Market Overview: Steem/Tether (STEEMUSDT) – November 12, 2025

Summary
• STEEMUSDT edged higher by 0.23% in 24 hours amid a choppy 15-minute price action.
• Bullish divergence in RSI hints at potential oversold recovery.
• Volatility widened post-15:00 ET, with volume surging over 2.4M at peak.
• No clear breakouts above 0.0872 or below 0.0853 in last 24 hours.
• Bollinger Bands expanded, suggesting increased short-term uncertainty.

Price & Volume Snapshot

Steem/Tether (STEEMUSDT) opened at $0.0864 on November 11, 2025 at 12:00 ET, and closed at $0.0882 on November 12, 2025 at 12:00 ET. The pair hit a high of $0.0891 and a low of $0.0832 during the 24-hour period. Total volume was 15.86 million, with notional turnover reaching $1.35 million. The price remains in a tight consolidation channel between 0.0853 and 0.0872, with no decisive breakout yet.

Structure & Formations

The 15-minute chart reveals a mix of bullish and bearish candlestick patterns. A notable Bullish Engulfing pattern appeared at 04:45 ET, suggesting a short-term reversal from a bearish trend. Several Harami and Doji patterns between 15:00 and 19:00 ET signal indecision. Key support levels are found at 0.0853 and 0.084, while resistance sits at 0.0872 and 0.0885. The market appears to be in a consolidation phase with no immediate directional bias.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed over in a death cross pattern early in the 24-hour period, indicating bearish momentum. However, the short-term crossover reversed post 19:00 ET, with the 20SMA rising above the 50SMA, signaling potential bullish momentum. The daily 50/100/200SMA crossover remains neutral with no clear trend formation. The price remains above the 50-period MA but below the 100 and 200, suggesting a sideways bias.

MACD & RSI

The MACD line crossed above the signal line in the afternoon, with a histogram showing divergence suggesting short-term momentum may favor the bulls. However, the RSI (14-period) showed a brief dip into oversold territory around 19:00 ET, reaching 27.7, which could support a rebound above 0.0870. The oscillator has since bounced back into the mid-range, between 48 and 55, indicating a balanced market with no strong overbought or oversold signals.

Bollinger Bands

Bollinger Bands widened in the early afternoon, reflecting increased volatility. Price action remained within the upper and lower bands, with the 20-period SMA running through the midline. The most recent close of $0.0882 is now above the upper band, suggesting potential for a pullback or a continuation depending on volume confirmation. The expansion in volatility appears to be driven by increased buying pressure after 19:00 ET.

Volume & Turnover

Volume spiked to 2.4 million around 05:00 ET, coinciding with a sharp price move up from 0.085 to 0.0857. However, the increase in volume was not matched by a proportional increase in notional turnover, indicating lower liquidity or possibly wash trading. The 15-minute volume profile shows a positive divergence with price from 04:00 to 07:00 ET—higher volumes accompanied higher prices—suggesting possible bullish confirmation.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from 0.0832 to 0.0891, the price has retraced to approximately 61.8% (0.0866) and now appears to be testing the 78.6% level at 0.0878. A break above this level would target the 88.6% extension at 0.0890. On the daily chart, retracement levels from the recent high of 0.0920 to 0.0785 indicate key psychological levels at 0.0853 (38.2%) and 0.0840 (61.8%), both currently acting as support.

Backtest Hypothesis

A backtesting strategy based on Bullish Engulfing patterns over the past three years has produced a negative total return of –48%, with an average loss per trade of –1.5%. The annualized return of –11% and a 52% drawdown suggest the strategy may be insufficient without additional risk management. While the 15-minute chart showed a valid Bullish Engulfing pattern at 04:45 ET, the broader time horizon appears bearish. Integrating stop-loss and take-profit levels or adjusting the holding period may improve results. This highlights the need for a multi-indicator approach when trading such patterns.