Newton Protocol/Tether (NEWTUSDT) Market Overview – 2025-10-31

• Newton Protocol/Tether (NEWTUSDT) traded in a -1.3% range over 24 hours, with key support holding near 0.1320.
• Price action showed a bearish bias in the early hours before a tentative recovery attempt post 00:00 ET.
• On-balance volume remained elevated in the afternoon, indicating increased market participation.
• RSI levels suggest moderate oversold conditions, but without strong bullish confirmation.
• A continuation of consolidation could lead to a breakout or breakdown within the next 24 hours.

Market Summary

Newton Protocol/Tether (NEWTUSDT) opened at 0.1367 at 12:00 ET–1, reached a high of 0.1380, and a low of 0.1311, closing at 0.1363 at 12:00 ET. Over the 24-hour period, the pair recorded a trading volume of 6,588,487.5 and notional turnover of $873,622.55. The price action has shown a bearish drift in the early hours, followed by a muted bullish attempt in the overnight session.

Structure & Formations

Price found key support near 0.1320, which appears to be holding as a baseline for the asset. The formation of several bearish patterns, including a bearish engulfing and a hanging man, suggests increasing bearish sentiment. A bullish hammer pattern emerged post 00:00 ET, indicating a potential short-term reversal. The price action suggests that buyers are testing the upper bounds of the recent consolidation range but have yet to commit strongly.

Moving Averages

On the 15-minute chart, the price is currently below both the 20-period and 50-period moving averages, which are converging with a slight bearish bias. The 20SMA sits at approximately 0.1361, while the 50SMA is near 0.1363. On the daily chart, the 50/100/200-day moving averages are aligned in a flat to slightly bearish configuration, with the 50DMA at 0.1365 and the 200DMA at 0.1364. This suggests a neutral to bearish outlook over the next 24–48 hours.

MACD & RSI

The MACD on the 15-minute chart remains negative, with the signal line crossing below the zero line in the early hours of the morning. The histogram is shrinking in volume, suggesting a slowdown in bearish momentum. The RSI is currently at 35, indicating oversold conditions but without a strong rebound. This suggests the asset may be due for a short-term bounce but lacks conviction for a sustained upward move.

Bollinger Bands

Price action has remained within the Bollinger Bands for most of the period, with the bands expanding slightly in the afternoon as volatility increased. The current price of 0.1363 is positioned near the middle band, indicating a lack of strong directional bias. A breakout above the upper band or a breakdown below the lower band could trigger a more defined trend.

Volume & Turnover

Volume spiked during the afternoon hours, particularly between 16:00 and 19:00 ET, as selling pressure intensified. The highest 15-minute volume was recorded at 19:15 ET with 119,393.9 units. Turnover also increased during this time, reaching $15,542.43 in the same 15-minute interval. The price and volume action showed a divergence in the late hours as buying interest picked up, but the volume failed to confirm a strong reversal. This suggests a potential test of the key support levels in the near term.

Fibonacci Retracements

Applying Fibonacci retracement levels to the most recent 15-minute swing (from 0.1380 to 0.1311), the 38.2% and 61.8% levels are at 0.1347 and 0.1333, respectively. The current price of 0.1363 is above the 38.2% level, suggesting that buyers may struggle to maintain control if the price drops back into this range. On the daily chart, key Fibonacci levels from the broader swing (from 0.1379 to 0.1311) are at 0.1335 and 0.1351, where the current price is now hovering.

Backtest Hypothesis

Given the recent appearance of a bullish hammer pattern at 00:00 ET and the asset’s positioning near key Fibonacci support levels, a potential backtesting strategy could involve a 3-day holding period after a confirmed Bullish Engulfing pattern is detected. This strategy would aim to capture short-term bullish momentum in a range-bound or consolidating market. The RSI and MACD readings suggest that while the asset is oversold, it lacks the strong momentum needed to confirm a reversal. Therefore, if the pattern is identified accurately, this could serve as a viable low-risk entry point for short-term traders. However, due to the lack of a confirmed pattern in the provided data, the strategy remains theoretical until validated by a reliable pattern recognition system.