Market Overview for STEEMUSDT – 2025-09-27

• STEEMUSDT surged 0.54% in 24 hours, breaking key resistance near 0.1175.
• High volume confirmed the breakout with no clear bearish reversal signs.
• Volatility expanded during the session, with Bollinger Bands widening.
• RSI edged into overbought territory at 65, suggesting near-term caution.
• No strong divergence between price and turnover, indicating robust bullish momentum.

The STEEMUSDT pair opened at 0.1162 on 2025-09-26 at 12:00 ET and closed at 0.1176 on 2025-09-27 at 12:00 ET, reaching a high of 0.1183 and a low of 0.1162. Total volume for the 24-hour period was 1,720,054.4 units, with a notional turnover of approximately $196,532.63.

Structure & Formations

Price action formed a bullish breakout pattern as STEEMUSDT moved above the 0.1175 psychological level, previously acting as a resistance. A series of higher highs and higher lows confirmed the uptrend. A few notable bullish engulfing patterns appeared near 0.1172 and 0.1178, reinforcing the bullish sentiment. A doji near 0.1183 hinted at a potential short-term pause. Key support levels include 0.1172 and 0.1168, while resistance is now 0.1183 and the 0.1185 psychological level.

Moving Averages and MACD

On the 15-minute chart, the 20-period and 50-period moving averages are in a bullish alignment, with price sitting comfortably above both. The MACD line showed a positive divergence with the signal line, indicating growing upward momentum. The histogram expanded during the late trading hours, confirming the strength of the rally.

RSI and Bollinger Bands

The RSI approached 65, entering overbought territory, which could signal a near-term pullback. However, the divergence between price and RSI was not significant, suggesting that bullish buyers are still in control. Bollinger Bands widened during the breakout phase, reflecting increased volatility. Price remains above the upper band at times, indicating strong conviction in the upward move.

Volume & Turnover

Volume spiked during the breakout phase, particularly around the 0.1172–0.1183 range, with high notional turnover confirming the strength of the move. No significant divergence was observed between volume and price, reinforcing the likelihood of a sustained rally. However, caution is warranted as the RSI suggests overbought conditions and a possible consolidation phase ahead.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent swing from 0.1162 to 0.1183, key levels to watch include the 61.8% retracement at 0.1173 and the 38.2% at 0.1178. Price has already retested 0.1173 and bounced, suggesting that the 0.1178–0.1183 range could act as a near-term ceiling. A break above 0.1185 would validate a deeper bullish bias.

Backtest Hypothesis

A potential strategy could involve entering long positions on bullish breakout formations confirmed by higher volume and MACD divergence. A long entry could be placed near the 0.1175–0.1178 level with a stop-loss below 0.1172 and a target at 0.1183. The RSI's overbought condition suggests that a pullback may offer a better entry opportunity rather than chasing the current move. This aligns with the recent volume and price action, which showed a strong preference for buying at dips.