SPELLUSDT Bounces From Key Support With Bullish Reversal Signal

Summary
• Price action formed key support at $0.0001732 and tested resistance at $0.0001785.
• Volume surged during the $0.0001732–$0.0001785 range, confirming consolidation.
• Momentum shifted during the final 3 hours with a bullish reversal after hitting the daily low.

Spell Token/Tether (SPELLUSDT) opened at $0.0001779 and traded between $0.0001721 and $0.000179 before closing at $0.0001779. Total volume reached 200.2 million, with $35,177.70 in turnover.

Structure & Formations

Price found strong support at $0.0001732 and resistance near $0.0001785. A bullish engulfing pattern formed after the 05:45–06:00 ET 5-minute period, suggesting a short-term reversal in bearish momentum. A doji near $0.0001745 hinted at indecision before the final 3-hour rally.

Moving Averages

On the 5-minute chart, the 20-period moving average crossed above the 50-period line in the last 45 minutes, suggesting a potential shift in momentum. Daily 50/200 MA levels remain unbroken, with price hovering above both.

Momentum & Volatility

RSI moved from oversold (below 30) in the early morning to neutral levels by the close. MACD crossed above the signal line, signaling a potential bullish phase. Volatility expanded during the $0.0001732–$0.0001785 move, with price staying near the upper Bollinger Band during the final 90 minutes.

Volume & Turnover

Volume spiked sharply at $0.0001785 and $0.0001732, indicating key levels of participation. Turnover was consistent with volume, with no notable divergence.

Fibonacci Retracements

A 38.2% retracement level aligned with $0.0001752–0.0001754, which was tested twice but held. The 61.8% level at $0.0001775–0.0001777 appears to be a new consolidation zone.

The pair may test $0.0001785 in the next 24 hours if buyers commit, but a retest of $0.0001752 could occur if momentum wanes. Investors should remain cautious of potential volatility from macroeconomic data and smaller-cap market sentiment shifts.