Market Overview for Tezos/Tether (XTZUSDT) on 2025-11-07

• Price opened at $0.6611, peaked at $0.6776 before a pullback to $0.6158, closing at $0.6671.
• High volume observed in early morning ET, followed by a divergence in price and volume.
• RSI showed overbought conditions late morning, while Bollinger Bands widened, suggesting increased volatility.
• A key resistance at $0.6548 was retested and broken, indicating a possible continuation above $0.66.

XTZUSDT opened at $0.6611 on 2025-11-06 at 12:00 ET, reached a high of $0.6776, a low of $0.6158, and closed at $0.6671 at 12:00 ET on 2025-11-07. The total volume traded over the 24-hour period was 11,968,700.4 units, while the notional turnover was approximately $7,575,819.25.

The price action showed a bearish breakdown in early morning trading before a sharp recovery began in the late afternoon and evening. The 20-period and 50-period EMA on the 15-minute chart crossed above the price in the last three hours of the session, suggesting potential bullish momentum. A notable bullish engulfing pattern formed between 03:45 and 04:00 ET, followed by a continuation of the upward trend. A key support level was identified at $0.6206, which held during the early selloff.

The MACD line crossed above the signal line in the early morning, confirming a potential bullish trend, while the RSI reached overbought territory (above 70) by 11:45 ET. This suggests short-term momentum may be overextended. The 15-minute Bollinger Bands saw a significant expansion during the late afternoon, indicating increased volatility. Price remained in the upper band for much of the session, indicating strong buyer participation.

Volume and turnover spiked during the selloff in early morning trading but diverged in the afternoon, with volume declining even as the price continued to rise. This could suggest a possible consolidation phase ahead. A key Fibonacci level at 61.8% of the previous downtrend ($0.6409) was retested and broken, supporting a continuation of the current bullish trend.

A critical resistance level was retested at $0.6548, which was broken with strong volume during the morning session. This could be used as a backtesting event definition: "Resistance Level = price closing above the highest close of the previous 20 trading days (20-day high)." This approach aligns with the observed breakout dynamics in the recent session. Given the strong volume and the confirmation of the breakout via MACD and RSI, this event could be a key entry trigger for long strategies. If we define the resistance level as a breakout of the prior 20-day high, the current price move appears to qualify under that rule, making it a testable event for historical performance.