Sign/Tether (SIGNUSDT) Market Overview

• SIGNUSDT opened at 0.11164, dropped to 0.09682 before rebounding, and closed near 0.09954 in 24 hours.
• Price action shows bearish bias with oversold RSI and divergences in volume and price.
• Volatility expanded following sharp 0.12985 high, followed by consolidation and retesting of key levels.
• Bollinger Bands indicate contraction in the early morning, hinting at a potential breakout.
• 20-period MA failed to support price, suggesting bearish momentum likely to continue in the near-term.

Sign/Tether (SIGNUSDT) opened at 0.11164 (12:00 ET–1), reached a high of 0.12985, a low of 0.09682, and closed at 0.09954 (12:00 ET). Total volume for the 24-hour period stood at 413,186,372.0, with notional turnover reflecting significant volatility. The price action featured a strong bearish reversal from the 0.12985 peak, followed by a consolidation phase in the 0.099–0.102 range.

The structure of the 15-minute OHLC data reveals a bearish trend dominated by lower highs and lower lows. A bearish engulfing pattern emerged around the 0.12985 high, followed by a broad consolidation phase. Key support levels appear at 0.09954 and 0.09682, both of which were retested without significant rejection. Resistance remains at 0.102–0.103, with failed attempts to break above observed in the early morning session.

On the indicators front, the 20-period and 50-period moving averages on the 15-minute chart both sit above the current price, reinforcing the bearish bias. MACD showed a bearish crossover in the late evening hours, confirming a shift in momentum. The RSI reached 25–30 levels in the early morning, indicating oversold conditions, though the price failed to break higher following these levels. Bollinger Bands reflected a period of contraction before the 0.09682 low, suggesting a potential breakout either higher or lower in the near term.

The volume profile shows strong selling pressure around the 0.12985 high, with a sharp increase in volume as the price dropped toward 0.09682. Turnover diverged from price during the consolidation phase, suggesting weakening conviction in bearish momentum. Fibonacci retracements on the recent swing from 0.12985 to 0.09682 indicate key levels at 38.2% (~0.1085) and 61.8% (~0.1137), both of which have been tested and rejected. The 0.09954 level aligns with the 23.6% retracement, offering a short-term floor.

Backtest Hypothesis
A potential backtesting strategy could involve entering short positions at the 61.8% Fibonacci level (~0.1137), with a stop-loss just above the 78.6% level (~0.1220) and a target at the 38.2% level (~0.1085) or lower. Given the bearish divergence in MACD and RSI, combined with volume spikes during the sell-off, this strategy may have shown positive expectancy in historical conditions similar to the current price structure. A long bias could be considered near the 38.2% level with a trailing stop below key support levels. The recent consolidation in the 0.099–0.102 range could also be a setup for a breakout strategy, favoring shorts if the price breaks below 0.09954 with confirmation by volume and RSI.