Market Overview for Theta Network/Tether (THETAUSDT): October 29, 2025

• Price traded in a tight range between $0.515 and $0.539, closing near key support.
• Momentum turned bearish after 19:00 ET, followed by a slow recovery later in the session.
• Volume spiked during early sell-offs but faded during the rebound, hinting at fading conviction.
• Bollinger Bands tightened ahead of a break below the midline, signaling potential for a directional move.
• RSI entered oversold territory near 30, suggesting a short-term rebound could be in play.

Price Action and Market Behavior

Theta Network/Tether (THETAUSDT) opened at $0.538 on October 28 at 12:00 ET and traded as high as $0.541 before closing at $0.534 on October 29 at 12:00 ET. Total volume over the 24-hour period was 1,938,046.9, with a notional turnover of $989,315.69. The pair experienced a bearish break below a key support level during the evening hours, followed by a tentative rebound in the late hours, with no clear follow-through in volume.

A notable formation emerged after 19:00 ET when a long lower shadow candle formed, indicating rejection of further downside. A series of lower closes followed, suggesting sellers were in control. However, the price managed to hold above $0.522 afterward, suggesting some short-term support in that area.

Key Levels and Technical Setup

Resistance levels were seen at $0.535, $0.538, and $0.541, with the latter acting as a short-term ceiling earlier in the session. Support levels formed at $0.526, $0.522, and $0.518, with the latter two showing some strength in the afternoon. A bearish engulfing pattern formed around 19:45 ET, confirming a shift in sentiment. A doji near $0.523 in the early morning signaled indecision after the sell-off.

The 20-period and 50-period moving averages on the 15-minute chart converged around $0.528–$0.530, indicating a potential equilibrium zone. On a daily scale, the 50-day moving average sits above $0.530, suggesting a longer-term bias in favor of buyers.

Momentum and Volatility Indicators

The 12-period MACD crossed below the signal line, indicating bearish momentum. RSI reached an oversold level around 30 near $0.518, suggesting a short-term rebound may be on the cards. Bollinger Bands narrowed significantly during the middle of the session, signaling low volatility, but expanded again as price broke below the midline, indicating a potential directional move.

Fibonacci retracement levels from the high of $0.541 to the low of $0.518 suggest key psychological levels at 38.2% (~$0.531) and 61.8% (~$0.523). Price has tested the 61.8% level multiple times during the session, indicating its relevance.

Volume and Turnover Analysis

Volume was strongest during the initial bearish break and again during the late rebound. Notional turnover aligned with price, showing higher values during the $0.518–$0.522 range. However, the lack of volume during the rebound suggests weaker conviction in the move higher. Divergences between price and volume were visible after the 19:00 ET low, raising concerns about the sustainability of the current trend.

Backtest Hypothesis

A potential backtest strategy could involve entering a short position after a confirmed bearish engulfing pattern forms near key Fibonacci levels, such as the 61.8% retracement at $0.523, with a stop-loss above the recent high of $0.533 and a target near $0.515. This strategy would align with the observed momentum signals and support levels identified, particularly in the 15-minute timeframe. Trailing stops could be used to lock in profits during a favorable move.

Outlook and Risk Consideration

Price may continue to test the $0.522 support area in the next 24 hours, with a potential bounce back toward $0.526–$0.530. A break above $0.533 could re-engage bullish sentiment. Investors should remain cautious around the $0.535–$0.538 range as a key resistance cluster. Volatility may remain elevated if the rebound fails to hold.