Market Overview for Usual/Tether (USUALUSDT)

Summary
• Price fluctuated between 0.0265 and 0.0285 on the 5-minute chart, forming bullish and bearish engulfing patterns.
• Volume spiked after 06:45 ET, coinciding with a 0.0284 high and confirming a strong buying interest.
• RSI showed overbought conditions late morning before retracing, signaling potential near-term exhaustion.
• Price spent most of the session within a tightening Bollinger Band range before breaking higher.
• Notional turnover surged to $110M around 07:15 ET, indicating heightened institutional participation.

The 24-hour session for Usual/Tether (USUALUSDT) began at 0.0271 and closed at 0.0283 with a high of 0.0297 and a low of 0.0265. Total volume reached 49.3 million units, with notional turnover hitting $110.4 million. The pair showed elevated volatility and momentum after a morning rangebound phase.

Structure & Formations

Price action displayed a series of key pivot points between 0.0265 and 0.0285. A bearish engulfing pattern formed at 0.0275 on the 5-minute chart, but a subsequent bullish engulfing pattern at 0.0278 suggested a shift in control. A long-legged doji near the session’s high at 0.0297 hinted at indecision among traders, potentially marking a near-term resistance zone.

Moving Averages

The 20-period and 50-period moving averages on the 5-minute chart crossed above the price in the late morning, supporting a bullish bias. Daily 50/100/200 SMA lines indicated a stronger uptrend at the daily level, with price above all three, suggesting continued accumulation sentiment.

MACD & RSI

The MACD histogram showed a positive divergence after 07:00 ET, aligning with the price breakout. RSI reached overbought territory at 0.0297 and pulled back, which could signal a short-term consolidation phase. RSI remains in mid-range territory, suggesting no immediate reversal signal.

Bollinger Bands

Price spent much of the session within a tightening Bollinger Band range, with a breakout occurring at 07:15 ET. The 2-standard deviation band reached 0.0297, and the current price is just below the upper band, indicating a continuation of the breakout move.

Volume & Turnover

Volume spiked dramatically at 06:45 ET, coinciding with a sharp rise to 0.0284 and a 5-minute candle closing at 0.0284. Notional turnover surged to $110 million, the highest of the session, likely driven by institutional activity. Volume and price moved in alignment, supporting the breakout thesis.

Fibonacci Retracements

On the recent 5-minute swing, key Fibonacci levels at 0.0275 (38.2%) and 0.0282 (61.8%) were tested, with price holding above the 61.8% level before rallying further. This suggests continued bullish momentum ahead of the next major retracement at 0.029.

The market appears to be in a strong short-term uptrend with clear technical confirmation in volume and momentum. However, a pullback to the 0.0282–0.0278 zone could test buying interest over the next 24 hours. Investors should remain cautious of overbought conditions and potential consolidation after a sharp move.