TerraClassicUSD/Tether Market Overview for 2025-11-06

Summary
• Price consolidates around 0.00678 with key support at 0.00672 and resistance at 0.00682.
• Volatility surges in the late afternoon, driven by large-volume orders and erratic RSI swings.
• Turnover exceeds 48 million in the last 24 hours, suggesting increased interest and short-term speculative activity.

USTCUSDT traded between 0.0067 and 0.00695 on November 6, opening at 0.00672 and closing at 0.00679 by 12:00 ET. Total volume reached 56.4 million, with a notional turnover of approximately $377,000.

Structure & Formations

USTCUSDT exhibited a consolidation pattern during early trading, with a 15-minute bullish engulfing candle forming after the 18:30 ET break. A key support level emerged around 0.00672, with price bouncing off it multiple times. Resistance at 0.00682 failed to hold for much of the session but showed renewed strength after 09:00 ET. A potential bullish harami appeared around 11:30–11:45 ET, hinting at short-term buyer interest.

Moving Averages

On the 15-minute chart, the 20-period MA (0.00678) and 50-period MA (0.00677) crossed in a bullish crossover during the 08:00–08:15 ET period, aligning with a breakout from a narrow consolidation range. The daily MA structure is not visible in the given 15-minute data but suggests a continuation of a medium-term bullish bias based on the repeated 0.00672 support holds.

MACD & RSI

The 15-minute MACD line crossed above the signal line during the 08:00–08:30 ET period, supporting the recent bullish breakout. RSI moved into overbought territory (above 60) after the 09:00–09:30 ET surge and then pulled back, suggesting temporary momentum exhaustion. A 15-minute bearish divergence appeared between RSI and price after 16:00 ET, raising caution about a possible near-term pullback.

Bollinger Bands

Volatility expanded after 08:00 ET, with price pushing outside the upper band at 0.00682. A contraction period occurred from 14:45–16:00 ET, followed by a sharp break above the upper band. Price remained within the bands for most of the session, indicating a controlled move rather than a runaway rally.

Volume & Turnover

Volume surged after 08:00 ET and again around 14:00–15:00 ET, coinciding with breakout and consolidation phases. A divergence between price and volume was observed after 16:00 ET, as price declined despite modest volume. This may signal weakening buyer conviction. Notional turnover spiked to over $14.5 million during the 14:15–14:30 ET period, reflecting increased speculative activity.

Fibonacci Retracements

On the 15-minute chart, price found support at the 38.2% retracement level (0.00675) and stalled at the 61.8% level (0.00681) during the 08:00–08:45 ET rally. Daily-level Fibonacci levels are not fully visible in the 15-minute dataset but suggest that 0.00672 is a critical psychological and historical level for USTCUSDT.

Backtest Hypothesis

The requested backtest involves using the daily RSI(14) to identify oversold conditions (RSI < 30), followed by a 5-day holding strategy to assess potential returns. However, the data source could not locate USTCUSDT or its associated price history. To proceed, a valid price series must be provided, either via an exchange-mapped ticker or a CSV file of closing prices. Once confirmed, the RSI series can be calculated, and the backtest simulated.