OPENUSDT’s Volatility Spikes as 5.5% Selloff Rebounded on Late-Day Volume Surge

Summary
• Price formed a bullish engulfing pattern near 0.1640 after a 5.5% pullback.
• RSI signaled oversold conditions in early hours before a strong rebound.
• Bollinger Bands expanded as volatility increased, confirming a breakout attempt.
• Volume surged in the final 6 hours, aligning with the price recovery.
• 50-period MA on the 5-minute chart crossed above price, signaling potential momentum.

At 12:00 ET on 2026-02-07, OpenLedger/Tether (OPENUSDT) opened at 0.1641, reached a high of 0.1760, a low of 0.1559, and closed at 0.1598. Total volume was 8,006,552.9, and notional turnover was $1,252,437.6. The 24-hour period featured a sharp reversal after an early morning selloff, with a late-day volume spike confirming the upward shift in sentiment.

Structure & Formations

The price formed a bullish engulfing pattern just above 0.1640, following a 5.5% decline from 0.1702. A 61.8% Fibonacci level at 0.1633 aligned with a key support zone where buyers intervened. The price briefly rejected at 0.1702 before a final 5-minute period closed at 0.1598.

Moving Averages

On the 5-minute chart, the 20-period moving average crossed above price near 0.1640, indicating a short-term bullish shift. On the daily chart, the 200-period MA acted as a baseline support, with price currently 4.5% above it.

Momentum & RSI

RSI hit oversold territory in the 30–35 range at 04:30 ET, then surged to 56 at 08:00 ET, suggesting renewed buying pressure. MACD turned positive in the early hours, with a bearish divergence noted at 06:00 ET when price dipped but the indicator remained flat.

Volatility & Bollinger Bands

Bollinger Bands saw a notable expansion from 0.1680 to 0.1760 on the high and 0.1559 on the low. Price closed near the midline of the bands, suggesting consolidation ahead of a potential breakout.

Volume and Turnover

Volume increased by 45% in the final 6 hours, particularly from 05:00 to 11:00 ET, with notional turnover reaching $1.1 million in that period. The divergence between price and turnover at 06:00 ET suggests some short-term uncertainty in the move.

The market appears to be testing a key bullish threshold in the coming hours, with a potential break above 0.1702 indicating stronger momentum. However, volatility remains high, and traders should be cautious of potential pullbacks or consolidation below 0.1600.