Summary
• Price tested key support at $0.4959 and rebounded, with a bullish hammer formation suggesting short-term recovery.
• Volume surged in the last 90 minutes, confirming a shift in momentum toward buyers after a prolonged downtrend.
• RSI remains in oversold territory at 28, hinting at potential reversal, though MACD shows mixed signals with a narrowing histogram.
Tezos/Tether (XTZUSDT) opened at $0.5013 on 2025-12-29 12:00 ET, reaching a high of $0.5143 and a low of $0.4857 before closing at $0.5148 on 2025-12-30 12:00 ET. Total volume traded over 24 hours was 772,709.4, with a notional turnover of $388,416.3.
Structure & Formations
Price found a strong support level around $0.4959, coinciding with a bullish hammer pattern on the 5-minute chart. This level appears to have acted as a floor during the late-night decline. A larger bullish engulfing pattern formed between 12:30 and 12:45 ET as buyers pushed price above key resistance.
Moving Averages
On the 5-minute chart, price recently closed above both 20 and 50-period moving averages, indicating a shift in short-term sentiment. The daily chart shows price holding above the 50 and 100-period MAs but below the 200-period line, suggesting a longer-term consolidation phase.
MACD & RSI
RSI remained in oversold territory for most of the 24-hour period, bottoming out at 28 before showing signs of recovery. MACD crossed into positive territory in the last hour, but the histogram remains compressed, suggesting momentum may be building but not yet decisive.
Bollinger Bands
Volatility increased in the final 90 minutes, with the Bollinger Bands expanding as price moved above the upper band. This breakout could signal a continuation of the upward move, provided volume remains strong.
Volume & Turnover
Volume and turnover surged sharply in the 15-minute period ending at 17:00 ET, with over $29,778 in turnover. This volume was accompanied by a significant price jump, suggesting conviction in the bullish move. However, divergence between volume and price in the morning hours hinted at indecision.
Fibonacci Retracements
Recent 5-minute swings show price testing the 61.8% Fibonacci retracement level at $0.4959 before bouncing sharply. On the daily chart, the 38.2% level at $0.505 aligns with current resistance, suggesting further upside could face pressure if buyers fail to commit.
Tezos/Tether appears to have found a floor in the last 24 hours, with momentum turning in favor of buyers. A break above $0.5166 could trigger a test of $0.52, but investors should watch for signs of exhaustion in the coming hours. As with all crypto assets, sudden shifts in sentiment could lead to sharp reversals.
Comments
No comments yet