Market Overview for yearn.finance/Tether (YFIUSDT)

Summary
• Price action formed a bearish trend from 3,560 to 3,438 with key support near 3,450.
• Volume surged during the downward move, confirming bearish momentum.
• RSI and MACD showed oversold conditions, hinting at potential short-term bounce.
• Bollinger Bands reflected moderate volatility with price testing the lower band repeatedly.
• A bullish reversal pattern emerged near 3,450, suggesting a short-term floor.

The pair opened at 3,538 on 2026-01-09 12:00 ET, reached a high of 3,560, dipped to a low of 3,438, and closed at 3,468 at 12:00 ET the following day. Total volume amounted to 152.948 BTC, while turnover reached $527,381.26.

Structure & Formations

Price action over the 24-hour period displayed a descending pattern, breaking below the prior support at 3,500 to test the 3,450 level. A bullish hammer candle formed near 3,450, suggesting temporary demand. The 3,450-3,470 range appears to be a key support cluster, with multiple bounces observed within this zone.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages were closely aligned, reflecting a consolidating bearish trend. The 200-period MA on the daily timeframe remains above the current price, indicating a longer-term bearish bias.

Momentum and Volatility

The RSI dipped into oversold territory (below 30) during the 04:15 to 05:45 ET timeframe, suggesting potential for a rebound. MACD remained in negative territory but with a narrowing histogram, indicating slowing bearish momentum. Bollinger Bands showed moderate volatility, with price testing the lower band multiple times without a strong breakout.

Volume and Turnover

Volume surged as price approached 3,450, reinforcing the bearish move. Notional turnover peaked during the 03:00 to 05:00 ET window, aligning with the largest price drop. A volume divergence was not observed, and the price-volume correlation supported the bearish bias.

Fibonacci Retracements