether (SHIBUSDT) opened at 1.300e-05 on 2025-09-15 at 12:00 ET and closed at 1.304e-05 by 12:00 ET the next day, reaching a high of 1.317e-05 and a low of 1.288e-05. The pair experienced total volume of 398,116,471,999.0 and notional turnover of 65,517,985.44 USD over the 24-hour period.

Structure & Formations

The candlestick pattern over the past 24 hours shows a mixed directional bias, with a key bullish engulfing pattern forming around 1.300e-05 on 2025-09-15. This pattern, where the close candle body completely engulfs the prior bearish candle, suggests a potential short-term reversal. Additionally, a series of doji formed around 1.298e-05 and 1.303e-05, indicating indecision in price movement and a potential consolidation phase. Support is currently forming around 1.298e-05, with resistance near 1.306e-05.

Moving Averages

On the 15-minute chart, SHIBUSDT closed above the 20-period and 50-period moving averages, indicating a potential upward bias in the short term. The 20-period line sits at approximately 1.302e-05, while the 50-period averages around 1.300e-05. On the daily timeframe, the 50-period MA is slightly below 1.299e-05, while the 200-period MA remains near 1.296e-05, suggesting a mixed trend signal between short and long-term perspectives.

MACD & RSI

The 15-minute MACD line crossed above the signal line around 1.301e-05, forming a bullish crossover and confirming the short-term upward momentum. However, the histogram has shown a mixed divergence, with some positive and negative bars, indicating potential volatility. The RSI has fluctuated between 50 and 60, staying well within neutral territory without showing signs of overbought or oversold conditions.

Bollinger Bands

Price action remained within the Bollinger Bands for most of the day, with a slight expansion noted as the high hit 1.317e-05. The mid-Bollinger line (20-period SMA) currently sits at approximately 1.303e-05. The price has shown a tendency to cluster near the midline, indicating a potential continuation of consolidation. A break above the upper band could signal an increase in volatility, while a move below the lower band might trigger bearish follow-through.

Volume & Turnover

Volume remained relatively consistent throughout the day, with spikes occurring between 00:30 and 02:00 ET, coinciding with a sharp upward movement to 1.31e-05. Notional turnover mirrored volume activity but with larger spikes during this period, reaching a high of 66.4 million USD at 01:30 ET. The divergence between price and turnover was minimal, suggesting a largely aligned market sentiment.

Fibonacci Retracements

Using the most recent 15-minute swing high of 1.317e-05 and swing low of 1.298e-05, SHIBUSDT closed near the 38.2% Fibonacci level at 1.306e-05. This suggests a potential continuation of the bullish bias in the short term. On the daily chart, the 50% and 61.8% Fibonacci levels are at 1.297e-05 and 1.296e-05 respectively, suggesting potential support clusters. A retest of these levels could confirm or refute the continuation of the current bullish setup.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions when a bullish engulfing pattern forms near key support levels and the 20-period moving average crosses above the 50-period line. This setup would be confirmed by a positive MACD crossover and an RSI between 40 and 60. A stop-loss could be placed just below the most recent swing low, with a take-profit target at the nearest Fibonacci retracement level (e.g., 1.306e-05 to 1.31e-05). This strategy could be tested on historical data using a 15-minute chart to evaluate its robustness in various volatility environments.

Over the next 24 hours, SHIBUSDT may consolidate near 1.303e-05–1.306e-05 before attempting a breakout or retesting key support. Traders should remain cautious of potential divergence in momentum and volatility spikes, especially if a major news event or broader market shift occurs.