Market Overview: Spark/Tether (SPKUSDT) – 24-Hour Analysis (2025-11-01)

• Spark/Tether (SPKUSDT) experienced a sharp bullish reversal, rising from a 24-hour low of $0.034719 to a high of $0.036811.
• Key resistance was tested at $0.035785 and $0.036263, with price consolidating above these levels by the final candle.
• Strong accumulation is evident in the final 6 hours, with volume surging to 658,016 contracts at the close.
• Momentum picked up on the RSI and MACD, suggesting continuation potential if the $0.036503 level holds.
• Volatility expanded through the day, with prices closing near the upper Bollinger Band.

The 24-hour period for Spark/Tether (SPKUSDT) began at $0.034719 and closed at $0.036394, with a high of $0.036811 and a low of $0.034719. Total volume amounted to 24.8 million contracts, while notional turnover reached $8.65 million. Price action reflects a strong reversal from early selling pressure to late-session accumulation, signaling potential bullish continuation.

Structure & Formations

Price action began with a bearish breakdown from $0.035634 to $0.034763 but reversed sharply after the 19:00–19:15 ET candle. A series of bullish engulfing patterns emerged between 21:00 and 07:30 ET, particularly between $0.0354 and $0.03613. Key support levels include $0.035288 and $0.035634, while resistance is seen at $0.036155, $0.036503, and $0.036811.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart intersected multiple times during the day, reflecting increased volatility. Price closed above both the 20 and 50-period MAs, suggesting short-term strength. On the daily timeframe, the 50-period MA is currently at $0.0359, and SPKUSDT closed above this level, indicating bullish alignment.

MACD & RSI

The MACD turned positive after 19:45 ET, confirming the shift in momentum. RSI rose from oversold levels below 30 to mid-50s by the end of the session, indicating a healthy recovery. Both indicators suggest SPKUSDT could extend its gains into the next session, provided volume supports the move.

Bollinger Bands

Volatility expanded through the day, with prices reaching the upper Bollinger Band between $0.0362 and $0.0368. This suggests strong upside participation. The band width widened after 04:00 ET, confirming a breakout period. Prices have remained within the bands, showing that the move has not yet entered a high-volatility phase.

Volume & Turnover

Volume surged during the final 6 hours, with the 11:30–12:00 ET candle alone accounting for 637,059 contracts. Notional turnover also rose sharply during this period. A divergence between price and volume was observed in the early hours, but this was resolved as volume increased with the price rally, confirming bullish strength.

Fibonacci Retracements

Applying Fibonacci to the key swing from $0.034719 to $0.036811, the 50% and 61.8% levels are at $0.035765 and $0.035793, respectively. Price has already moved above these levels, with the 78.6% retest at $0.036235. A break above $0.036503 could target the 100% extension at $0.036811 or beyond.

Backtest Hypothesis

The provided backtest strategy highlights the importance of confirming candlestick patterns such as the Bullish Engulfing. While the automated scan failed, the observed price action between 21:00–21:30 ET and 05:30–06:00 ET shows clear signs of this formation. If the strategy were applied manually using these dates, it could serve as a viable short-term trading hypothesis. A 24-hour holding period from these entry points appears to align well with the technical indicators (MACD and RSI) and volume confirmation, making it a testable strategy.