Theta Network/Tether Market Overview

• THETAUSDT fell to a 24-hour low of $0.730, breaking below key support levels near $0.74.
• High volatility and expanding Bollinger Bands signal increased market uncertainty.
• Strong bearish momentum in RSI and MACD suggests further downside potential.
• Notional turnover spiked to $3.99 million in the final hour of the 24-hour period.
• A long lower shadow in the final candle indicates rejection of bearish pressure, hinting at possible consolidation.

The THETAUSDT pair opened at $0.773 on 2025-10-06 at 12:00 ET and closed at $0.729 on 2025-10-07 at 12:00 ET, reaching a high of $0.784 and a low of $0.730 during the period. Total volume amounted to 5.95 million, while notional turnover was $4.66 million, reflecting significant activity during the late hours of the 24-hour window.

Structure and formations showed a clear bearish bias, with multiple engulfing and bearish reversal patterns appearing after the price broke key support levels. A notable bearish engulfing pattern formed during the 17:00–17:15 ET period as the price moved from $0.779 to $0.775. Later, in the 22:00–22:15 ET window, a bearish pinbar formed at $0.778, confirming weak buying interest.

On the 15-minute chart, the 20-period and 50-period moving averages trended lower, confirming a bearish bias. The daily 50/100/200 EMA showed THETAUSDT below all three, reinforcing the downtrend. RSI dropped below 30 during the late hours, signaling oversold conditions, while MACD remained in negative territory with bearish divergences. Bollinger Bands expanded significantly during the session, especially in the final hours, indicating rising volatility and price extremes. Price consistently hovered near the lower band during this period, suggesting a possible continuation of the downtrend.

The 15-minute Fibonacci retracement levels from the $0.730 to $0.784 move identified key levels at $0.753 (38.2%) and $0.743 (61.8%). The price tested the 61.8% level before breaking through and closing near $0.730. Volume and turnover surged significantly in the final hour, reaching $3.99 million in notional value, aligning with the price drop and confirming bearish momentum. However, the final candle on the 24-hour chart showed a long lower shadow, indicating that buyers attempted to push the price higher but failed, which may signal short-term consolidation or a bounce near $0.730.