Summary
• Price declined from 0.01417 to 0.01330, forming bearish engulfing and key support levels.
• Momentum weakened as RSI approached oversold territory and MACD turned negative.
• Volatility expanded during the drop, with sharp volume spikes near 0.0139 and 0.0133.
• Bollinger Bands widened during the selloff, indicating a potential pause or reversal.
• A 61.8% Fibonacci retracement at 0.01388 suggests possible near-term resistance.
Test/Tether (TSTUSDT) opened at 0.01403 on 2025-12-17 at 12:00 ET, reached a high of 0.01421, touched a low of 0.01306, and closed at 0.01337 at 12:00 ET on 2025-12-18. Total volume reached 33,560,348.4 and notional turnover was approximately $460,860.
Structure & Formations
Price carved a sharp bearish trend, with multiple bearish engulfing patterns emerging between 0.0139 and 0.0133. A notable doji formed at 0.01373 around 00:15 ET, signaling potential indecision. Key support levels were identified near 0.01330, with 0.01388 acting as a prior 61.8% Fibonacci retracement level from the high.
Moving Averages
On the 5-minute chart, price closed below both 20 and 50-period SMAs, reinforcing a bearish bias. Daily chart 50/100/200 lines indicate the pair remains within a broader bearish trend, with price continuing below all key moving averages.
MACD & RSI
MACD turned negative and remained below the signal line, suggesting fading bullish momentum. RSI dropped into oversold territory below 30, hinting at potential short-term reversal or consolidation. However, the lack of a sharp rebound suggests lingering bearish conviction.
Bollinger Bands
Volatility expanded as price broke down from the lower band during the early hours of 2025-12-18. The bands widened during the selloff, reflecting increased uncertainty and potential for a mean reversion around the 0.0135–0.0136 range.
Volume & Turnover
Volume spiked near key price levels, notably at 0.0139 (18:30 ET) and 0.0133 (05:30 ET), with turnover aligning closely. A divergence between price and volume occurred during the morning hours, with declining volume despite continued price weakness, suggesting potential exhaustion.
Fibonacci Retracements
The 5-minute chart retraced from 0.01421 to 0.01306, with 0.01388 (38.2%) acting as a recent area of resistance. On the daily chart, 0.01330 aligns with a key 61.8% level, offering potential near-term support for a possible bounce.
Price appears to have exhausted short-term bearish momentum but remains underpinned by macro-level bearish bias. A test of 0.01330 could trigger a bounce or continued consolidation. Investors should monitor volume and price behavior near 0.0136–0.0137 for early signs of a reversal.
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