MovieBloc/Tether (MBLUSDT) Market Overview for 2025-09-23

• Price tested key resistance near 0.00205 before retracting.
• Volatility expanded sharply during early morning hours, with volume surging.
• RSI signaled overbought conditions during midday, suggesting potential pullback.
• Bollinger Bands widened post-04:00 ET, indicating heightened market uncertainty.
• Volume and turnover showed divergence during early ET hours.

Over the past 24 hours, MovieBloc/Tether (MBLUSDT) opened at 0.002043 on 2025-09-22 12:00 ET, reached a high of 0.002080, and closed at 0.002040 on 2025-09-23 12:00 ET, with a low of 0.002003. The total traded volume was approximately 190,523,567, and the total turnover was approximately 386.90 (in USD equivalent). The pair showed a clear shift in sentiment, with price testing key levels and volume divergences emerging in key timeframes.

Structure & Formations

The price formed several notable patterns during the 24-hour window. A morning session low near 0.002023 saw a hammer-like structure, suggesting a possible reversal. In the afternoon, a bullish engulfing pattern emerged at 0.002040–0.002041, followed by a series of doji candles that signaled indecision. The most significant resistance was around 0.002050, which held during a midday surge. A breakdown in the late hours confirmed short-term bearish pressure.

Moving Averages

On the 15-minute chart, price briefly crossed above the 20-period MA during the morning but fell back below by midday. The 50-period MA acted as a dynamic support in the late hours. On the daily timeframe, the 50-period MA appears to be forming a key pivot point for the next 24 hours, while the 200-period MA remains in bearish alignment.

MACD & RSI

The MACD showed a bullish crossover in the early morning, followed by a bearish crossover as the price failed to hold key levels. The RSI peaked at overbought territory (70+) around midday, followed by a sharp decline into neutral territory. This suggests that while there was buying interest, it was not sufficient to maintain momentum. A reading below 50 now indicates a potential continuation of the pullback.

Bollinger Bands

Volatility spiked in the early morning as the price broke out of a contraction phase, with the bands expanding significantly. The price tested the upper band around 0.002050 before retreating, confirming the resistance. During the late hours, the price moved closer to the lower band, indicating a potential oversold condition, though it did not close below it.

Volume & Turnover

Volume spiked during the early morning hours and remained elevated through the late hours, confirming the price action. The highest volume was recorded between 00:15 ET and 00:45 ET, as the price surged toward 0.002050. Turnover showed a positive correlation with price during the morning but diverged in the afternoon, indicating possible profit-taking or short-term selling pressure.

Fibonacci Retracements

Applying Fibonacci retracement to the key swing from 0.002003 to 0.002080, the price currently sits near the 38.2% retracement level at around 0.002041. The 61.8% level, at approximately 0.002025, could act as a potential support for the next 24 hours if the downward trend continues.

Backtest Hypothesis

Given the recent price action and technical indicators, a possible backtesting strategy could focus on a breakout and reversal-based approach. For example, entering a long position when the price closes above the 50-period MA on the 15-minute chart, provided it holds for at least two consecutive candles and is confirmed by a bullish MACD crossover. A stop-loss could be placed just below the most recent swing low, while the take-profit target would aim for the next Fibonacci retracement level or key resistance. This strategy would be most effective in a trending environment and should be adjusted during periods of consolidation.