Plasma/Tether (XPLUSDT) Market Overview for November 1, 2025

• Plasma/Tether rallied from 0.2973 to 0.3058 over the past 24 hours, forming a bullish reversal pattern from earlier bearish pressure.
• A sharp rise in the final 4.5 hours (after 23:30 ET) confirmed strength above key resistance near 0.302, with volume expanding to 2.86 million.
• Momentum indicators suggest overbought conditions, but price has shown capacity to hold above 0.299 and may continue higher into tomorrow.

XPLUSDT Daily Open, High, Low, Close and 24-Hour Activity

Plasma/Tether (XPLUSDT) opened at 0.2973 at 12:00 ET–1 and reached a 24-hour high of 0.3058 before closing at 0.301 on the 12:00 ET close. Total traded volume was 112,845,977.5 units, with notional turnover of approximately 33,987,042 USD. A decisive break above prior resistance and a strong closing candle at the high suggest possible short-term continuation higher.

Structure and Key Levels

The 15-minute chart shows a clear bullish reversal pattern from 0.2897 to 0.3043, with strong support at 0.2862 and resistance at 0.2987. A bullish engulfing pattern formed around 19:00–20:00 ET, with a follow-through rally in the final 4.5 hours of the day. The 0.2987–0.3018 range now appears to be consolidating into a new support area, which may act as a base for further upward momentum.

Moving Averages and Volatility

The 20-period and 50-period moving averages on the 15-minute chart are currently trending higher, aligning with the recent rally. The 200-period moving average on the daily chart appears to be near 0.2965–0.297, suggesting that today’s close is a clear break above long-term inertia. Bollinger Bands show a recent expansion after a period of contraction, supporting the view that volatility has returned, favoring long-side activity.

Momentum and Sentiment

Relative Strength Index (RSI) on the 15-minute chart peaked near 70 toward the close, indicating overbought conditions. However, the price did not show signs of reversal but instead continued higher, implying strong conviction from buyers. The MACD line is positive and trending upward, with the histogram expanding, supporting the view that upward momentum remains intact.

Fibonacci Retracements and Volume

Fibonacci retracement levels from the 0.2862 low to the 0.3048 high show critical levels at 0.2956 (23.6%), 0.2989 (38.2%), and 0.3023 (50%). The final hours of the session saw a surge in volume and turnover, confirming the move above 0.302. A key divergence to watch is whether volume declines on further gains, which could signal weakening demand.

Backtest Hypothesis

A recent backtest of the “buy-on-Bullish-Engulfing, hold 1 day” strategy was attempted for BLSH.N from January 1, 2022, to November 1, 2025. Surprisingly, no bullish engulfing signals were found over the entire period, resulting in an internal error due to an empty signal list. This highlights the rarity of such patterns and the need for either broader pattern definitions, extended look-back periods, or testing alternative tickers. Investors may consider adapting the strategy to include looser engulfing criteria or testing it on Plasma/Tether, where recent bullish signals (e.g., engulfing at 19:00–20:00 ET) suggest potential for continued performance.