TRUMPUSDT Fails to Hold Key Resistance After Sharp Afternoon Volume Spike

Summary
• Price tested key resistance near $3.40–$3.45, failing to hold above it after an initial surge.
• Volume spiked sharply during the afternoon ET, but price failed to follow through.
• RSI dipped below 30 in late trading, suggesting potential oversold conditions.
• Bollinger Bands tightened in early morning ET before a sharp expansion at midday.
• A bearish engulfing pattern formed around $3.43–$3.41 after a bullish attempt stalled.

At 12:00 ET–1 on 2026-02-06, the price of OFFICIAL TRUMP/Tether (TRUMPUSDT) opened at $3.531, reached a high of $3.578, and a low of $3.290 before closing at $3.406 at 12:00 ET. The 24-hour volume amounted to 3,968,478.76 units, with a notional turnover of $13,359,356.80.

Structure & Formations

The price formed a bearish engulfing pattern in the late morning ET, signaling a rejection of the $3.43–$3.41 level. A prior bullish attempt near $3.45–$3.50 was met with strong selling pressure. Key support now appears to be forming near $3.30–$3.35, with resistance likely retesting the $3.42–$3.45 range.

Moving Averages and Momentum

The 20-period and 50-period 5-minute moving averages are converging toward the lower end of the Bollinger Band, indicating a shift toward bearish momentum. RSI dipped below 30 during the late ET hours, pointing to oversold conditions, but a lack of follow-through suggests caution is warranted.

Volatility and Turnover

Volatility expanded significantly after 16:15 ET, with a large-volume candle pushing the price up toward $3.45. However, notional turnover failed to confirm the bullish move, and subsequent price action reversed sharply. This divergence suggests traders should be cautious about relying on short-term bullish signals.

Forward-Looking View

In the next 24 hours, a break below $3.30 could trigger a deeper pullback toward the $3.25–$3.28 level. Conversely, a sustained close above $3.45 could rekindle bullish momentum. Investors should remain alert to potential volatility shifts and divergence in volume patterns.