Market Overview for Space and Time/Tether (SXTUSDT)

• Price fell 3.7% over 24 hours, closing near 0.0556 after a bearish trend.
• Key support levels tested at 0.0555 and 0.055, with resistance at 0.0563.
• Volume spiked late in the session, but price failed to follow through.
• RSI indicates oversold conditions, suggesting potential for a bounce.

At 12:00 ET–1 on October 21, 2025, Space and Time/Tether (SXTUSDT) opened at $0.0598. The pair reached a high of $0.0604 and a low of $0.0547 before closing at $0.0556 at 12:00 ET on October 22. Total volume for the 24-hour window was 6,322,153.03, with a notional turnover of $349,485.38. The price trend was bearish, with a clear breakdown below key support levels and weak follow-through buying.

The price action formed several bearish signals over the past 24 hours, including a bearish engulfing pattern and a long lower shadow that signaled rejection at higher levels. The 20-period and 50-period moving averages on the 15-minute chart both dipped below price levels, reinforcing the downward momentum. Additionally, a breakdown below the 0.056 level marked a key support zone that now acts as a new resistance.

Volatility and Momentum

The MACD line crossed below the signal line late in the session, confirming a bearish bias. RSI dipped into oversold territory (around 31), suggesting the pair could face a short-term bounce. However, this may not be enough to trigger a reversal unless volume increases significantly. Bollinger Bands showed a moderate expansion in the latter half of the session, with price trading near the lower band, indicating heightened bearish volatility.

Fibonacci retracement levels from the most recent 15-minute swing (0.0589 to 0.0547) suggest key levels at 38.2% (0.0565) and 61.8% (0.0553), both of which are currently being tested. On the daily chart, the 50-period SMA (0.0561) and 200-period SMA (0.0569) provide additional resistance above current levels. Price is likely to remain range-bound or continue lower unless buyers step in at the 0.055 support level.

Backtest Hypothesis

Given the bearish engulfing pattern observed on the 15-minute chart, a potential backtesting strategy could involve entering a short trade upon confirmation of the pattern and exiting based on the next day’s close. This approach aligns with the observed bearish momentum and weak follow-through buying. Alternatively, a stop-loss could be placed just above the 0.0563 level, while a take-profit target could be set near 0.0547. A longer-horizon backtest could evaluate the effectiveness of these signals over multiple cycles.