Sahara AI/Tether Dips After Bearish Reversal Near 0.0161

Summary
• Price retreated after forming a bearish engulfing pattern near 0.0161.
• Volatility expanded, with volume spiking over 6 million contracts near the session high.
• RSI indicates oversold conditions, suggesting possible short-term rebound.

Market Overview

At 12:00 ET on 2026-02-07, Sahara AI/Tether (SAHARAUSDT) opened at 0.01578, reached a high of 0.0164, a low of 0.01524, and closed at 0.01524. Total volume traded in the 24-hour window was approximately 58,051,203 contracts, with notional turnover totaling around $939,321.

Structure and Patterns

The 5-minute chart shows a bearish engulfing pattern forming at 0.0161, signaling a potential reversal after a brief bullish breakout. Price later tested a key support near 0.0156 and held, forming a bullish doji. Key resistance levels appear around 0.0161–0.0164, with 0.0156–0.0157 acting as short-term support.

Moving Averages

The 20-period and 50-period moving averages on the 5-minute chart are both above current price levels, reinforcing a short-term bearish bias. On the daily chart, the price remains below the 50, 100, and 200-day moving averages, indicating a broader bearish trend.

Momentum and Volatility

MACD turned negative during the Asian and European sessions, confirming bearish momentum. RSI approached 30, suggesting oversold conditions and possible short-term bounce. Bollinger Bands showed a widening after a brief contraction, indicating rising volatility.

Volume and Turnover

Volume surged over 6.7 million contracts during the early New York session, coinciding with the high near 0.0164. Turnover was in line with this volume, with no notable divergence between price and turnover. This suggests the bearish move had broad participation and was not a false breakdown.

Fibonacci Retracements

Fibonacci retracements drawn from the recent 5-minute swing high at 0.0164 to the low at 0.01524 indicate 38.2% at 0.01596 and 61.8% at 0.01561, which have shown support and resistance. The daily move from the prior high suggests a larger retracement level at 0.0158–0.0159 as potential resistance.

Forward-looking, the market may test key resistance near 0.0161 and the 0.0164 high if buyers re-enter. However, risks remain skewed to the downside as bearish momentum remains intact. Investors should monitor the 0.0156 support level and watch for any divergence in volume or RSI.