Stacks/Tether (STXUSDT) Market Overview

• Price action remains bearish, dropping from 0.664 to 0.645 within 24 hours.
• Volume spiked near 0.655–0.660 but failed to drive a reversal, signaling weak buying interest.
• RSI and MACD show bearish momentum with no sign of overbought conditions.
• Volatility expanded during the session, with price fluctuating between key support/resistance levels.
• 0.643 appears to be a short-term floor, with next support at 0.640 if the downtrend continues.

Opening & Price Action

Stacks/Tether (STXUSDT) opened at 0.664 on 2025-09-16 at 12:00 ET and closed at 0.645 by 12:00 ET the following day. The pair hit a high of 0.666 and a low of 0.642 during the 24-hour period. Total trading volume amounted to approximately 7,536,415.8 STX, with a notional turnover of $4,916,644.54 (based on trade size and closing prices). The price trend suggests a continuation of bearish sentiment over the last 24 hours.

Structure & Formations

The 15-minute chart shows a consistent downtrend, with STXUSDT failing to reclaim key resistance levels such as 0.662 and 0.664. A notable bearish engulfing pattern formed on the 0.666 to 0.662 swing, followed by a long lower shadow on 0.655–0.652, suggesting rejection at 0.655. A doji appeared at 0.645, hinting at potential indecision or a near-term support zone. Key support levels identified include 0.643 and 0.640, while resistance remains at 0.655 and 0.662.

Technical Indicators

The 20-period and 50-period moving averages on the 15-minute chart are both bearish, with prices consistently below both. MACD remains in negative territory with a bearish crossover, and the RSI is trending downward into the oversold region, indicating potential for a temporary bounce but not a reversal. Volatility, as measured by Bollinger Bands, has expanded, with prices fluctuating between the lower and middle bands, signaling increased risk of further declines. Fibonacci retracement levels from the 0.666 high to the 0.642 low suggest 61.8% at 0.649 as a potential resistance, and 38.2% at 0.653 as a retest level.

The pair may find near-term support at 0.643, where a bullish bounce could occur. However, a break below this level would likely target 0.640. Traders should watch for any confirmation above 0.655 for a potential reversal. The risk of continued bearish momentum remains high, especially with volume declining on dips, suggesting weak accumulation. Investors are advised to monitor price behavior at key Fibonacci levels and be mindful of a potential continuation of the bearish bias in the next 24 hours.

Backtest Hypothesis

The backtest strategy involves entering a short position when price breaks below the 50-period moving average on the 15-minute chart, confirmed by a bearish MACD crossover and RSI below 50. A stop-loss is placed at the nearest resistance level (e.g., 0.655) and a target is set at the next Fibonacci support (e.g., 0.643, then 0.640). Given the recent price structure, this strategy aligns with the current bearish trend and could capture continued downward momentum. Historical data suggests that this strategy performs well in trending environments, particularly when volume confirms the direction, as seen in the 0.662–0.666 price range.