Market Overview for Yearn.finance/Tether (YFIUSDT): 24-Hour Summary

• Price dipped to a 24-hour low of $5264.00 before rebounding on increased volume.
• Volatility expanded after 19:30 ET, with a bullish engulfing pattern forming near $5275.
• RSI remained neutral at ~49, suggesting no immediate overbought or oversold conditions.
• Turnover spiked during late ET hours, coinciding with a price rebound from key support.

The 24-hour session for yearn.finance/Tether (YFIUSDT), from 12:00 ET-1 to 12:00 ET on 2025-10-10, opened at $5304.00, hit a high of $5340.00, a low of $5249.00, and closed at $5306.00. Total volume traded was 34.01763 YFI, with turnover reaching $17,893.35. The session was marked by a late-evening rebound from a critical support cluster.

Over the last 24 hours, YFIUSDT displayed a range-bound structure, oscillating between key support around $5275 and resistance at $5320. The price action formed a bullish engulfing pattern at $5275 after a sharp decline to $5264.00, indicating potential short-term reversal. A doji appeared at $5315.00 during a pullback, signaling indecision. The 20-period and 50-period moving averages on the 15-minute chart remained closely aligned, pointing to a sideways trend with no clear bias.

MACD remained near zero with no clear divergence from price, while RSI hovered around 49, suggesting that momentum remained neutral. Bollinger Bands expanded after 19:30 ET, coinciding with the sharp price swing between $5264.00 and $5324.00. The price closed near the upper band during the rebound, suggesting potential follow-through buying interest. A Fibonacci retracement from the $5249.00 swing low to the $5340.00 swing high indicated that the 61.8% level is now at $5298.00—close to the final close. This suggests that the 53.00–53.20 range could consolidate into a key support/resistance cluster.

The volume profile showed a steady increase in activity during the 20:00–23:45 ET period, with the largest single 15-minute candle recording $5268.00 turnover on $1,354.99 notional. A divergence between price and turnover was observed during the early morning hours, as price declined but turnover remained flat. This could indicate a potential exhaustion in selling pressure or low participation in a downward move.

Backtest Hypothesis
The described backtest strategy involves entering long positions on YFIUSDT after the formation of a bullish engulfing pattern near key Fibonacci retracement levels (e.g., 61.8%). The strategy would target a 1.5%–2% take-profit with a stop-loss placed just below the pattern’s low. Given the recent formation of a bullish engulfing pattern at $5275 and the price’s adherence to the 61.8% retracement level, this pattern could present a viable short-term entry. However, confirmation above $5315.00 would strengthen the signal. A similar strategy using bearish engulfing patterns and Fibonacci levels could also be tested for shorting opportunities.