Market Overview: TWTUSDT

• Price rallied to a 24-hour high of $0.8024 amid rising volume and momentum.
• RSI and MACD suggest moderate overbought conditions, but price remains above key support.
• Volatility expanded in the early hours with a sharp move above the 0.793–0.797 consolidation range.
• Bollinger Bands widened post-03:00 ET, reflecting growing market interest and potential trend confirmation.

Trust Wallet Token/Tether (TWTUSDT) opened at $0.7687 on 2025-09-17 at 12:00 ET and closed at $0.8006 at 12:00 ET on 2025-09-18. The pair reached a high of $0.8033 and a low of $0.7636 over the 24-hour period. Total volume amounted to 432,997.0 and notional turnover was $325,387.85.

Structure & Formations

Price action displayed a strong breakout from a 4-hour consolidation between $0.7636 and $0.7978, with a decisive bullish reversal forming around 03:00 ET. A bullish engulfing pattern occurred at 03:00 ET (open $0.7949, close $0.8024) which confirmed a shift in sentiment. A key support level appears to be forming near $0.7869, while resistance is emerging around $0.8033–0.8040.

Moving Averages

On the 15-minute chart, price is currently above both the 20-period and 50-period moving averages, suggesting short-term bullish momentum. Daily moving averages (50/100/200) are not fully available due to the 24-hour dataset constraint, but based on the observed move, a potential crossover above the 50-period MA could be forming, indicating a continuation of the uptrend.

MACD & RSI

The RSI reached 67 near the high of $0.8033, signaling overbought territory but not yet extreme. The MACD line crossed above the signal line around 03:00 ET and remains positive, reinforcing the bullish narrative. However, a pullback to RSI below 50 could indicate a temporary consolidation phase or a false break.

Backtest Hypothesis

The proposed backtesting strategy involves entering long positions when the 20-period MA crosses above the 50-period MA on the 15-minute chart, with a stop-loss placed below the most recent swing low and a take-profit at a 1.618 Fibonacci extension. Historical data from this period shows a successful long entry at 02:45 ET (open $0.7884, close $0.7949) with a favorable risk-reward setup. This approach could be validated by simulating similar setups over the past week using additional historical data.