Market Overview for Terra/Tether (LUNAUSDT)

Summary
• Price declined from 0.0922 to 0.0894 amid heightened bearish momentum.
• Key support at 0.0895 held, but RSI suggests overbought conditions wane.
• Volume surged in early ET hours before declining into the session close.
• Bollinger Bands tightened during consolidation near 0.0915.
• A bullish engulfing pattern appears at 0.0913, hinting at potential reversal.

Terra/Tether (LUNAUSDT) opened at 0.0919 on 2026-01-07 at 12:00 ET, reached a high of 0.0925 and a low of 0.0885, and closed at 0.0894 on 2026-01-08 at 12:00 ET. The total 24-hour volume was approximately 15,520,140.6 and turnover was roughly 1,385,224.3.

Structure & Formations

The 24-hour candlestick pattern displayed a bearish bias, with key resistance at 0.0918 and support at 0.0895. A bullish engulfing pattern emerged around 0.0913, suggesting short-term buyers may be testing the support zone. A long lower shadow between 0.0905 and 0.0916 also indicates rejection of lower prices, though bearish control remains dominant.

Moving Averages

On the 5-minute chart, the 20 and 50-period SMAs showed a steep bearish crossover during the overnight session. The daily chart’s 50, 100, and 200-period SMAs are converging near 0.0908–0.0910, suggesting a potential consolidation period may form around this key cluster.

Momentum and Volatility

The RSI dropped sharply below 30 during the overnight hours, indicating oversold conditions, before recovering to mid-40s by midday. MACD turned negative early in the session, with bearish divergence emerging after 03:00 ET. Bollinger Bands narrowed around 0.0915–0.0920 during midday, signaling a potential breakout.

Volume and Turnover

Volume spiked sharply between 07:00 and 10:00 ET, with the largest bar at 07:15 ET (956,706.7), confirming bearish sentiment during a significant price drop. Turnover aligned with volume, peaking at 956,706.7 at the same time. However, volume declined after 10:00 ET, suggesting waning conviction in the downward trend.

Fibonacci Retracements

The 61.8% Fibonacci level on the 5-minute chart sat at 0.0913, which coincided with a bullish engulfing pattern, indicating a potential reversal point. Daily retracements showed 0.0908 as a critical psychological level, now in proximity to current price action, suggesting a possible bounce or continuation depending on volume dynamics.

The price appears to be approaching a key decision point near 0.0895–0.0908. If support holds, a retest of 0.0913–0.0918 may occur. However, a breakdown below 0.0895 could trigger a deeper correction. Investors should watch for divergences in volume and RSI in the next 24 hours to assess the strength of this critical support level.