Sign/Tether (SIGNUSDT) Market Overview: Volatility, Divergence, and Bearish Momentum

• Sign/Tether (SIGNUSDT) declined to a 24-hour low of $0.03748 amid bearish momentum, closing at $0.03752.
• Key resistance appears near $0.0383, with breakdowns confirming bearish continuation.
• High volume on the 15-minute chart highlights divergence and strong selling pressure.
• RSI and MACD indicate overbought reversal conditions earlier, now turning bearish.
• Bollinger Bands are expanding, signaling increased volatility and potential range break.

Market Dynamics and Candlestick Patterns

Sign/Tether (SIGNUSDT) opened at $0.03856 on October 29 at 12:00 ET and reached a peak of $0.03968 before falling to a low of $0.03748 on October 30 at 12:00 ET. The pair closed the 24-hour period at $0.03752. Total volume for the day was 13,241,889.0, and notional turnover (amount) reached 95. The price action displayed a bearish engulfing pattern, particularly on the 15-minute chart during the late New York trading session, suggesting a potential shift in momentum.

Key Support and Resistance Levels

Strong resistance appears around $0.0383–$0.0385, where prior rejections are visible. On the downside, $0.0375–$0.0376 has shown early support, with a potential next target near $0.0365–$0.0367 based on Fibonacci retracement levels from the recent high. The 20-period moving average on the 15-minute chart currently sits above price, reinforcing the bearish bias, while the 50-period line is in bearish crossover alignment.

Momentum and Volatility Indicators

The RSI is currently in oversold territory at 30, suggesting a potential short-term bounce; however, the MACD histogram has turned negative with a bearish crossover, reinforcing downward bias. Bollinger Bands are widening, indicating rising volatility, with price near the lower band—a classic bearish signal. The divergence between price and volume suggests strong selling pressure, particularly in the late session, as volume spiked during the breakdown.

Volume and Turnover Divergences

The largest volume spike occurred during the 15-minute candle ending at 22:45 ET on October 29, with 773,361.0 units traded. This coincided with a sharp drop from $0.03919 to $0.0384, marking a key pivot point in the bearish leg. The notional turnover also spiked during the breakdown phase, confirming the move with higher conviction. However, subsequent volume has declined, suggesting caution from traders ahead of a potential rebound or further consolidation.

Backtest Hypothesis

The data-retrieval query for “SIGNUSDT” returned an error, indicating that the pair may not be available or supported in the current data source. This could stem from an incorrect ticker format, a lack of historical data, or a listing under a different name on the exchange. To proceed with the backtest of the Bearish Engulfing short strategy, it will be necessary to confirm the correct ticker or switch to a widely available pair such as BTC/USDT or ETH/USDT. Once the correct symbol or event dates are confirmed, a 1- to 3-day holding strategy can be applied to evaluate the effectiveness of the pattern in capturing short-term downside moves.