Market Overview: Steem/Tether (STEEMUSDT) – January 6, 2026

Summary
• Price surged above 0.0735, forming a bullish breakout pattern amid rising volume.
• RSI and MACD suggest growing momentum but remain within neutral zones.
• Volatility expanded with Bollinger Bands, and price closed near the upper band.
• Daily close is above 20-period and 50-period moving averages.

Market Overview

Steem/Tether (STEEMUSDT) opened at 0.0716 on January 5, 2026, and rose to a high of 0.0745 before closing at 0.0738 on January 6, 2026, at 12:00 ET. The 24-hour volume totaled 12,848,824.9 units, with a notional turnover of $94,894.12.

Structure & Formations

Price advanced from a consolidation range below 0.0733 to break above 0.0735, with a bullish engulfing pattern observed near 0.0733 on the 5-minute chart.

The 0.0735–0.0741 range appears to be forming as a new support zone, with 0.0727–0.0731 acting as immediate support.

Moving Averages

On the 5-minute chart, price closed above both the 20- and 50-period moving averages. The 50-period MA appears to be acting as a dynamic support near 0.0731–0.0733. Longer-term daily indicators show a more neutral stance, with the 100- and 200-period MAs still above current price levels.

Momentum & Oscillators

The 12/26 MACD is slightly positive, suggesting continued upward momentum without overextension. RSI is in the upper 50–60 range, indicating moderate bullish pressure but not yet overbought. This suggests the rally remains technically intact for now.

Volatility & Bollinger Bands

Bollinger Bands expanded during the session, with price closing near the upper band, indicating a period of heightened volatility. The widening bands suggest traders may anticipate further directional movement, though confirmation of a breakout to the upside is still pending.

Volume & Turnover

Volume surged notably during the late New York session, particularly between 14:30–15:45 ET, coinciding with the upward move to 0.0745. Notional turnover increased in tandem, supporting the price action and reducing the likelihood of a false break.

Fibonacci Retracements

On the 5-minute chart, price appears to be testing the 61.8% retracement level from the recent 0.0711–0.0735 swing. A close above 0.0742 could indicate further upside potential toward 0.0748, though a pullback to the 0.0731–0.0733 zone is a likely consolidation target.

Steem/Tether appears to be entering a phase of bullish accumulation, with price and volume dynamics aligning in favor of a short-term breakout. Traders may watch the 0.0742–0.0745 range for confirmation of sustained strength. However, a failure to hold above 0.0731 could trigger a reversal, so caution remains warranted in the next 24 hours.