Market Overview for Spell Token/Tether (SPELLUSDT) on 2025-09-26

• • •

• Price declined from 0.0004401 to 0.0004323 amid heavy selling pressure.
• RSI and MACD signaled weakening momentum with bearish divergence.
• Volatility remained low, with price inside Bollinger Bands on 15-min chart.
• Volume surged during the 17:00–18:00 ET decline but faded afterward.
• 0.000435–0.000437 level appears as near-term resistance for buyers.

At 12:00 ET on 2025-09-26, Spell Token/Tether (SPELLUSDT) opened at 0.0004386, hit a high of 0.0004401, and closed at 0.0004326 after trading to a low of 0.000427. Total volume for the 24-hour window was 1,042,585,492.0 and total turnover was approximately $453,331. The pair has shown a bearish bias with moderate volatility.

Structure & Formations

Price action over the past 24 hours formed a descending triangle pattern, with resistance near 0.0004401 and support consolidating around 0.000432–0.000433. A bearish engulfing pattern was visible on the 17:00–17:15 ET candle, confirming the breakdown from a prior consolidation. Several doji candles appeared between 08:00–09:00 and 12:00–13:00 ET, indicating indecision and potential exhaustion on both sides.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were in a bearish crossover, reinforcing downward momentum. The 50-period line was trading below both the 100 and 200-period averages on the daily chart, which suggests a continuation of the bearish bias for now. Price has remained below all key MAs on the 15-minute chart.

MACD & RSI

MACD crossed below zero in the early hours of 09:00–10:00 ET and has remained in negative territory, with a bearish histogram. RSI has moved into oversold territory multiple times, dipping as low as 28.6, indicating potential for a short-term bounce. However, RSI and price have shown divergence during the 14:00–16:00 ET period, signaling a potential loss of bearish strength.

Bollinger Bands

Volatility has been relatively low, with price mostly staying within the Bollinger Bands. A minor contraction occurred during the 09:00–10:00 ET period, followed by a mild expansion as prices broke the lower band. The current price sits near the lower band, suggesting a possible mean reversion toward the 0.000435–0.000437 zone.

Volume & Turnover

Volume spiked during the key breakdown between 17:00–18:00 ET, confirming the bearish move. Turnover followed the same pattern, peaking at that time. However, since 09:00–10:00 ET, volume and turnover have both declined, suggesting a slowdown in conviction among sellers. Divergence appears as price continues lower while volume wanes.

Fibonacci Retracements

Applying Fibonacci to the 17:00–23:00 ET decline, the 61.8% retracement level sits near 0.000435, which coincides with a potential support-turned-resistance level for buyers. The 38.2% level is at 0.000437, which may act as a near-term resistance. On the daily chart, key Fibonacci levels from the recent high of 0.0004401 suggest a 61.8% retracement near 0.000431.

Backtest Hypothesis

A potential backtest strategy for this pair might focus on identifying bearish engulfing patterns during strong volume spikes, combined with RSI in overbought territory and MACD crossing below zero. A sell entry could be triggered when price breaks the low of the engulfing candle with confirmation from a close below a 50-period MA. Stops could be placed above the high of the pattern, while targets may be set at the 61.8% and 100% Fibonacci levels. The 15-minute chart offers high-frequency opportunities for such a strategy, particularly during periods of volatility expansion.