Steem/Tether (STEEMUSDT) Market Overview: October 13, 2025

• STEEM/USDT traded in a narrow range but ended higher, suggesting possible buying pressure near key support.
• Price tested the 0.098–0.099 zone multiple times; accumulation appears to be forming in the lower half of the day’s range.
• RSI and MACD suggest waning momentum in the short term but no clear overbought/oversold signals.
• Volume remained relatively stable with no significant divergence from price.
• Volatility as measured by Bollinger Bands is moderate, and price remains within one standard deviation.

Market Summary and Opening–Closing Range

STEEM/USDT opened at 0.0967 at 12:00 ET – 1 on October 12, 2025, reached a high of 0.1011, and a low of 0.0963, before closing at 0.1011 at 12:00 ET on October 13. The total 24-hour volume was 4,638,777.5, with a notional turnover of approximately $464,129. The price action suggests a consolidation pattern around key levels, with buying interest emerging in the lower half of the range.

Structure and Candlestick Patterns

The price of STEEM/USDT showed a series of bullish and bearish consolidations throughout the 24-hour period. A notable bullish reversal pattern occurred near the 0.1002 level around 20:00 ET, where a strong green candle followed a bearish candle. This formed a potential Bullish Engulfing pattern, suggesting short-term buyers stepping in. However, the pattern did not hold through the night, as price retraced slightly.

A doji formed at 0.1001 around 03:30 ET, signaling indecision. The 0.098–0.099 zone appears as a key support level based on repeated rejections and accumulation. The most bearish candle of the session occurred at 21:15 ET, with a high of 0.1003 and a close of 0.1001, indicating profit-taking.

Moving Averages and Fibonacci Retracements

The 15-minute chart showed the price oscillating around the 20-period and 50-period moving averages, with the 50-SMA acting as a dynamic support near 0.098–0.099. On the daily chart, the 50-day and 100-day SMAs are closely aligned, suggesting the asset is in a transitional phase.

Applying Fibonacci retracement levels to the recent 15-minute swing from 0.0963 to 0.1011, the 61.8% level is at approximately 0.0993, which the price touched but failed to hold. The 38.2% retracement level at 0.0986 saw strong volume and price consolidation, suggesting it may serve as a temporary floor.

Momentum Indicators and Volatility

The MACD histogram showed mixed signals, with a slight positive divergence in the morning hours, but the RSI remained within the 40–60 range, indicating a balanced market with no overbought or oversold conditions. The RSI crossed above 50 multiple times but failed to hold above it, suggesting buyers remain cautious.

Bollinger Bands showed a moderate widening as price approached the upper band during the morning hours, followed by a reversion to the mean. Price spent most of the session within one standard deviation, indicating relatively stable volatility.

Volume remained steady with no dramatic spikes, though the 15-minute candle at 13:45 ET saw a large volume of 416,546.7 at 0.1009, suggesting significant accumulation or distribution.

Backtest Hypothesis

To assess the potential profitability of a Bullish Engulfing pattern in STEEM/USDT, a structured backtest is required. Based on the pattern observed today near 0.1002, a 3-day holding-period strategy could be simulated from 2022 to present. This would involve entering a long position upon confirmation of the pattern and exiting three days later.

However, the current dataset does not include historical candlestick pattern data. To proceed, we need a confirmed symbol format for STEEM/USDT that aligns with the data vendor's requirements—such as “BINANCE:STEEMUSDT” or “STEEM/USDT” in TradingView format. Once confirmed, we can retrieve the historical Bullish Engulfing dates and apply the backtest. Alternatively, a sample list of such dates can be provided to begin the testing manually. If necessary, a simpler example using a more widely supported pair like BTC/USDT can be used to demonstrate the methodology before applying it to STEEM/USDT.