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Summary
• Price tested key resistance near 0.0165 but retreated, forming bearish divergence in RSI.
• Volatility spiked following a sharp 5-minute rally to 0.01698, with volume confirming the move.
• A key 5-minute doji at 0.01583 signaled indecision, aligning with a 61.8% Fibonacci retracement level.
• Bollinger Bands showed mild contraction early, expanding as price surged and pulled back.
• Turnover remained steady post-03:00 ET, suggesting reduced speculative pressure during consolidation.
Test/Tether (TSTUSDT) opened at 0.01504 on 2025-12-19 12:00 ET, hit a high of 0.01698, and closed at 0.01585 as of 12:00 ET on 2025-12-20. The total volume traded over the 24-hour window was approximately 142,463,306.35, with a notional turnover of around 2,286,813.20.
Price action displayed a strong 5-minute bullish reversal at 0.01625 (amount 3), followed by a sharp retest to 0.01698. However, a bearish engulfing pattern emerged near 0.01647 (amount 2) and was confirmed by a subsequent pullback. A key 5-minute doji formed at 0.01583, aligning with a 61.8% Fibonacci retracement level from the 0.01698 high and 0.01545 low. This area may provide temporary support. Resistance appears to cluster around 0.0162–0.01645, where the price has stalled on multiple occasions.
The RSI showed overbought conditions during the 0.01698 high but diverged lower during the subsequent pullback, suggesting bearish momentum could continue. MACD turned negative after a short bullish crossover, confirming waning upward momentum. Bollinger Bands, which had shown a slight contraction around 05:30–06:00 ET, expanded again during the late surge and retrace. This expansion points to increased volatility and potential for further consolidation or a breakout.
Volume spiked during the 0.01698 high, with a large 5-minute candle (amount 2) showing 24,039,115.3 in volume, reinforcing the legitimacy of the high. However, volume fell sharply after that, suggesting a lack of follow-through buying. Turnover remained relatively stable post-03:00 ET, indicating a shift toward caution among traders. No significant divergence was observed between volume and price action in the last 48 candles.
Applying Fibonacci to the 0.01698 high and 0.01545 low, the 38.2% and 61.8% levels fall at approximately 0.01643 and 0.01583, respectively. Price currently sits near the 61.8% level, where it has formed a potential support zone. A break below this would target the 50% level at 0.01618, with further support likely at 0.01595.
Looking ahead, the next 24 hours may see continued consolidation near 0.01583–0.01625 as traders assess the sustainability of the recent pullback. While a breakout above 0.01625 could reinvigorate bullish sentiment, failure to hold above 0.01585 may signal a deeper correction. Investors should remain cautious as volatility remains elevated and momentum indicators suggest a lack of directional clarity.
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