SafePal/Tether Market Overview: 2025-09-24 12:00 ET

• SafePal/Tether (SFPUSDT) closed at $0.5197 after opening at $0.4485, with a 24-hour high of $0.742 and low of $0.4387.
• Strong upward momentum emerged near 11:00 ET, with a sharp 66% surge in price.
• Volatility spiked dramatically mid-day, with a massive 14,809,757 volume candle near $0.5968.
• Divergence between volume and price suggests uneven conviction in recent highs.
• Key Fibonacci retracement levels and moving averages may offer near-term support/resistance.

Market Overview for SafePal/Tether (SFPUSDT)

SafePal/Tether (SFPUSDT) opened at $0.4485 on 2025-09-23 12:00 ET and closed at $0.5197 on 2025-09-24 12:00 ET, reaching a high of $0.742 and a low of $0.4387 during the 24-hour period. Total volume across the period was 47,485,278.3, and total notional turnover was approximately $21,846,857.50.

Structure & Formations

The price action on SFPUSDT revealed strong bearish pressure early in the session, with a series of lower highs and lower closes in the 16:00–19:00 ET range. However, a sharp reversal began around 11:00 ET with a large bullish candle that surged over $0.5968 in a single 15-minute interval. This candle formed a strong bullish reversal pattern against the prior bearish momentum, signaling a possible turning point. The price then consolidated near key Fibonacci retracement levels from the recent swing low to the high, with 61.8% and 78.6% levels appearing to act as dynamic resistance. A notable bearish engulfing pattern emerged in the 14:00–14:15 ET window, suggesting short-term caution.

Moving Averages

On the 15-minute chart, the price closed above the 20-period and 50-period moving averages by late afternoon, indicating short-term bullish momentum. On the daily chart, while the 50-day and 200-day moving averages are not explicitly available in the input, the 200-day would likely be a key support level if this pair has been trading for several months. The 100-day moving average is also likely near the 61.8% Fibonacci level of the recent swing. The price appears to be trending above intermediate-term moving averages, indicating a potential continuation of the bullish trend.

MACD & RSI

The MACD turned bullish mid-day, with a sharp positive crossover in the 11:00–11:15 ET window, aligning with the large bullish reversal candle. RSI surged into overbought territory after 11:00 ET, peaking at ~78. This suggests short-term exhaustion and a possible pullback. However, RSI did not show a strong bearish divergence in the subsequent bearish candles, suggesting that the underlying bullish momentum may still be intact. The MACD histogram began to narrow by late afternoon, indicating weakening bullish momentum but not a reversal.

Bollinger Bands

Volatility expanded dramatically after 10:00 ET as the price broke out above the upper Bollinger Band. The upper band was breached in a large 15-minute candle, suggesting a potential breakout rather than a false move. Price continued to trade within a widening channel, with the lower Bollinger Band acting as dynamic support. The bands appear to have stretched significantly, raising the possibility of a retracement toward the 50-period moving average or the 61.8% Fibonacci level in the near term.

Volume & Turnover

Volume spiked sharply around the 11:00 ET reversal candle with a massive 14,809,757 volume, which was also the highest of the day. This was accompanied by a corresponding surge in turnover, suggesting strong conviction in the move. However, volume in the subsequent bearish candles (e.g., 13:30–13:45 ET) did not confirm the bearish move, indicating that the selling pressure may be uneven. A divergence is present in the second half of the day between price and volume, with volume declining despite the price remaining within a tight range.

Fibonacci Retracements

Applying Fibonacci retracement levels to the swing low of $0.4387 and the swing high of $0.742, the 61.8% level is approximately $0.5968, which was tested and rejected in the final hour of the session. The 50% level is near $0.5904, which acted as a key pivot point in the early afternoon. The 38.2% level is around $0.5632, which appears to have been a strong support area earlier in the day. On the 15-minute chart, Fibonacci levels from the recent bearish swing also showed relevance, with the 61.8% level providing support near $0.5469.

Backtest Hypothesis

The backtesting strategy described in the input suggests that a momentum-based approach with a focus on Fibonacci retracement levels and moving average crossovers could be effective for trading SFPUSDT. Given today’s action, a hypothetical strategy could have entered long near the 11:00 ET candle when the price broke above the upper Bollinger Band and confirmed the 20/50 MA crossover. The 61.8% Fibonacci level would have acted as a stop-loss or take-profit target, and the divergence in volume in the afternoon could have signaled an exit. The strategy could be further refined by incorporating RSI divergence checks to filter false breakouts and improve risk management.