Market Overview: Tensor/Tether (TNSRUSDT) – 24-Hour Technical Breakdown

• Tensor/Tether (TNSRUSDT) closed lower, with price dipping below critical support levels after a strong bearish reversal in the 15-minute chart.
• Momentum indicators show oversold territory, but bearish continuation patterns and volume spikes suggest further downside.
• Volatility expanded sharply in early hours, with price breaking below the 20-period moving average, signaling a shift in trend.
• Bollinger Bands widened after the breakout, while RSI suggests exhaustion in the short-term bear move.
• Turnover surged during the sell-off but has since stabilized, hinting at possible accumulation at lower levels.

At 12:00 ET on October 29, Tensor/Tether (TNSRUSDT) opened at $0.0626, reached a high of $0.0633, and closed at $0.0589 at 12:00 ET the following day, with a low of $0.0574. Total volume across the 24-hour window was 9,358,400.7 units, and notional turnover reached approximately $534,000. The price trended sharply lower in the first half of the 24-hour window, with a key bearish reversal forming around October 28, 19:30 ET.

Over the 15-minute chart, Tensor/Tether demonstrated a bearish breakdown from a consolidation pattern. Price initially traded in a narrow range between $0.0624 and $0.0633 before breaking decisively lower. A bearish engulfing pattern formed on October 28, 19:30 ET, confirming the shift in sentiment. Further bearish continuation patterns emerged in the following hours, including long lower shadows and short-bodied candles, suggesting strong selling pressure. The price has since held below key resistance levels, now trading near the lower end of its range.

Moving averages reflect a bearish alignment across multiple timeframes. The 20-period MA on the 15-minute chart dipped below the 50-period MA, indicating a short-term bearish bias. Daily moving averages also show weakness, with the 50-period MA breaking below the 200-period MA, reinforcing the bearish sentiment. Price remains below the 50-period daily MA, suggesting further downside could follow if support levels fail.

Relative Strength Index (RSI) reached oversold territory around 10:00 ET on October 29, with a value of approximately 28, but failed to produce a meaningful bounce, indicating bearish continuation. The MACD crossed below the signal line with a bearish divergence, amplifying the likelihood of further declines. Bollinger Bands expanded after the breakout, with price testing the lower band twice within the 24-hour window, suggesting increasing volatility and risk of a retest of key support levels.

Backtest Hypothesis
Given the bearish engulfing pattern observed during the 24-hour period, a backtest based on this formation could be a valuable addition to the analysis. The bearish engulfing candle formed on October 28, 19:30 ET, with a clear reversal of bullish momentum. A potential short entry at the open of the following day, with a target exit at the close, aligns with typical intraday strategies. However, due to an issue with the ticker symbol “HOLD.P” in the provided backtest request, further confirmation is needed to proceed. Once the correct ticker is confirmed and historical pattern data is retrieved, the strategy can be evaluated using real data from 2022 to the present.