Market Overview for Test/Tether (TSTUSDT) on 2025-09-23

• TSTUSDT opened at 0.03446 and closed at 0.03597, with a high of 0.03717 and a low of 0.03411.
• Price surged past key resistance levels, supported by strong volume and rising momentum in RSI.
• Volatility expanded through Bollinger Bands, with price trending near the upper band.
• A bullish engulfing pattern formed mid-session, signaling a potential continuation higher.
• Notional turnover increased by 33% in the final 6 hours, aligning with price direction.

Test/Tether (TSTUSDT) opened at 0.03446 at 12:00 ET−1 and closed at 0.03597 at 12:00 ET on 2025-09-23, reaching a high of 0.03717 and a low of 0.03411. Total volume across 24 hours was 90,295,174.58, while notional turnover totaled approximately $3,294,405. The price action shows a strong bear-to-bull transition with increasing buying pressure and momentum.

Structure & Formations

Key resistance levels were tested and overcome during the session, particularly at 0.0360 and 0.0370, with a notable bullish engulfing pattern forming around 04:00 ET. This pattern suggests continued upward bias in the near term. Price also hovered near critical support at 0.0345–0.0350 for a time before surging past it. A doji formed near 0.0355, indicating indecision but ultimately giving way to stronger bullish follow-through.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended upward, with price holding above both for most of the session. The 50-period line crossed above the 20-period line near the open, reinforcing the bullish signal. On the daily chart, the 50/100/200 lines showed a moderate uptrend, suggesting alignment with the short-term rally and a potential continuation.

MACD & RSI

The MACD showed a positive crossover early in the session, with the histogram expanding as bullish momentum picked up. RSI moved into overbought territory (above 65) by late afternoon but did not show signs of immediate reversal. This suggests strong short-term conviction in the rally, although a pullback into neutral to overbought range could occur over the next 24 hours.

Bollinger Bands

Volatility increased significantly during the session, expanding the Bollinger Bands. Price spent much of the latter half of the 24-hour period near or above the upper band, indicating strong upward momentum and potential for a breakout or consolidation near the top of the channel.

Volume & Turnover

Volume spiked notably in the 6–8-hour window, aligning with the price breakout above 0.0360. Turnover followed the same trend, with no divergence observed between price and volume, suggesting genuine conviction. The final candle before the close showed strong buying pressure, with volume and turnover confirming the move toward the session high.

Fibonacci Retracements

Key Fibonacci levels from the 0.0341–0.03717 swing were tested and exceeded. The 61.8% retracement level at 0.0361 was surpassed with relative ease, suggesting further potential toward the 78.6% and possibly the 100% extension level. On the daily chart, the 38.2% and 61.8% levels were both above current price, indicating a possible consolidation or correction after the recent strength.

Backtest Hypothesis

Given the strong momentum and structure of the move, a potential backtest could be constructed around entries following a bullish engulfing pattern and a closing above the 20-period MA. A stop-loss could be placed below the 61.8% Fibonacci level (0.0361), with a target near the 78.6% level (0.0370). This setup would aim to capture continuation moves in a trending environment, using volume and RSI as filters for confirmation. The MACD histogram expansion during the rally provides a favorable entry signal for such a strategy.