Market Overview for Solana/Tether (SOLUSDT): 24-Hour Technical Breakdown

• Solana/Tether (SOLUSDT) traded in a bullish consolidation pattern, forming a higher high and higher low over the 24-hour period.
• Momentum accelerated during the NY day session before a pullback emerged post-peak at $205.52.
• Volatility expanded as price tested key resistance levels, while volume remained supportive of the uptrend.
• RSI showed overbought conditions at peak, and Bollinger Bands reflected moderate price compression.
• A bullish continuation may face early resistance near $204.35, while support appears to hold at $201.72.

Price and Volume Performance

Over the last 24 hours, Solana/Tether (SOLUSDT) opened at $196.29 on 2025-09-26 at 12:00 ET, peaked at $205.52, and closed at $201.71 at 12:00 ET the following day. Total traded volume reached approximately 1,823,379.5 units, with total turnover amounting to $370,897,872. The price action suggests strong institutional accumulation during the NY and London sessions, particularly between 19:00 and 22:00 ET, followed by a consolidation phase and a minor pullback.

Structure & Formations

The 15-minute chart reveals a strong bullish bias characterized by a higher high and higher low structure. A key resistance level is forming at $204.35 and $205.17, which was tested twice with a partial rejection during the post-22:00 ET session. A bearish engulfing pattern appeared at $205.52 (the daily high), indicating potential profit-taking or short-term reversal. Support levels at $201.72 and $200.19 appear to have held during the consolidation phase, and a bullish hammer pattern at $200.28 suggests buyers stepping in at lower levels.

Moving Averages, MACD & RSI

The 20-period and 50-period moving averages on the 15-minute chart both remained in an ascending trend, reinforcing the bullish bias. The MACD line crossed above the signal line during the 21:00–22:30 ET window, signaling a bullish divergence. However, the RSI reached overbought territory above 70 during the peak at $205.52, indicating caution for potential short-term corrections. On the daily chart, the 50-day moving average is bullish, but the 200-day line remains neutral, suggesting the longer-term uptrend could continue, provided support holds.

Backtest Hypothesis

Using a strategy that combines RSI divergence and a bullish engulfing pattern on the 15-minute timeframe, one could potentially enter a long position when price rebounds off key support levels (e.g., $201.72) with RSI below 40 and a confirmed bullish engulfing candle. A stop-loss could be placed below the next lower swing low (~$200.28) with a take-profit target at $204.35–$205.17. A backtest of this pattern over the last 24 hours would reveal a high probability of a short-to-mid term continuation of the bullish trend, assuming volume supports the move.