Stacks/Tether Market Overview for 2025-10-03

• STX/USDT broke above key resistance at $0.62 and retested it as support, suggesting bullish momentum is gaining control.

• Volume surged during the final 4 hours, aligning with price action and confirming strength in the $0.622–$0.625 range.

• RSI reached overbought territory late in the session, signaling potential consolidation or pullback in near-term volatility.

• A 15-minute bearish engulfing pattern at $0.622–$0.623 may act as a short-term cautionary sign.

• Volatility expanded with price reaching from $0.609 to $0.625, showing increased conviction in directional movement.

15-Minute Market Summary

Stacks/Tether (STXUSDT) opened at $0.607 on 2025-10-02 at 12:00 ET and closed at $0.613 on 2025-10-03 at 12:00 ET, with a high of $0.625 and a low of $0.609. Total volume reached 2.06 million STX over 24 hours, with turnover amounting to $1,294,895. The asset displayed a volatile yet generally upward trend, with price finding critical support at $0.616 and resistance at $0.625 during the session.

Structure & Formations

The candlestick pattern over the past 24 hours shows a series of bullish divergences and retests of key levels. The price broke above the $0.62 resistance with a strong bullish candle and later retested that level as support, reinforcing its significance. A bearish engulfing pattern emerged near $0.622, suggesting a possible short-term pause in the upward trend. Key support levels include $0.616 and $0.609, while resistance is currently clustered around $0.622–$0.625.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart indicate a bullish crossover late in the session, suggesting momentum is tilting in favor of the bulls. On the daily chart, the 50-period MA is approaching the 100-period MA from below, hinting at a potential trend shift.

MACD & RSI

The MACD histogram showed a strong positive expansion in the final 4 hours, confirming the bullish breakout. RSI reached overbought levels late in the session, which may suggest a short-term pullback is imminent. However, divergence in the RSI has not yet appeared, indicating the trend may not be exhausted.

Bollinger Bands

Price action expanded the Bollinger Bands significantly in the afternoon, with the asset trading near the upper band at $0.625. The contraction earlier in the session indicated a period of consolidation before the breakout. Price remains above the 20-period MA, staying within the upper half of the bands.

Volume & Turnover

Volume spiked in the final 4 hours of the session, particularly between 15:45 ET and 16:00 ET, as price reached a high of $0.625. This increase in volume is aligned with the price action, confirming the strength of the move. Turnover also rose sharply during the same period, indicating increased participation and conviction in the bullish move.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from $0.609 to $0.625 shows key retracement levels at $0.616 (38.2%) and $0.612 (61.8%). The price held above the 61.8% level during the consolidation phase and later broke above the 38.2% level with a strong close above $0.613.

Backtest Hypothesis

The backtest strategy described involves entering long positions on a bullish engulfing pattern confirmed by a break above key resistance levels, with a stop-loss placed below the most recent support. A take-profit target is placed at the next Fibonacci retracement level above the breakout. This approach aligns with the recent price action and may capture the continuation of the bullish trend. However, the bearish engulfing pattern near $0.622 could serve as a signal to exit or adjust the strategy, particularly if RSI shows signs of overbought divergence.