ONEUSDT Tests 0.00258 Support Amid Diverging Momentum and Spiking Volume

Summary
• Price declined from 0.00272 to 0.00258 amid increased bearish momentum and divergence.
• A key support zone appears near 0.00258–0.00260 with bearish continuation patterns.
• Volatility expanded in the final 5 hours, with turnover peaking during the late ET session.
• RSI remains in oversold territory, suggesting limited near-term bearish conviction.
• Volume spiked during the 07:00–12:00 ET window, reflecting heightened bear activity.

Harmony/Tether (ONEUSDT) opened at 0.00272 at 12:00 ET − 1 and reached a high of 0.00276 before declining to a low of 0.00257 and closing at 0.00258 by 12:00 ET. Total 24-hour volume was approximately 102,637,433.2 and notional turnover amounted to around $277,654.50.

Structure & Formations

Price formed a descending wedge pattern in the final 6 hours of the session, with key resistance observed around 0.00262–0.00266 and support at 0.00258–0.00260. A bearish engulfing pattern emerged near 0.00265–0.00261, while a long lower shadow at 0.00261–0.00265 suggested a failed rally.

Moving Averages

Short-term momentum (20/50-period 5-min EMA) remained bearish for the past 9 hours, diverging from the 50/100/200 daily lines which were neutral to slightly bearish. The price closed below the 200-period daily MA, indicating bearish bias over a medium horizon.

Momentum and Volatility

MACD showed bearish divergence as price declined toward 0.00258, while RSI approached oversold territory (near 30), signaling potential for short-term bounce. Volatility expanded after 04:45 ET, with Bollinger Bands widening and price oscillating near the lower band until late ET.

Volume & Turnover

Volume spiked sharply between 07:00 and 12:00 ET, coinciding with a decline from 0.0026 to 0.00258. Notional turnover surged during this period, validating bearish sentiment. Divergence appeared in the morning session, where price dropped while volume was moderate, suggesting exhaustion.

Fibonacci Retracements

Recent 5-min swings identified a 38.2% retracement level at 0.00261 and a 61.8% level at 0.00258, with price consolidating near the latter. Daily retracement levels from the prior week’s high suggest a potential bounce zone near 0.00263.

The market appears to be testing near-term support at 0.00258–0.00260, with potential for a short-term rebound if bulls reengage. However, bearish momentum could continue if key support is decisively broken. Investors should remain cautious of increased volatility and sharp corrections ahead of the next 24 hours.