Market Overview for Yield Guild Games/Tether (YGGUSDT) on 2025-10-31

• Price declined from 0.1183 to 0.1144 in the early session before recovering to 0.1202 at the close.
• Key support tested and rejected at 0.1140–0.1150, while 0.1180–0.1200 acted as dynamic resistance.
• Volume surged during the 0.1144–0.1160 consolidation phase, signaling accumulation.
• MACD and RSI suggest moderate bullish momentum with no overbought/oversold extremes.
• Bollinger Bands indicate moderate volatility, with price staying within the 1σ range for most of the day.

The YGGUSDT pair opened at 0.1171 on October 30 at 12:00 ET and reached a high of 0.1209 during the overnight session before settling at 0.1202 by 12:00 ET on October 31. Total traded volume amounted to 56,639,494.1, and notional turnover was calculated at approximately $6,825,435. The price action reflected a strong bearish pullback in the early session, followed by a measured bullish rebound, suggesting indecision among traders.

The 15-minute chart revealed a dynamic support zone forming around 0.1140–0.1150, where price found buyers multiple times throughout the day. Notably, the 0.1144–0.1160 range saw increased volume, signaling accumulation. Resistance levels were clearly visible around 0.1180–0.1200, with the 0.1195–0.1200 level acting as a psychological ceiling. A bullish breakout above 0.1209 could target the next key resistance at 0.1217, while a breakdown below 0.1154 could extend the bearish move toward 0.1140.

Bollinger Bands indicated moderate volatility throughout the day, with price staying within the one-standard-deviation range. The RSI (14) oscillated between 45 and 65, suggesting that momentum remained neutral with no overbought or oversold signals. MACD (12,26,9) remained above the signal line with a positive histogram, hinting at a potential continuation of the bullish trend if buyers can maintain control above 0.1180.

Fibonacci retracement levels applied to the day's range (0.1144–0.1209) identified key levels at 0.1172 (38.2%), 0.1189 (50%), and 0.1199 (61.8%). These levels coincided with price consolidation and minor bounces, suggesting psychological relevance. On the daily chart, 50-day and 200-day moving averages remain below current price, but the 20-day MA has crossed above the 50-day MA, forming a potential bullish crossover. A sustained move above 0.1209 could confirm a short-term bullish bias.

Backtest Hypothesis

To refine the potential of a bullish breakout strategy, we could conduct a backtest based on historical occurrences of a Bullish Engulfing pattern on YGGUSDT. This pattern typically indicates a reversal from a bearish trend to a bullish one, with the larger bullish candle "engulfing" the previous bearish candle. If we can obtain a list of such pattern occurrences (as described in the backtest strategy prompt), we could evaluate the average 1-, 2-, and 3-day returns to determine the strategy’s viability. This would allow us to align the hypothesis with the observed price behavior and volatility seen in the 2025-10-31 data.