Stacks/Tether Market Overview

• STX/USDT rose 7.1% in the past 24 hours, driven by a breakout above key resistance around 0.645.
• Volume spiked significantly in the early evening (ET), confirming bullish momentum.
• RSI crossed into overbought territory (above 65), suggesting a potential short-term pullback.
• Bollinger Bands widened, indicating rising volatility and heightened speculative activity.
• A bullish engulfing pattern formed around 0.642–0.645, signaling a strong reversal from prior bearish pressure.

Market Overview

Stacks/Tether (STXUSDT) opened at $0.642 on 2025-09-17 at 12:00 ET and reached a high of $0.687 before closing at $0.686 on 2025-09-18 at 12:00 ET. The pair traded within a range of $0.642–$0.687, with a 24-hour trading volume of approximately 1.9 million STX and a notional turnover of $1.3 million.

The price formation over the last 24 hours featured a clear bullish breakout above the 0.645–0.646 level, followed by a consolidation phase near the 0.68 level. A key bullish engulfing pattern emerged around 0.642–0.645, indicating a reversal of bearish pressure into bullish momentum. Additionally, a morning session pullback was met with strong buying interest, leading to a retest of the upper band of the Bollinger Bands, confirming elevated volatility.

Structure & Formations

Support levels at 0.642–0.644 and 0.673–0.675 were tested and held, with the latter showing stronger resilience. Resistance levels at 0.68–0.682 and 0.686–0.687 have become recent consolidation points. The candlestick structure included several large-bodied bullish formations, particularly between 0.67 and 0.686, suggesting accumulation in the higher range. A doji near 0.680–0.682 and a long-tailed bullish candle at 0.682–0.686 signal potential short-term indecision.

Moving Averages

On the 15-minute chart, the 20 EMA and 50 EMA are in a bullish crossover, with the 20 EMA above the 50 EMA, reinforcing the upside bias. The daily chart shows the 50 EMA rising through the 200 EMA, forming a potential golden cross. This aligns with the intraday bullish momentum and suggests continued accumulation is likely.

MACD & RSI

The MACD line and signal line crossed above zero in the afternoon, confirming bullish momentum. The histogram showed increasing divergence, with a positive peak at 0.686. RSI reached 68–69 at the end of the session, signaling overbought conditions and a potential short-term pullback to the 0.67–0.675 support zone.

Bollinger Bands have widened from a narrow 0.64–0.66 range to 0.64–0.687, reflecting increased volatility and speculative activity. Price has remained within the upper half of the bands for much of the session, indicating bullish sentiment.

Volume & Turnover

Trading volume surged to $68k in a 15-minute window around 0.682, confirming the breakout. Notional turnover also showed a positive divergence with price, rising to $1.3m in the 24-hour period. A significant portion of the volume occurred in the 0.675–0.685 range, aligning with the consolidation and breakout pattern.

Fibonacci Retracements

A 24-hour swing from 0.642 to 0.686 was analyzed using Fibonacci retracement levels. The 0.666 (38.2%) and 0.677 (50%) levels coincided with strong volume and price consolidation. The 0.686 high sits at the 100% level, suggesting a potential target for a retracement if buyers continue to push higher.

Backtest Hypothesis

Given the current technical setup, a potential backtest strategy could focus on entries during confirmed breakouts above the 0.68 level with a stop-loss just below the 0.675–0.673 consolidation range. A target of 0.695–0.70 aligns with the 1.618 Fibonacci extension and the upper end of the recent Bollinger Band. This strategy would benefit from tight risk-reward ratios, especially if MACD divergence remains positive and RSI continues to trend upward.

Looking ahead, STX/USDT may test the 0.695–0.70 level as a next target, but a pullback to the 0.673–0.675 support zone could occur if overbought conditions trigger profit-taking. Investors should monitor volume and RSI for signs of exhaustion or renewed buying pressure. As always, price action and volatility are subject to macroeconomic and broader market influences.