SafePal/Tether (SFPUSDT) Market Overview: 24-Hour Candlestick Review for 2025-10-05

• SafePal/Tether (SFPUSDT) closed at 0.5098 after a 24-hour range from 0.5011 to 0.5191.
• Price formed multiple bullish reversals amid moderate volume, but momentum showed signs of fatigue.
• A key 0.5100 psychological level was tested and retested, showing strong resistance and support behavior.
• Volatility spiked during Asian hours with a sharp rally, followed by consolidation and pullback.
• Notional turnover reached ~$2.54M on the 15-minute timeframe, driven by a late-night breakout and midday dip.

The 24-hour period for SafePal/Tether (SFPUSDT) began at 0.5013 (12:00 ET - 1) and closed at 0.5098 (12:00 ET), with a high of 0.5191 and a low of 0.5011. The total volume traded was ~496,845, while the notional turnover amounted to approximately $2.54 million. Price action over the session showed a bullish bias during the Asian and European sessions, with a bearish consolidation during the North American hours.

Structure & Formations

The price action displayed a clear bullish impulse in the early morning hours, forming a strong 0.5086–0.5161 ascending trend, followed by a bearish correction that returned to 0.5076. Key support levels were seen at 0.5061 and 0.5045, while 0.5100 acted as a psychological pivot point that was tested four times during the session. Notable candlestick patterns included a bullish engulfing pattern at 0.5060–0.5076 and a bearish harami at 0.5126–0.5098, indicating potential reversals at both ends of the range.

Moving Averages

On the 15-minute timeframe, the 20-period MA moved above the 50-period MA during the Asian session, reinforcing a short-term bullish bias. The 50-period MA acted as dynamic support during the pullback to 0.5076. On the daily chart, the 50-period MA is currently above the 100-period MA, with the 200-period MA providing a broad floor near 0.5030, suggesting that any further decline may find structural support.

MACD & RSI

The MACD histogram displayed positive momentum during the Asian breakout, with the line crossing above the signal line at 0.5060–0.5076. However, the RSI reached overbought territory above 65, suggesting a potential short-term correction. The RSI later dipped into oversold territory during the 0.5045–0.5066 pullback, signaling a possible rebound. These readings imply that while there is still bullish potential, caution is warranted as overbought conditions may trigger a retracement.

Bollinger Bands

Bollinger Bands expanded significantly during the morning hours as the price moved from 0.5086 to 0.5161, indicating rising volatility. Price then consolidated within the bands until the afternoon hours, where it broke below the midline and hovered near the lower band at 0.5075–0.5095. The upper band reached 0.5161 at its peak, showing a 1.6% volatility range for the session.

Volume & Turnover

Volume spiked during the early morning Asian session (024500–030000 ET), coinciding with the breakout to 0.5161, with a volume of ~32,148. A second volume spike occurred in the afternoon (144500–150000 ET) as the price dropped from 0.5116 to 0.5077, with ~28,922 volume. However, price did not close at the low, suggesting bearish uncertainty. The overall volume profile showed a balanced distribution, with no clear divergence between volume and price action.

Fibonacci Retracements

Fibonacci retracement levels based on the morning high (0.5161) and subsequent low (0.5076) indicated a 38.2% retracement at ~0.5115 and a 61.8% level at ~0.5090. These levels were both tested during the afternoon consolidation and again in the evening hours, with the price closing just above 0.5098. This suggests that the 0.5090 level could act as a key support going into the next 24 hours.

Backtest Hypothesis

Given the observed behavior around key Fibonacci and moving average levels, a potential backtesting strategy could involve entering long positions on a confirmed close above the 0.5100 psychological level during Asian hours, with a stop below 0.5090 and a target at the 0.5115 Fibonacci retracement level. This would align with the observed bullish momentum seen during the morning breakout and the strong support at 0.5098. The strategy could be further refined by incorporating RSI divergence signals to time entries more precisely.