Summary
• Price surged to $0.01584 before consolidating near $0.01563 amid heavy volume.
• Momentum suggests potential for a short-term rebound off a 61.8% Fibonacci level.
• Volatility dipped late morning, signaling possible consolidation ahead.
• Volume diverged from price during late-night sell-offs, hinting at potential follow-through.
• A bullish engulfing pattern emerged after the $0.01561 support held during early AM trading.
At 12:00 ET on 2025-12-21, Test/Tether (TSTUSDT) opened at $0.01541, reached a high of $0.01584, dipped to a low of $0.01529, and closed at $0.01563. Total volume was 64,611,199.8 and turnover was approximately $996,422.
Structure & Formations
The pair rallied from a key support of $0.01561 during the early morning, forming a bullish engulfing pattern that could indicate a short-term reversal.
A 61.8% Fibonacci retracement of the 5-minute swing lies near $0.0157, which may offer a near-term target for buyers. Resistance levels appear at $0.01578 and $0.01584, while $0.01561 and $0.01556 are strong supports based on clustered lows and consolidation.
Indicators
The 20- and 50-period moving averages on the 5-minute chart suggest a bullish tilt as price moved above both. MACD showed positive divergence in the morning before a sell-off, suggesting weakening bearish momentum. RSI dipped into oversold territory early, then rebounded into neutral to slightly overbought territory, hinting at possible exhaustion in the rally.
Volatility and Turnover
Bollinger Bands showed a tightening mid-morning, followed by a break higher as volatility expanded. Price remained inside the upper band during the morning surge, but pulled back toward the middle band in the afternoon. Notional turnover spiked during the $0.01584 high and again during the $0.01563 consolidation, suggesting key participation.
Forward Outlook
The next 24 hours could see a test of the $0.0157 level as bulls attempt to break past recent overhead resistance. A break above this with rising volume could open the door to $0.01584. However, a failure to hold above $0.01561 may trigger further consolidation or a pullback toward $0.01555. Investors should remain cautious for potential divergences in volume and momentum indicators.
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