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Summary
• Price moved between $3613 and $3866, with key resistance at $3800-3830 and support at $3750-3770.
• Momentum declined after a strong early push to $3866, with RSI signaling overbought conditions.
• Volatility expanded during the initial rally, later contracting as price retreated.
• Volume surged during the bullish breakout but faded as price pulled back.
• No strong divergence seen between price and turnover, but volume failed to confirm recent rallies.
Market Overview
The 24-hour period for yearn.finance/Tether (YFIUSDT) opened at $3778, reached a high of $3866, touched a low of $3613, and closed at $3643 as of 12:00 ET. Total volume was 155.85 BTC and notional turnover totaled approximately $572,914 (based on average price of ~$3,674).
Structure & Formations
Price moved in a distinct range-bound pattern after an initial aggressive push to $3866. A bearish engulfing pattern formed near $3800-3830, followed by a series of lower highs and lower closes. Key support levels at $3750-3770 and $3650-3670 held briefly but failed to halt the descent below $3650.
MACD & RSI
MACD showed positive momentum during the early rally but diverged as price declined. RSI peaked above 70, signaling overbought conditions, then dropped sharply to around 45, suggesting potential exhaustion in the bearish move.
Bollinger Bands
Volatility expanded significantly during the initial rally to $3866, pushing price above the upper band. As price declined, volatility contracted again, with price staying within the band range in the final hours.
Volume & Turnover
Volume spiked during the early bullish wave to $3866, then sharply declined during the bearish pullback. This suggests fading momentum and lack of conviction in the recent selloff. No clear divergence between price and turnover was observed.
Fibonacci Retracements
Fibonacci levels applied to the $3613–$3866 swing indicated possible retracements at $3743 (38.2%) and $3794 (61.8%), which align with key resistance levels. Price stalled near the 61.8% level before falling further.
Looking ahead, traders may watch for a potential bounce from $3650–$3670 or further breakdown below that range. A move back above $3800 would suggest a resumption of bullish momentum, but near-term volatility remains a key risk factor.
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