SFPUSDT Breaks Key Resistance, Volume Spikes as Bears Take Control

Summary
• Price tested key resistance at 0.2666 and fell to 0.2506, forming bearish patterns.
• RSI and MACD show weakening momentum, with potential overbought to oversold transition.
• Volatility expanded during early hours, followed by consolidation near 0.2508–0.2514.
• Bollinger Bands show narrowing, indicating potential for a breakout or reversal.
• Volume spiked during the 05:45–06:15 ET window, suggesting strong bearish participation.

Market Overview

At 12:00 ET–1 on 2026-02-10, SafePal/Tether (SFPUSDT) opened at 0.2655 and reached a high of 0.2666 before falling to a 24-hour low of 0.2471, closing at 0.2508. Total volume was 636,500 coins, with notional turnover of 15,869.67 USD.

Structure and Key Levels

Price formed a bearish engulfing pattern near 0.2666 and a potential bullish reversal at 0.2506. Resistance levels at 0.264–0.266 and support at 0.2505–0.2515 were tested multiple times. A 61.8% Fibonacci retracement of the 0.2666–0.2471 move is at 0.2543, now acting as dynamic support.

Momentum and Indicators

RSI has moved from overbought (70+) during the afternoon to neutral (40–50) by close, signaling weakening bullish momentum. MACD lines showed bearish crossover during the 06:00–08:00 ET window. The negative divergence between RSI and price during the 05:00–07:00 ET window highlights potential for further downward pressure.

Volatility and Bollinger Bands

Volatility expanded during the early morning hours as the pair broke below 0.2563 and traded as low as 0.2471. Bollinger Bands showed a contraction in the late morning hours (11:30–13:00 ET), followed by a breakout to the downside. Price has since traded in a narrow range within the bands, suggesting a possible pause in volatility.

Volume and Turnover

The most significant volume spike occurred at 05:45–06:15 ET when 55,701 coins were traded, confirming bearish sentiment. Turnover increased by ~30% during this period. Volume and price aligned bearishly in the 05:00–07:00 ET window but diverged slightly in the 10:00–12:00 ET period, where volume was lower despite a sharp price decline.

Looking ahead, the market may test the 0.2505–0.2515 support zone for a potential bounce or continue its downward trend if bears maintain control. A break below 0.2471 would trigger further retracement levels. As always, investors should be cautious and prepared for sudden volatility or unexpected reversals.