Market Overview for Stratis/Tether (STRAXUSDT)

• STRAX/USDT dipped to a 24-hour low of $0.03210, rebounded near $0.03257, but closed at $0.03219, signaling bearish bias.
• Volume increased sharply in the 24-hour window, with turnover spiking near the low, suggesting distribution activity.
• RSI approached oversold territory, but price failed to hold above key swing support levels, indicating weak momentum.
• Price remained below the 20 and 50-period moving averages on the 15-minute chart, reinforcing short-term bearish sentiment.
• Bollinger Bands showed moderate widening at the end of the session, suggesting increased volatility ahead.

Stratis/Tether (STRAXUSDT) opened at $0.03257 at 12:00 ET–1 and reached a high of $0.03288 before closing at $0.03219 at 12:00 ET. The 24-hour period saw a total trading volume of 3,457,652 STRAX and a turnover of $108,547.80, indicating strong trader engagement amid a bearish price drift.

Structure & Formations

Price action on the 15-minute chart showed a bearish bias, with STRAXUSDT failing to hold above a key swing support level near $0.03240, followed by a breakdown to a new 24-hour low of $0.03210. A small-bodied bearish candle at the 22:15–22:30 ET timeframe and a large bearish engulfing pattern from 12:00–12:15 ET the following day confirmed the shift in sentiment. The formation suggests that sellers have taken control and buyers are struggling to re-enter the market.

Moving Averages

On the 15-minute timeframe, the price remained below both the 20 and 50-period moving averages throughout the session. The 20-period line crossed under the 50-period line near $0.03248, signaling a bearish crossover. On the daily chart, the 50-period MA is currently around $0.03230, with the price trading below the 100 and 200-period lines, further confirming a bearish bias in the longer term.

MACD & RSI

The 15-minute MACD remained negative throughout the 24-hour period, with the MACD line dipping into oversold territory. RSI dropped below 30 and briefly tested 20 before a small rebound, suggesting a potential oversold bounce. However, the price failed to confirm this with a strong rally above key levels, indicating a weak reversal signal and continued bearish pressure.

Bollinger Bands

Bollinger Bands reflected moderate volatility, with the bands narrowing in the middle of the session before expanding again toward the close. At one point, the price approached the lower band and briefly touched it, which typically indicates an oversold condition. However, the failure to rebound strongly suggests that the short-term volatility may continue, with a possible breakdown below the 24-hour low in the next 24 hours.

Volume & Turnover

Volume spiked sharply as the price approached the 24-hour low, with a large 15-minute candle at 10:30–10:45 ET contributing $2,920.99 to the turnover. This suggests that selling pressure was concentrated at the lows, likely from profit-taking or stop-loss execution. A divergence between volume and price—where volume increased as the price declined—further reinforced the bearish bias.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from $0.03288 (high) to $0.03210 (low), the price closed near the 78.6% retracement level at $0.03236. This suggests that a test of the 88.6% retracement level at $0.03249 could follow if buyers manage to push the price higher in the next session. On the daily chart, the 61.8% retracement of the broader bear trend is at $0.03228, a level that has already seen price action.

Backtest Hypothesis

Given the observed bearish momentum and key support level failures, a potential backtesting strategy would involve using the MACD crossover and RSI as entry and exit signals. A short position could be initiated when the MACD line crosses below the signal line and RSI enters oversold territory. The stop-loss could be placed slightly above the most recent swing high, while the take-profit target would align with Fibonacci retracement levels. Since the backtesting data for STRAX/USDT could not be retrieved due to data-source constraints, manual computation using the provided OHLC data would be necessary to backtest the strategy effectively.