Market Overview for Stratis/Tether (STRAXUSDT): 24-Hour Price Action and Technical Drivers

• Stratis/Tether (STRAXUSDT) closed 2.1% lower at $0.03793, reversing earlier midday gains as volatility increased in the final hours.
• RSI hit oversold levels by 12:00 ET, while volume surged over 5.6 million in the 10:15–10:30 ET timeframe, indicating bearish pressure.
• Key support identified near $0.03735–0.03755, with a bearish engulfing pattern forming around $0.0380–0.03825 in early trading.
• Price remained below the 20-period and 50-period moving averages, reflecting short-term bearish momentum.
• Bollinger Bands widened in the final 6 hours, suggesting increasing uncertainty ahead of key support levels.

Overview of Price and Trading Activity

Stratis/Tether (STRAXUSDT) opened at $0.03869 on September 25, 2025, at 12:00 ET. The pair reached a high of $0.03872 and a low of $0.03732 before closing at $0.03793 at 12:00 ET on September 26. The total traded volume over the 24-hour period was 5,656,588 STRAX, with a notional turnover of approximately $213,727, calculated based on average trade price.

Structure & Formations

The 24-hour candlestick chart revealed a bearish bias, particularly in the late hours of trading. A bearish engulfing pattern formed between $0.0380 and $0.03825, where price opened higher but closed significantly lower. This pattern often signals a reversal in an uptrend or continued bearish momentum. Additionally, a doji formed near $0.03795 in the early morning hours, indicating indecision in the market. Key support levels are identified at $0.03735–0.03755, and resistance at $0.0380–0.03815. A break below the lower support could open the door to further declines toward $0.0370.

Moving Averages and Momentum

On the 15-minute chart, the price remained below both the 20-period and 50-period moving averages for much of the day, reinforcing short-term bearish sentiment. The daily chart showed the 50-period and 200-period moving averages in a bearish crossover configuration, indicating a continuation of the downward trend. The MACD line crossed below the signal line in the early morning, confirming a bearish crossover. RSI hit oversold territory near 28 in the final 4 hours, suggesting a potential short-term rebound could be in the cards if buyers re-enter the market.

Bollinger Bands and Volatility

Bollinger Bands expanded significantly in the final 6 hours of the session, reflecting heightened volatility. Price spent a large portion of the day within the lower half of the bands, reinforcing the bearish narrative. The widening of the bands also suggests increased uncertainty among traders and potential for a break in either direction. If the price breaks the lower band, it could indicate a short-term overreaction, which might attract some contrarian buyers.

Volume and Turnover

Volume surged to 5,656,588 STRAX between 10:15 and 10:30 ET, coinciding with a sharp decline in price to the session's low of $0.03732. This spike in volume occurred without a corresponding drop in turnover, indicating strong bearish conviction. The lack of price-volume divergence suggests that the move was broad-based and not a false breakdown. However, in the final hour, volume cooled off, suggesting a possible temporary exhaustion of the downward move. Traders should watch for a follow-through in volume if the pair breaks key support levels.

Fibonacci Retracements and Key Levels

Applying Fibonacci retracement levels to the most recent 15-minute swing high and low, key levels were identified at 38.2% (~$0.03795), 50% (~$0.03773), and 61.8% (~$0.03750). The 61.8% level coincides with a previous support area. A break below this level could trigger a deeper pullback toward the 78.6% level at ~$0.03720. On the daily chart, the 38.2% retracement level aligns with $0.03765, while the 61.8% level is at $0.03740, both of which are critical for near-term direction.

Backtest Hypothesis

Given the recent bearish momentum and key Fibonacci and support levels identified, a potential backtesting strategy could involve entering short positions on a break of the $0.03755 level with a stop-loss placed just above the 61.8% Fibonacci level at $0.03750 and a target at $0.03732. This approach leverages the observed bearish engulfing pattern and volume confirmation. For long-term traders, a potential reversal strategy could be triggered if RSI breaks above 30 and price retests the $0.03793 level with bullish volume. This would suggest a short-covering rally or accumulation ahead.