Summary
• Price tested key resistance at 0.4850–0.4860, failing to confirm a breakout.
• Volatility expanded during overnight hours with a high of 0.4895 and a low of 0.4696.
• RSI showed overbought conditions midday, followed by a pullback into oversold territory.
• Bollinger Bands displayed a wide range, indicating elevated price swings.
• Volume spiked during the 02:45–04:45 ET window, coinciding with a sharp upward move.
At 12:00 ET–1, Tezos/Tether (XTZUSDT) opened at 0.4735, reached a high of 0.4895, and closed at 0.4848 by 12:00 ET, with a low of 0.4696. The 24-hour volume totaled 1,159,278.0 and turnover amounted to approximately $453,303.81.
Structure & Formations
Price action showed a bearish rejection at the 0.4850–0.4860 level during midday hours, forming a potential bearish engulfing pattern. A double-bottom structure emerged around 0.4730–0.4735, with support confirmed on two separate occasions. A doji at 0.4792 (21:30 ET) suggested indecision after a sharp drop.
Moving Averages
On the 5-minute chart, price spent most of the session below the 50-period SMA but closed near the 20-period line, indicating a potential consolidation phase.
The daily 50/100/200 MA cluster is not immediately visible in the 5-minute data, but longer-term trend direction appears neutral to slightly bullish.
MACD & RSI
The MACD showed bullish momentum during the 04:00–06:30 ET window, aligning with the price high of 0.4895. However, RSI peaked at overbought levels and pulled back into oversold territory by late morning, suggesting a possible correction. A bearish divergence emerged between RSI and price in the late hours of 12:00–03:00 ET.
Bollinger Bands
Volatility was notably expanded, with the bands reaching a width of 0.0233 during the 21:00–02:00 ET window. Price remained within the bands for most of the session, bouncing off the lower band around 0.4730 before a late rally.
Volume & Turnover
The highest volume of 68,863.1 occurred at 01:45 ET, coinciding with a breakout attempt to 0.4801. Turnover during this period was also elevated, confirming the move. A divergence between volume and price was observed in the 02:45–04:45 ET window, with price rising but volume dropping off after the 04:00 ET high.
Fibonacci Retracements
The 61.8% Fib level from the 0.4696 low to the 0.4895 high resides at ~0.4815, which has been a key support/resistance zone. Price has tested this level multiple times, with the most recent bounce occurring at 04:45 ET. The 38.2% level (~0.4858) appears to be resistance for now.
Looking ahead, a break above 0.4860 could signal renewed bullish momentum, but traders should watch for a potential reversal if this level fails to hold. Given the elevated volatility, sudden price swings remain a risk in the next 24 hours.
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