Stratis/Tether (STRAXUSDT) 24-Hour Market Overview

• STRAXUSDT closed lower near key support, with bearish momentum and declining turnover.
• A potential bearish reversal pattern emerged in late-day 15-min candles, with RSI signaling oversold conditions.
• Volatility remained compressed within a tight Bollinger Band range, suggesting a potential breakout.
• Volume was unevenly distributed, with strong buying pressure in early ET hours and weak selling in overnight sessions.
• Fibonacci levels hint at possible support at 0.0302–0.0304 and resistance at 0.0305–0.0306, aligning with recent swings.

Stratis/Tether (STRAXUSDT) opened at 0.03053 at 12:00 ET-1 and traded between 0.03011 and 0.03068, closing at 0.03056 at 12:00 ET. Total 24-hour volume reached 5,364,360.0 with a notional turnover of approximately $163,930. Price action has shown a bearish bias amid declining momentum and a potential reversal forming on the hourly chart.

Structure & Formations

The price has tested a descending triangle pattern on the 15-minute chart, with a clear upper resistance at 0.03065 and lower support near 0.03020. A bearish engulfing pattern emerged after the 22:45 ET candle, confirming weakening bullish sentiment. Additionally, a doji near 0.03033 suggests indecision in the overnight session, reinforcing the potential for a directional shift.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both in a bearish alignment, with the 50SMA below the 20SMA. The 200-period daily moving average remains above the current price, indicating a long-term bearish trend amid short-term consolidation. This divergence suggests a cautious approach to buying, with bearish momentum gaining strength.

MACD & RSI

The 15-minute MACD has crossed below the zero line and is trending lower, aligning with bearish momentum. RSI has fallen into oversold territory (below 30) for much of the session, suggesting a potential rebound near 0.0303–0.0304. However, the RSI remains below 50, indicating that bearish pressure is still dominant, and a bullish reversal may not be imminent.

Bollinger Bands

Price has remained tightly within the Bollinger Bands for most of the 24-hour period, with volatility at its lowest observed level. The bands have not expanded, indicating a continuation of range-bound trading. A breakout above 0.03065 or below 0.03020 could trigger a sharp move in either direction, especially if volume confirms the move.

Volume & Turnover

Volume spiked in the early ET session (between 17:00 and 19:00 ET) with heavy selling pressure, followed by a sharp decline in overnight volume. Notional turnover mirrored volume trends, with a notable divergence in the final hours—price dropped as volume waned. This suggests a lack of conviction in bearish follow-through, potentially foreshadowing a near-term reversal.

Fibonacci Retracements

Applying Fibonacci levels to the most recent 15-minute swing (0.03020 to 0.03068), the 61.8% retracement level is at approximately 0.03045, and the 38.2% level is near 0.03037. On the daily chart, key support aligns with the 61.8% retracement at 0.03020, with resistance likely at 0.03055. These levels may act as pivot points for the next 24 hours.

Backtest Hypothesis

The technical indicators described—particularly RSI and MACD—offer a solid foundation for backtesting a trend-following or mean-reversion strategy. For example, a strategy that enters long when RSI drops below 30 and exits when it rises above 50 could be tested using the STRAXUSDT dataset. Similarly, a short-biased approach could target RSI above 70, as overbought conditions have historically preceded sharp corrections. Given the bearish bias in volume and momentum, a short-term bearish backtest from 2022-01-01 to 2025-10-31 using a 14-day RSI and a fixed exit at 5 days could provide meaningful insights into STRAXUSDT’s behavior under bearish pressure.