MovieBloc/Tether (MBLUSDT) Market Overview

Summary
• Price surged during the session, forming a bullish breakout.
• Volume increased steadily, confirming rising buying interest.
• RSI signaled strong momentum, nearing overbought territory.

The MovieBloc/Tether (MBLUSDT) pair opened at $0.001291 on 2025-11-07 at 12:00 ET, reached a high of $0.001672, and a low of $0.001288, closing at $0.001323 at 12:00 ET on 2025-11-08. The 24-hour trading volume amounted to 820,643,586, with total turnover reaching $1,099,464. The pair displayed strong accumulation and momentum, particularly in the latter half of the session.

Structure & Formations

A critical support level appears to have formed near $0.001305–0.001310, as the price bounced several times in the early session. Resistance emerged around $0.001335–0.001340, where the price stalled multiple times before breaking through. A bullish engulfing pattern formed around 19:00 ET, suggesting a shift in sentiment from bearish to bullish. A series of higher highs and higher lows in the afternoon suggests a potential trend reversal after an earlier consolidation phase.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed positively, signaling a bullish bias. The price has remained above the 50-period SMA since 19:30 ET, reinforcing the upward trend. On the daily chart, the 50-period SMA is currently around $0.001330, while the 200-period SMA sits at $0.001315. This indicates the price has moved into a positive divergence and could continue upward if bullish momentum is maintained.

MACD & RSI

The MACD line turned positive in the afternoon and remained above the signal line, supporting the bullish breakout. The histogram showed expansion during the 19:30–20:00 ET and 22:00–23:00 ET periods, indicating increasing bullish momentum. The RSI rose from mid-40s to the 70s by 16:45 ET, entering overbought territory and signaling a potential pullback or consolidation phase. However, the price continued to rise after the RSI topped, indicating strong conviction among buyers.

Bollinger Bands

The Bollinger Bands showed a moderate expansion in the early session, with the price trading near the lower band before breaking out toward the upper band. The upper band reached $0.001345–0.001350 by 02:00 ET, and the price traded above it during a sharp rally at 16:45 ET. This suggests increased volatility and a potential continuation of the upward trend. If the price can remain above the upper band, a strong bullish continuation is likely.

Volume & Turnover

Volume surged during the 16:45–17:00 ET time window, with a single 15-minute candle recording 820 million volume units—far exceeding the average. This spike coincided with a sharp price jump from $0.001317 to $0.001428. The notional turnover increased accordingly, suggesting a well-backed move by large participants. A volume spike with high turnover and a corresponding price breakout is a strong confirmation of the bullish narrative.

Fibonacci Retracements

Applying Fibonacci retracement levels to the 24-hour range from $0.001288 to $0.001672, the key levels are around $0.001332 (38.2%) and $0.001357 (61.8%). The price hit the 61.8% level at 16:45 ET before surging higher, indicating strong resistance-turned-support. On the 15-minute chart, the 38.2% and 61.8% retracement levels aligned with key consolidation points and breakout levels, suggesting a high degree of structure in the short-term price action.

Backtest Hypothesis

The technical signals observed today, especially the RSI crossing into overbought territory and the strong volume confirmation, suggest the MBLUSDT pair may be a strong candidate for a backtesting strategy based on RSI-driven signals. If implemented, a hypothetical strategy based on RSI overbought thresholds and confirmed by volume spikes could capture the sharp price move seen today. However, the high volatility and the rapid RSI spike may require tighter risk controls to avoid false positives. The next few hours will test whether the price can hold above $0.001340 or if a retracement to the $0.001315–0.001320 zone could offer a new entry opportunity.