Summary
• Price surged from $3,451 to $3,666 on strong volume and momentum.
• Key resistance appears near $3,660–$3,680 with bullish continuation patterns.
• Volatility expanded as price broke above Bollinger Band upper channel.
• RSI reached overbought territory, suggesting potential pullback ahead.
• Turnover spiked in early hours, confirming upward price action.
The 24-hour candle for yearn.finance/Tether (YFIUSDT) opened at $3,451, reached a high of $3,666, touched a low of $3,447, and closed at $3,660 by 12:00 ET. The total volume was 164.23 BTC, with a notional turnover of $594,248.
Structure & Formations
Price moved higher in a bullish fashion, with a strong rally from $3,580 to $3,666 in the early morning. A bullish engulfing pattern formed at $3,580–$3,660, suggesting further upside could be in play. A key support level appears near $3,570–$3,580, now acting as a potential pivot for short-term traders.
Moving Averages
On the 5-minute chart, the price closed above the 20- and 50-period moving averages, indicating short-term bullish momentum. For daily chart analysis, it appears the price is above the 50- and 100-day moving averages, reinforcing an uptrend.
MACD & RSI
The MACD crossed above zero and remained in positive territory, showing strengthening bullish momentum. RSI entered overbought territory around 70–75, suggesting a potential pause or consolidation phase in the short term.
Bollinger Bands
Volatility expanded in the final hours, with price moving above the upper Bollinger Band. This indicates strong conviction among buyers, but also signals a potential pullback toward the midline or the lower band for near-term support.
Volume & Turnover
Volume increased significantly during the early morning rally, with a large bar at $3,616–$3,724 indicating heavy buying interest. Notional turnover spiked in alignment with price, offering confirmation rather than divergence.
Fibonacci Retracements
Fibonacci levels applied to the recent swing from $3,447 to $3,666 show key retracement levels near $3,575 (38.2%), $3,545 (50%), and $3,512 (61.8%). The price is currently testing the $3,660–$3,680 area as a potential extension.
The market appears to have built strong momentum following a bullish breakout, but overbought RSI and extended Bollinger Bands may trigger a consolidation phase. Investors should watch for a potential retest of the $3,570–$3,580 support zone in the next 24 hours, with risk of a sharp reversal if volume diverges from price.
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