Market Overview for Stratis/Tether (STRAXUSDT) on 2025-10-23

• Stratis/Tether (STRAXUSDT) traded in a tight range, with a 24-hour low of $0.0311 and high of $0.0319.
• A series of bearish 15-minute closes below key support levels suggests short-term pressure.
• Volume increased moderately after 21:00 ET but failed to confirm a strong directional move.
• RSI and MACD indicate weakening momentum, with potential for a pullback or consolidation.
• Bollinger Bands tightened mid-day, hinting at a potential breakout or reversal event.

24-Hour Price and Volume Summary

On October 22, 2025 at 12:00 ET, STRAXUSDT opened at $0.03167 and reached a high of $0.0319 before closing at $0.03156 by 12:00 ET on October 23. The 24-hour low was observed at $0.0311. Total volume for the period was 3.63 million STRAX, with a turnover of approximately $115,780 in notional value.

Structure & Formations

Over the past 24 hours, STRAXUSDT has been oscillating within a defined channel, forming a bearish structure with multiple 15-minute closes below the previous bar’s open. Notably, a potential bearish engulfing pattern emerged after 19:15 ET as the price opened at $0.03136 and closed at $0.03140, forming a small but meaningful bearish signal. A few doji candles appeared between 20:00 and 21:00 ET, indicating indecision. A key support level appears at $0.03124, with resistance forming at $0.03165–0.03170.

Moving Averages and Momentum

The 15-minute chart shows the price consistently trading below the 20-period and 50-period moving averages, signaling short-term bearish bias. On the daily chart, the 50-period MA is at $0.0317, the 100-period MA is at $0.0318, and the 200-period MA is at $0.0319. These levels serve as key dynamic resistances. The MACD line crossed below the signal line during the overnight session, reinforcing bearish momentum. RSI is currently at 45, suggesting a neutral but slightly bearish tone, without entering oversold territory.

Bollinger Bands and Volatility

Volatility saw a contraction mid-day, with the Bollinger Bands narrowing between 19:00 and 21:00 ET, suggesting a potential reversal or breakout event. By 06:00 ET on October 23, volatility expanded again as the price moved closer to the upper band, reaching as high as $0.03186. However, the price failed to sustain above the 20-period MA, and the lower band has acted as a temporary floor at $0.0314–0.0315 during the morning hours.

Volume and Turnover Analysis

Volume remained relatively flat until after 21:00 ET, when it spiked due to a sharp pullback to $0.03118, followed by a rebound. Notably, the largest volume spike occurred at 21:15 ET, where the price dropped to $0.03078, a 1.45% move. However, the volume failed to confirm a strong bearish breakout, suggesting possible short-covering or a false move. Turnover increased in line with volume, particularly during the 21:00–22:30 ET window, which saw the highest notional value traded.

Fibonacci Retracements

Fibonacci retracements from the 24-hour high at $0.0319 to the low at $0.0311 show key levels at 38.2% ($0.03156), 50.0% ($0.0315), and 61.8% ($0.03144). The price is currently consolidating near the 38.2% retracement level, indicating potential for a short-term bounce or further decline depending on the strength of the next move. Daily-level Fibonacci levels suggest the next potential support is at $0.0313 and the key resistance at $0.0317.

Backtest Hypothesis

A potential backtest hypothesis is to evaluate the efficacy of a Morning-Star pattern in STRAXUSDT’s price action. The Morning-Star is a bullish reversal pattern typically appearing at the end of a downtrend and composed of a large bearish candle, a small-bodied candle (doji or spinning top), and a large bullish candle that closes above the midpoint of the first candle. Given the recent price behavior, particularly the indecision seen in doji patterns around 20:00 ET and the rebound after the 21:00 ET low, this could represent a Morning-Star setup. A backtest would need access to precise candlestick data, including the open, high, low, and close values for each candle in the sequence. If confirmed, this pattern could signal a short-term reversal and a potential entry point for long positions.