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Summary
• Price broke above a 0.0002416–0.0002423 consolidation range on rising volume.
• RSI reached 62 near close, indicating potential momentum, but not overbought.
• Late-session divergence in turnover suggests cautious follow-through may be needed.
Spell Token/Tether (SPELLUSDT) opened at 0.0002413 at 12:00 ET–1 and closed at 0.0002433 at 12:00 ET, with a high of 0.0002459 and a low of 0.0002379. Total volume for the 24-hour window was 114,131,787.0, and notional turnover was $27,455.83.
Structure & Formations
Price traded within a 0.0002416–0.0002423 range for most of the session, forming a consolidation pattern. A breakout above 0.0002423 occurred late in the session, with a bullish engulfing pattern appearing at 0.0002423–0.0002426. A bearish doji formed around 0.0002444–0.0002444 at midnight, signaling potential exhaustion in upward momentum.
Moving Averages
On the 5-minute chart, price closed above the 20-period and 50-period moving averages, which were aligned near 0.0002422–0.0002426.

Momentum Indicators
MACD crossed into positive territory after 02:00 ET, reinforcing the breakout. RSI reached 62 near the session close, suggesting moderate bullish momentum without entering overbought territory.
Bollinger Bands
Volatility expanded throughout the session, with Bollinger Bands widening from a 0.0002416 range to a 0.0002459 high. Price closed near the upper band, indicating strong upward bias.
Volume & Turnover
Volume spiked at 23:00 ET and again at 06:30 ET, coinciding with key breakouts. Turnover showed a divergence at 04:45 ET–05:00 ET, where volume increased but price stalled, suggesting potential distribution.
Fibonacci Retracements
A 0.0002379–0.0002459 swing shows key Fibonacci levels at 0.0002428 (38.2%) and 0.0002445 (61.8%). Price closed near 61.8%, suggesting limited room for further bullish follow-through.
Price appears to have broken out of a key consolidation pattern, supported by rising momentum and volume. However, a potential pullback to 0.0002426–0.0002428 could test the validity of the breakout. Investors should watch for follow-through buying above 0.0002433 or signs of profit-taking pressure below 0.0002426.
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