Market Overview: Spell Token/Tether 24-Hour Analysis

Summary
• Price drifted lower after midday ET, breaking below key support at 0.00024.
• Volume surged post-18:30 ET but failed to confirm bullish momentum.
• RSI and MACD show bearish divergence, suggesting oversold conditions may persist.
• Bollinger Bands widened as volatility increased during the overnight session.
• Fibonacci levels at 0.000236 and 0.000238 appear to act as short-term barriers.

Spell Token/Tether (SPELLUSDT) opened at 0.0002427 on 2025-12-17 at 12:00 ET, hit a high of 0.0002447, fell to a low of 0.0002342, and closed at 0.0002373 at 12:00 ET the following day. Total 24-hour volume amounted to 1,096,764,619, while notional turnover reached $268,900.

Structure & Moving Averages

Price action broke below the 50-period and 20-period moving averages on the 5-minute chart in the early hours of 2025-12-18, confirming bearish momentum. A key support level at 0.00024 was pierced around 18:30 ET, opening the door to testing 0.000236. On the daily chart, the 50-period MA sits near 0.0002415, which may now serve as a dynamic resistance.

Momentum & Overbought/Oversold Conditions

Relative Strength Index (RSI) dropped below 30 in the early morning session, signaling

oversold conditions, but has yet to see a strong reversal. MACD lines crossed below the signal line, reinforcing the bearish bias. Divergence between price and both indicators suggests a potential pause or retest of support could occur in the near term.

Volatility and Bollinger Bands

Bollinger Bands expanded in the overnight session, indicating heightened volatility. Price found itself at the lower band around 05:30 ET and then rebounded, but momentum failed to carry it above the midline. The narrowing of the bands in the early afternoon preceded a sharp decline, consistent with a bearish breakout pattern.

Volume and Turnover Dynamics

Volume surged above average levels after 18:30 ET, coinciding with the breakdown of key support. Turnover was also elevated during this period, but price failed to hold the 0.00024 level, suggesting weakness in the move. A divergence between rising volume and declining price hints at potential short-term uncertainty.

Fibonacci Retracements

Fibonacci retracement levels on the 5-minute chart showed 61.8% at 0.000236 and 38.2% at 0.000239 as key levels of interest. On the daily chart, the 61.8% retracement of the recent rally sits near 0.000237–0.000238, a zone where price has stalled multiple times.

Over the next 24 hours, a retest of 0.000236 is likely if the bearish momentum continues, though a rebound could occur if buyers step in near key Fibonacci levels. Investors should remain cautious of further breakdowns or false bounces in a volatile environment.