Market Overview: Shiba Inu/Tether USDt (SHIBUSDT) 24-Hour Summary

• Price opened at $0.00001307, reached a high of $0.00001317, and closed at $0.00001307 in 24 hours.
• Key support at $0.00001301 held, while resistance near $0.00001317 faced rejection pressure.
• Moderate volatility observed, with price consolidating within a narrowing range near the session’s end.
• Volume spiked during early bearish moves but remained mixed in the final hours.
• RSI suggested overbought conditions briefly but failed to trigger sustained breakouts.

Market Performance and Initial Observations

Shiba Inu/Tether USDt (SHIBUSDT) opened at $0.00001307 on 2025-09-10 at 12:00 ET, reached a high of $0.00001317, touched a low of $0.00001285, and closed at $0.00001307 at 12:00 ET the next day. Total traded volume stood at 336,927,170,267.0 SHIB, with a notional turnover of $42,926,950,564.97 over the 24-hour period. The pair showed moderate volatility and consolidation in the final hours.

Structure and Candlestick Patterns

Price action revealed a series of bearish and bullish 15-minute-range battles with no single directional bias dominating. A notable bearish rejection was observed in the early part of the session, where price fell below $0.00001301 and bounced back, forming a potential support level. Later in the session, a strong bullish engulfing pattern emerged around $0.00001303–$0.00001307, suggesting buyers regained some control. A long lower shadow in the final candle hinted at a possible reversal, but volume failed to confirm the move.

Moving Averages and Momentum

Short-term moving averages (20/50 periods) showed a slight bullish bias by the close, with the 50-period line holding above the 20-period line for much of the session. However, longer-term averages (daily 50/100/200) remained neutral to slightly bearish. Price hovered above the 50-period line in the final hours, indicating short-term bullish momentum but no strong conviction.

MACD remained in positive territory for most of the session, showing modest bullish momentum, but the histogram flattened as the market closed in consolidation. RSI briefly hit overbought conditions in the late afternoon, reaching 61–64, but buyers failed to push the price beyond $0.00001317. Oversold levels were not reached at any point.

Bollinger Bands and Volatility Trends

Volatility remained moderate throughout the session, with price oscillating within a relatively narrow Bollinger Band range. A slight expansion occurred in the early hours following a sharp drop to $0.00001289, but the upper band was not tested in a meaningful way. By the final hours, price moved closer to the middle band, suggesting a potential consolidation or reversal phase.

Volume and Turnover Analysis

Turnover peaked at $1.5 billion around $0.00001301 in early afternoon, coinciding with a bearish breakdown that failed to hold. The most recent hourly turnover remained in the $400–600 million range, suggesting reduced urgency. A divergence between volume and price was observed in the last two hours, where volume declined while price attempted a minor rally. This may indicate weakening bullish conviction.

Fibonacci Retracements

Applying Fibonacci retracements to the key swing from $0.00001285 to $0.00001317, the 38.2% level ($0.00001303) coincided with the final bullish bounce and appeared to hold as a critical support. The 61.8% level ($0.00001297) also acted as a minor floor earlier in the session. On the daily timeframe, retracements from the recent $0.00001285 low to the $0.00001317 high suggest $0.00001303–$0.00001307 as a consolidation zone.

Backtest Hypothesis

The backtest strategy described focuses on using a combination of RSI and volume divergence to identify potential turning points in SHIBUSDT’s price action. Specifically, it seeks to enter long positions when RSI dips into oversold territory (<30) and volume spikes, indicating accumulation. A short bias is considered when RSI rises into overbought (>70) and volume diverges, suggesting distribution. Given today’s data, the strategy would not have triggered a long entry due to RSI never reaching oversold levels, but the failed overbought breakout in the afternoon might have signaled a short entry. If applied over a historical sample of similar sessions, this strategy could potentially capture momentum shifts in low-volatility environments.