Market Overview for Stratis/Tether (STRAXUSDT): 24-Hour Summary (2025-10-04)

• STRAXUSDT traded in a narrow range, forming a key consolidation pattern near 0.0400.
• Momentum slowed in late hours, with RSI approaching oversold territory.
• Volatility contracted sharply overnight, suggesting potential for a breakout.
• Bollinger Bands narrowed to lowest levels since 02:00 ET, indicating coiling pressure.
• Volume decreased in early morning hours, but turnover spiked briefly after 04:00 ET.

Stratis/Tether (STRAXUSDT) opened at 0.03998 on October 3 at 12:00 ET and closed at 0.03945 the following day. The 24-hour high was 0.04048, and the low was 0.03926. Total volume was 11,229,575 STRAX, with a turnover of $445,315. The price action shows a bearish bias, particularly in the final hours of the period, as buyers failed to reclaim key levels above 0.04.

Structure & Formations

The price structure over the past 24 hours reveals a bearish consolidation pattern with a descending triangle forming between 0.04043 and 0.03926. Key support levels include 0.03979 (touched four times) and 0.03945 (most recent close), while 0.04016 serves as a key resistance level that failed to hold. A notable bearish engulfing pattern formed at 0.04021–0.04014 on October 3 at 17:15 ET, confirming the loss of bullish momentum. A doji appeared at 0.04003 on October 4 at 02:00 ET, signaling indecision in the short term.

Moving Averages

On the 15-minute chart, the 20-period MA currently sits at 0.04000, while the 50-period MA lags behind at 0.03994, showing a bearish crossover. For the daily chart, the 50- and 200-day MAs are not included in the dataset, but given the 15-minute MA trend, it’s likely that the price remains below the 200-day MA, indicating a bearish bias in the medium term.

MACD & RSI

The MACD line crossed below the signal line near 0.00005 on October 4 at 03:00 ET, reinforcing bearish momentum. The RSI currently sits at 38, suggesting the pair is nearing oversold territory but not yet reaching it. This may indicate a temporary pause in the downward move but not a reversal. Momentum has been gradually fading, with bearish divergence between price and RSI in the final hours.

Bollinger Bands

Bollinger Bands have narrowed significantly between 04:00 and 05:00 ET, with the price hovering near the lower band at 0.03928. This contraction often precedes a breakout or breakdown and may indicate increased volatility in the near term. The narrowing bands also suggest that traders have been range-bound for the last 18 hours, adding to the likelihood of a near-term price break.

Volume & Turnover

Volume saw a sharp increase after 19:00 ET and again from 04:00 to 05:00 ET, coinciding with a price drop below 0.0396 and into the 0.03926 level. Turnover, while lower than usual for a major pair, spiked to a 24-hour high at 0.04008, indicating some accumulation or dumping pressure. However, the divergence between volume and price during the morning hours suggests weak conviction on the part of buyers.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute swing from 0.04048 to 0.03926 shows the 38.2% level at 0.03977 and the 61.8% level at 0.03956. The price briefly tested the 38.2% level before breaking lower. The 61.8% level is now acting as key support, and a rejection here could signal a rebound or further bearish pressure, depending on volume and momentum.

Backtest Hypothesis

A backtesting strategy could involve entering a short position on a breakout below the 61.8% Fibonacci level (0.03956) with a stop-loss above the 38.2% level (0.03977). A target for the short trade could be the next Fibonacci level at 0.03935, or further into the consolidation range. The RSI crossing into oversold territory and the bearish divergence in the final hours suggest that this strategy might benefit from a trailing stop once a directional bias is confirmed. This approach leverages both price structure and momentum indicators to time entries and manage risk effectively.