MyShell/Tether Volatility Narrows — Buyers Test 0.0322 Floor

Summary
• Price tested 0.0323-0.0336 range, showing consolidation after an intraday high of 0.0336.
• Volume surged near 0.0325, indicating potential accumulation or distribution activity.
• RSI and MACD showed mixed signals, suggesting indecision in near-term momentum.

24-Hour Snapshot

At 12:00 ET on 2026-02-07, MyShell/Tether (SHELLUSDT) opened at 0.0329, reached a high of 0.0336, dipped to a low of 0.032, and closed at 0.0326. Total volume amounted to 6,842,712.0 with a notional turnover of 219,039.1.

Structure & Formations

Price action formed a tight range between 0.0323 and 0.0336 on the 5-minute chart, with several bullish and bearish engulfing patterns near the 0.0325-0.0328 cluster. A long lower shadow at 0.0322 suggests buyers may be stepping in near that level, while 0.0336 acts as a key overhead resistance.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages are closely aligned near 0.0326-0.0328, suggesting a neutral bias. Daily moving averages (50/100/200) are not yet provided, but the current price appears to remain above the 20-period MA, offering limited bullish support.

MACD and RSI

The MACD line showed a bearish crossover near 0.0325-0.0326, while RSI lingered in mid-range territory, indicating no strong overbought or oversold conditions. Divergences were minimal, but momentum appears to be waning as the price consolidates.

Bollinger Bands

Volatility remained contained within a narrow Bollinger Band range, with the price frequently testing the lower band near 0.0323-0.0324 and retreating. A contraction in bandwidth could precede a breakout or breakdown, but no clear signal has emerged yet.

Volume and Turnover

Volume spiked near the 0.0325 level, reaching a high of 619,238.0, and was accompanied by significant turnover of 20,075.9. This suggests a potential area of interest for either accumulation or profit-taking. Divergence between price and volume was not evident during the past 24 hours.

Fibonacci Retracements

Applying Fibonacci to the key 5-minute swing from 0.0322 to 0.0336, the 61.8% retracement level is at 0.0331, while the 38.2% is at 0.0327. Current price is hovering just above the 38.2% level, which may serve as a potential support or pivot point in the short term.

In the next 24 hours, a break above 0.0331 or a retest of 0.0322 could offer clearer directional bias. Investors should remain cautious as the market remains in a tight trading range, and volatility could unexpectedly expand if either level is decisively tested.