SafePal/Tether (SFPUSDT) Market Overview for 2025-11-04

Summary
• Price surged 0.3188–0.3467 in 24 hours, closing at 0.3315.
• Volatility spiked as volume reached 1.96M, turnover 0.65M.
• Strong bullish momentum evident in late-night buying surge.

Market Overview

SafePal/Tether (SFPUSDT) opened at 0.3188 on 2025-11-04 and surged to a high of 0.3467 during the day before settling at 0.3315 by 12:00 ET. The 24-hour period saw a total volume of 1.96 million contracts and a notional turnover of 0.65 million USDT, marking a sharp increase in market activity and investor interest.

Structure & Formations

The price chart reveals a strong bullish breakout following a consolidation phase below 0.3300. A key resistance level was established at 0.3350, which was briefly tested but not broken. A bearish engulfing pattern appeared at 0.3466, signaling caution in the short term. A notable bullish reversal emerged around 0.3220 in the morning session, which provided a solid support base and helped stabilize the price.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA early in the morning, supporting a short-term bullish bias. For daily data, the 50-day MA at 0.3280 appears to be a critical support level, while the 200-day MA at 0.3210 reinforces the medium-term bullish trend.

MACD & RSI

The MACD crossed above the signal line in the early hours, indicating a strong positive momentum. RSI surged above 55, suggesting moderate strength in the move higher. However, a brief overbought condition near 65 in the late morning signaled caution, with a pullback expected if RSI fails to hold above 55 in the next 24 hours.

Bollinger Bands

Volatility expanded significantly during the late-night surge, with price reaching the upper band at 0.3467. The band width widened from approximately 0.006 to 0.017, suggesting increased uncertainty and potential for further consolidation or reversal.

Volume & Turnover

Volume spiked in two key clusters: one in the early morning (0.3220–0.3280) and a massive one late at night (0.3300–0.3467), coinciding with the price breakout. Notional turnover also surged during the late-night session, confirming the volume-driven move. Divergence between volume and price is minimal, with both metrics reinforcing the bullish trend.

Fibonacci Retracements

Key Fibonacci levels from the recent 0.3188–0.3467 swing are 0.3334 (38.2%), 0.3303 (50%), and 0.3272 (61.8%). The price currently sits near the 50% retracement at 0.3303, suggesting a possible consolidation phase ahead.

Backtest Hypothesis

To evaluate the robustness of potential trading signals, a backtest using Bullish and Bearish Engulfing patterns could be applied to the SFPUSDT chart. By identifying dates when these patterns formed since 2022, we can assess their predictive value in real market conditions. Given the recent late-night surge, detecting a Bullish Engulfing pattern at key support levels could have provided a high-probability entry point. A Bearish Engulfing pattern near 0.3466 would have served as a cautionary signal. If the pattern-detection service is used (Option A), we can refine the strategy further using historical performance metrics.