Mubarak/Tether Market Overview

• Price surged 18.5% from $0.03438 to $0.03627, driven by strong volume in the final 4.5 hours.
• Momentum accelerated with a 1.5-hour bullish breakout above key resistance at $0.035 and $0.036.
• Volatility expanded as price traded between $0.03225 and $0.03642, with Bollinger Band widening.
• High volume divergence at $0.03627 raised questions about near-term sustainability.
• RSI hit 78 at the high, signaling overbought conditions, while MACD crossed into strong positive territory.

Mubarak/Tether (MUBARAKUSDT) 24-Hour Summary

Mubarak/Tether opened at $0.03438 on October 9 at 12:00 ET and closed at $0.03627 on October 10 at 12:00 ET. The 24-hour range was $0.03438 to $0.03642, with a high of $0.03642 and low of $0.03225. Total volume was 93,615,457.19999998 and total turnover amounted to 2,543.22 USDT.

Structure & Formations

Price formed a bullish continuation pattern during the 12:00–16:00 ET window, with a breakout above $0.035 on strong volume. A strong green candle on October 10 at 11:45 ET marked a decisive break above a 5-day resistance zone. A bearish engulfing pattern was noted near the low at $0.03225, suggesting a potential bounce. A doji near $0.0343 indicated indecision during consolidation.

Moving Averages

On the 15-minute chart, price closed above both the 20-EMA and 50-EMA, confirming short-term bullish momentum. The 50-EMA (at $0.0346) and 100-EMA (at $0.0344) aligned with the 200-EMA (at $0.0343) near the session open. Price diverged significantly from the daily 200-EMA in the final hours, suggesting a potential correction or continuation.

MACD & RSI

The MACD histogram showed a strong positive divergence from 11:45 ET onward, peaking at $0.03623. RSI rose from 48 to 78, indicating overbought conditions near the high. However, RSI did not form a top divergence, suggesting continued momentum could follow.

Bollinger Bands

Volatility expanded significantly, with the upper band reaching $0.03642 and the lower band hitting $0.03225. Price closed the session near the upper band, suggesting continued bullish pressure. The bands had previously constricted during consolidation between $0.0343 and $0.0346, setting up for a breakout.

Volume & Turnover

Volume surged during the final 4.5 hours, particularly between 11:15 and 12:00 ET. Turnover rose from $0.035 to $0.036, confirming the breakout. A divergence between price and volume appeared near the high, with volume slowing as price peaked, signaling caution for further momentum.

Fibonacci Retracements

Price tested the 61.8% retracement level at $0.0355 before surging past the 78.6% level at $0.0362. On the 15-minute chart, key levels at $0.03438 (open) and $0.03627 (high) formed a 1.618 Fibonacci extension, suggesting possible targets at $0.0371–$0.0375 if the trend continues.

Backtest Hypothesis

The described strategy involves entering long positions when price breaks above the 200-EMA and the RSI crosses above 50. This was observed at $0.0346 at 11:15 ET, which preceded the breakout. The MACD cross and divergence further confirmed the signal. A stop-loss at the 15-minute 20-EMA would have been triggered at $0.0343, while a target at the 1.618 Fibonacci level would have been reached by the session end.