Market Overview for Spell Token (SPELLUSDT)

• Price declined from $0.0005842 to $0.0005115, a 12.4% drop, with bearish momentum confirmed by RSI and volume.
• Key support emerged at $0.000510–0.000515, as seen in a potential bullish reversal pattern around 09:00–10:00 ET.
• MACD turned bearish, with negative divergence and a bearish crossover suggesting further downside risk.
• Bollinger Bands tightened mid-session, followed by a breakout to the downside, signaling increased volatility.
• Volume spiked during the $0.000520–0.000550 range, indicating accumulation or panic selling.

Spell Token (SPELLUSDT) opened at $0.000536 on 2025-08-24 at 12:00 ET and closed at $0.0005115 on 2025-08-25 at 12:00 ET, with a high of $0.0005842 and a low of $0.000510. Total volume was 4,659,190,580 and turnover reached $2,479.12 over 24 hours.

Structure & Formations

The candlestick pattern revealed a sharp bearish trend, with a potential bearish engulfing pattern forming around 17:00–18:00 ET and a bearish harami at the 08:00–09:00 ET hour. Key support emerged at $0.000510–0.000515 after a consolidation phase in the early hours of 2025-08-25, marked by a potential bullish reversal candle. Resistance levels are found at $0.000540–0.000550 and $0.000560–0.000570, with the former showing multiple failed attempts to retest.

Moving Averages

On the 15-minute chart, the price closed below both 20-EMA and 50-EMA, reinforcing bearish bias. On the daily timeframe, the 50- and 100-day moving averages are not available, but the 200-day appears to be above the current price level, indicating long-term bearish divergence.

MACD & RSI

The MACD turned negative midday on 2025-08-24 and remained bearish, with a bearish crossover confirmed on 2025-08-25 morning. The histogram displayed a broadening bearish momentum during the decline. The RSI dropped below 30 early on 2025-08-25 and remained in oversold territory, suggesting potential for a short-term bounce, though bearish momentum may persist.

Bollinger Bands

Volatility contracted in the middle of the session on 2025-08-24 before expanding sharply with the price breaking below the lower band around 02:00–03:00 ET. The price remained near the lower band for most of the session on 2025-08-25, signaling continued bearish pressure.

Volume & Turnover

Volume increased significantly during the 2025-08-24 17:00–20:00 ET window as the price moved from $0.000560 to $0.000530. However, a divergence appeared later as volume decreased during the final leg down to $0.000510. Turnover spiked during the 08:00–12:00 ET window, aligning with the price breaking key support levels.

Fibonacci Retracements

The 15-minute chart shows the price currently resting near the 61.8% Fib level of the $0.000510–0.0005842 move, which may act as a temporary support. On the daily chart, the 38.2% retest appears to have failed around $0.000540, with the price continuing its descent toward key psychological support levels.

While the price may find temporary support near $0.000510–0.000515 and see a brief bounce in the near term, bearish momentum and lack of conviction in price-volume action suggest further downside could follow in the next 24 hours. Investors should remain cautious, as volatility may continue and key support levels could break, increasing risk for short-term traders.