Stacks/Tether (STXUSDT) Market Overview

• Price surged from $0.642 to $0.692, closing near the high amid strong bullish momentum on 24-hour STXUSDT.

• Volume spiked sharply during the rally, peaking at 231,979 STX as price approached $0.689, confirming buying interest.

• RSI hit overbought territory, indicating potential pullback risks, while MACD remained bullish with a strong histogram.

• Bollinger Bands expanded, reflecting heightened volatility, with price spending most of the session outside the upper band.

• Fibonacci retracement levels at 61.8% ($0.686) acted as a key support during pullbacks, reinforcing bullish trend strength.

Stacks/Tether (STXUSDT) opened at $0.642 on 2025-09-17 12:00 ET and surged throughout the day, reaching an intraday high of $0.692 before closing at $0.692 on 2025-09-18 12:00 ET. The total traded volume was approximately 2,173,490 STX, with notional turnover amounting to ~$1,448,000 over the 24-hour period. The pair displayed strong bullish momentum and a sharp move higher, supported by increasing volume and bullish candlestick formations.

Structure & Formations

The 15-minute chart shows a clear bullish continuation pattern with strong engulfing candles forming around $0.675 and $0.685. These formations confirm buying pressure and indicate that long-side momentum is intact. A key resistance level was observed at $0.69, where price paused briefly before pushing higher. A Doji formed at $0.686, suggesting a potential short-term consolidation phase. The support level at $0.683 appears to have held during minor pullbacks, reinforcing the strength of the rally.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed to the upside in the early morning, confirming a strong bullish bias. The daily timeframe shows the 50-period and 100-period MAs trending higher, while the 200-period MA remains below the price, indicating the pair is in a healthy uptrend. Price has remained above all key moving averages for most of the session, suggesting strong trend strength and minimal bearish risk for now.

MACD & RSI

The MACD histogram showed a broad expansion during the morning and early afternoon, indicating increasing bullish momentum. The RSI closed at around 70, entering overbought territory, which could suggest a near-term pause or consolidation. However, given the strong volume and bullish candlestick action, a continuation is still possible if the RSI holds above 60 in the next 24 hours. The combination of MACD above zero and RSI in overbought territory reflects a strong, if not slightly extended, bullish momentum.

Bollinger Bands

Bollinger Bands expanded significantly during the rally, with price moving well above the upper band at key moments. This expansion phase suggests increased volatility and strong directional movement. Price has spent most of the session outside the upper band, indicating high conviction among buyers. A contraction phase may follow if the momentum slows, but for now, the bands remain wide and the trend remains intact.

Volume & Turnover

Volume surged notably during the rally, peaking at 231,979 STX during the candle that closed at $0.684, confirming strong participation from longs. Notional turnover also increased during these periods, aligning well with the price action. A divergence was noted in the early morning, where volume dipped slightly while price continued to rise, but this was quickly resolved with a large volume candle confirming the bullish move. The lack of bearish divergence supports the view that the uptrend remains intact.

Fibonacci Retracements

Fibonacci levels showed that 61.8% retracement at $0.686 acted as a key support level, with price bouncing off it and continuing higher. The 38.2% retracement at $0.680 also held during minor pullbacks. On the daily chart, the 61.8% retracement from a recent dip to $0.645 at around $0.673 provided another layer of support, which has now become a short-term floor. These levels could serve as potential profit-taking opportunities or entry points for new longs.

Backtest Hypothesis

The backtest strategy involves long entries on bullish engulfing patterns forming above a key support level, confirmed by volume spikes and MACD divergence. Based on today's action, a strategy entering on the bullish engulfing pattern at $0.675 with a stop loss below $0.670 and a target at $0.690 would have captured a ~140 basis points move in favor. This aligns with today's observed behavior, where the 15-minute engulfing candle at that level was followed by a strong continuation. A trailing stop approach could have locked in gains while staying with the trend.

Outlook & Risk Consideration

Looking ahead, Stacks/Tether is likely to test key resistance at $0.695–$0.697, where a pullback or consolidation may occur, especially if RSI fails to stay above 60. Traders should monitor the MACD histogram for any sign of weakening and watch for volume contractions that could signal exhaustion. While the immediate trend remains bullish, overbought conditions and a potential overextension increase the risk of a short-term correction or consolidation. Investors should remain cautious and use key levels like $0.686 and $0.673 as potential stops or entry points for new positions.