Market Overview for Test/Tether (TSTUSDT): 24-Hour Breakdown and Momentum Signal

• TSTUSDT climbed from 0.02972 to 0.03083 in 24h, forming bullish momentum with strong volume in the late ET afternoon.
• RSI and MACD showed positive divergence, signaling potential for continuation.
• Price remains within a tight consolidation range before a late ET breakout.
• Bollinger Bands expanded post-noon, indicating increased volatility and trend potential.
• Volume surged in the 17:00–19:00 ET window, aligning with price highs.

TSTUSDT opened at 0.02972 (12:00 ET - 1), reached a high of 0.03135, dipped to a low of 0.02972, and closed at 0.03083 (12:00 ET). Total volume was 95,577,221.59999999 and total turnover amounted to 2,855.97 USD (estimated). The pair showed a distinct bullish breakout following a consolidation period, driven by late ET buying pressure.

The candlestick structure reveals a bullish engulfing pattern forming near the 0.0298–0.0301 range, with a clear rejection of lower levels during the 23:15–00:00 ET window. Key support appears to be at 0.02972, which held during the early morning hours, while resistance levels formed at 0.0305 and 0.0310. A potential test of 0.03107 (high of 15:00–15:15 ET) could confirm a stronger uptrend if volume remains robust.

Moving averages on the 15-minute chart indicate a bullish crossover as price crossed above the 20-period SMA, with the 50-period line also showing a positive slope. On a daily timeframe, the 50-day MA is currently flat but has not crossed below the 100- or 200-day lines, suggesting a neutral-to-bullish bias in the medium term.

The RSI climbed from 39 to 57 over the last 24 hours, moving out of oversold territory and into balanced momentum. MACD crossed above the signal line, forming a positive divergence, and the histogram showed a steady increase in bullish momentum. Bollinger Bands expanded after 17:00 ET, with price closing near the upper band at 0.03083—indicating a potential continuation of the upward move.

Volume spiked during the 17:15–17:45 ET and 21:15–21:45 ET periods, coinciding with price highs. Notional turnover aligned with these volume surges, indicating strong participation and order flow confirmation. However, a divergence between price and volume occurred in the 19:45–20:00 ET window, where price dipped slightly while volume remained elevated—suggesting a potential short-term reversal or consolidation before the next move.

Fibonacci retracements on the 15-minute timeframe show that the recent swing from 0.02972 to 0.03135 is currently retesting the 61.8% level at 0.03053. A close above 0.03083 could target the 78.6% level at 0.03106. On the daily chart, the 50% retracement level at 0.0305 could act as a pivot point for continuation or consolidation.

Backtest Hypothesis
Given the confirmed bullish engulfing pattern, the positive MACD divergence, and the RSI moving out of oversold territory, a potential long entry could be placed at 0.03083 with a stop-loss below 0.0305. The first target would align with the 78.6% Fibonacci retracement at 0.03106, followed by the 0.03107 swing high. This strategy assumes continuation of the trend observed in the 15-minute and daily charts and relies on volume and momentum confirmation as key signals. A backtest over the last 30 days could validate the effectiveness of this setup in similar price environments.