Summary
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consolidates near 0.0104, with support at 0.0103 and resistance at 0.0105.
• Volume surged above average post-21:00 ET, but price action failed to confirm a breakout.
• MACD shows weakening bullish momentum, while RSI remains neutral below overbought.
• Bollinger Bands narrowed overnight, hinting at potential volatility expansion.
• Fibonacci levels suggest 0.0103 (61.8%) as immediate support with 0.0105 (38.2%) as key resistance.
TrueFi/Tether (TRUUSDT) opened at 0.0104 at 12:00 ET-1, reached a high of 0.0106, and closed at 0.0105 at 12:00 ET, with a low of 0.0102 over the 24-hour period. The total volume was 16,471,868.0 TRU, and the notional turnover amounted to $177,409.36.
Structure & Formations
Price action remained within a narrow range of 0.0102–0.0106, forming a tight consolidation pattern.
A potential bullish engulfing pattern emerged around 05:00 ET, but it failed to break through 0.0106. A bearish divergence in price and volume was observed around 15:45 ET, as volume surged without a corresponding price rally.
Moving Averages and Momentum
On the 5-minute chart, the 20-period and 50-period moving averages are closely aligned around 0.01045, reflecting a neutral bias. The MACD histogram has shrunk, indicating waning bullish momentum. RSI remains in the mid-40s, suggesting neither overbought nor oversold conditions, though with limited room for upward extension.
Volatility and Bollinger Bands
Bollinger Bands have been in a period of contraction since 03:00 ET, narrowing to 0.0104 ± 0.00003. This suggests a potential for increased volatility. Price remained within the bands for most of the period, with a brief push to the upper band at 05:30 ET that failed to break through.
Volume and Turnover
Volume spiked above average between 21:00 ET and 01:00 ET, with turnover increasing proportionally. However, a volume spike at 15:45 ET was accompanied by a pullback in price, pointing to potential short-term weakness. Turnover and volume remained positively correlated for most of the period, reinforcing liquidity.
In the next 24 hours, a test of the 0.0105 resistance level could occur, potentially fueled by increased volume. A sustained close above 0.0105 may signal a breakout attempt, but traders should remain cautious of potential pullbacks if volume fails to confirm such a move.
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