Market Overview for Test/Tether (TSTUSDT)

Summary
• Price tested key support at $0.01585–0.01586 before rebounding, showing bearish caution.
• Momentum reversed in early ET hours as RSI turned bullish from oversold levels.
• Volatility expanded through 05:00–09:00 ET, with volume spiking on the rally.
• A bullish engulfing pattern formed around 04:45–05:00 ET with confirmation volume.
• Price held above 20-period MA for most of the session, suggesting short-term resilience.

Price and Volume Activity

At 12:00 ET-1, Test/Tether (TSTUSDT) opened at $0.01599 and traded between $0.01566 and $0.01621 over the next 24 hours, closing at $0.01611 by 12:00 ET. Total traded volume reached 10,813,081.3 and notional turnover amounted to $173,065.48.

Structure and Momentum

A key support cluster emerged between $0.01585–0.01586, where the price consolidated before reversing higher. This bounce coincided with RSI hitting oversold levels (~25) around 04:00–05:00 ET, which turned bullish as buying interest accelerated. The rally into the morning ET hours showed a bullish engulfing pattern at $0.01595–0.01601, confirming a shift in sentiment.

Volatility and Patterns

Volatility increased significantly from 05:00–09:00 ET, with price breaking above the upper Bollinger Band on the 5-minute chart. This period also saw the highest volume spike, aligning with the rally. The 20-period MA acted as dynamic support for most of the session, with price staying above it.

Implications and Forward View

While the short-term trend appears constructive, especially given the rebound off key support and bullish engulfing pattern, the price has yet to break above the $0.0162–0.01625 resistance zone. Traders may watch for a test of $0.01618–0.0162, with a failure to hold above that range risking a pullback. As always, market conditions can shift quickly with broader macro or cross-asset moves, and TSTUSDT remains sensitive to such shifts.