Market Overview for Test/Tether (TSTUSDT) – 2025-11-06

Summary
• Test/Tether (TSTUSDT) closed near its 24-hour low after a morning rally failed to hold.
• Volume increased sharply during the Asian session, but price momentum weakened afterward.
• RSI shows overbought conditions in the morning, but divergence emerged by the afternoon.

Test/Tether (TSTUSDT) opened at 0.01786 and reached a high of 0.01882 before closing at 0.01804, below its 24-hour low of 0.01771. Total volume across the 24-hour period was 160,217,687.5, with a turnover of $2,846,147.70.

Price action showed a strong bullish push during the early Asian session, forming a strong white candle at 17:45 ET that reached a 0.01882 high. However, this move was met with resistance, and a bearish engulfing pattern formed at the session high. The price then spent the remainder of the day consolidating and falling below key 15-minute moving averages, especially the 20-period.

Momentum indicators reflected mixed signals. The RSI briefly entered overbought territory in the morning before diverging with price in the afternoon, hinting at weakening bullish conviction. MACD showed a bullish crossover early on but failed to sustain positive territory, suggesting fading momentum. Volatility expanded during the Asian session, with price moving above the upper Bollinger Band for a short period before retreating.

Fibonacci retracement levels on the morning rally highlighted key psychological levels at 0.01867 (61.8%) and 0.01846 (38.2%), both of which acted as resistance. Price closed near the 0.01807 level, which is a critical support zone.

Backtest Hypothesis
A potential backtesting strategy for Test/Tether (TSTUSDT) could involve entry on RSI crossover above 70, with a target of 5% profit and a stop-loss of -5%. This would have captured the morning rally but may have exited early due to the divergence in the afternoon. The test would evaluate the frequency and success of these trades across multiple cycles, factoring in transaction costs and slippage.