Summary
• Price action formed a bearish engulfing pattern as
dropped below key support at 0.274.
• Volume surged during the 16:45–17:00 ET window, coinciding with a sharp price drop to 0.262.
• RSI dipped into oversold territory below 30, suggesting potential for a short-term rebound.
• Bollinger Bands showed expansion as volatility increased during the selloff.
• Fibonacci retracement levels at 0.266–0.268 could offer near-term support.
Theta Network/Tether (THETAUSDT) opened at 0.275 on 2025-12-30 12:00 ET, surged to a high of 0.278 before dropping to a 24-hour low of 0.261, and closed at 0.263 on 2025-12-31 12:00 ET. Total volume traded over the period was 6,058,893.3 with a turnover of 1,612,250.46.
Structure & Formations
A bearish engulfing pattern formed around the 19:00 ET hour, confirming a shift in sentiment. A doji at 0.274 signaled indecision before the breakdown, while the breakdown below that level reinforced a bearish bias. Notable support levels emerged at 0.268 and 0.266, with 0.263 as the latest low.
Moving Averages
On the 5-minute chart, price closed below both the 20 and 50-period SMAs, indicating bearish momentum. Daily 50/100/200 SMA lines were not provided, but the intraday trend was clearly bearish and aligned with downward pressure.
MACD & RSI
The MACD crossed into negative territory with bearish divergence, while RSI dropped below 30, suggesting a short-term oversold condition. A rebound is likely, though this may not confirm a reversal.
Bollinger Bands
Bollinger Bands widened significantly during the late ET selloff, reflecting increased volatility. Price closed near the lower band, reinforcing the bearish sentiment.
Volume & Turnover
Volume spiked at 283,220.3 around the 16:45–17:00 ET window, confirming a sharp price drop to 0.263. Turnover diverged slightly from price in the final 2 hours as volume slowed, but this could indicate exhaustion rather than reversal.
Fibonacci Retracements
Key Fibonacci levels at 38.2% (0.266) and 61.8% (0.263) were tested as support, with 0.263 being the most recent low. A retest of these levels is expected, with a potential bounce or consolidation possible.
Price may test the 0.263–0.266 range in the next 24 hours for support, with a possible bounce or sideways consolidation expected. However, a break below 0.262 could trigger further bearish momentum. Investors should watch for volume confirmation during any rally attempt.
Comments
No comments yet