Streamr/Tether (DATAUSDT) Market Overview

• Price declined from a 15-minute high of $0.00814 to $0.00764.
• RSI near overbought levels early, then fell into oversold by the close.
• Volume surged mid-day but faded in the last 6 hours as price consolidated.

The 24-hour candle for Streamr/Tether (DATAUSDT) opened at $0.00749 at 12:00 ET–1 and reached a high of $0.00814 during the session. Price closed at $0.00764 at 12:00 ET after a low of $0.00748, marking a bearish close. Total volume traded over the period was 63,051,568.30, with a total turnover of $498,233.72. The price action reflected a bearish reversal pattern, particularly in the second half of the session.

Structure & Formations

The 15-minute chart displayed a bearish continuation pattern, with a strong bullish attempt failing at the $0.00802 level. A key support level appears to have formed around $0.00773–0.00775, as the price bounced several times from this zone. A potential resistance cluster exists between $0.00792 and $0.00796, where the price showed signs of hesitancy before falling again. A doji pattern formed near the $0.00790 level, indicating indecision among traders.

Moving Averages

Short-term moving averages (20/50-period 15-minute) crossed bearishly below the price in the latter half of the session, reinforcing the downward momentum. On the daily chart, the 50-day MA is positioned above the 200-day MA, suggesting a neutral to mildly bullish trend in the broader context. However, the 15-minute chart’s bearish crossover implies short-term caution.

MACD & RSI

The 15-minute MACD line crossed below the signal line mid-session, signaling bearish momentum. The RSI dropped from overbought levels (>70) to below 40 by the close, indicating exhaustion in the bullish phase and potential oversold conditions. These metrics suggest the pair may experience a corrective bounce, but a strong bearish bias remains intact.

Bollinger Bands

The price spent much of the session near the upper Bollinger Band, with a sharp pullback pulling it closer to the 20-period moving average. This contraction in volatility, especially in the last 6 hours, suggests a potential consolidation phase ahead. A breakout above the upper band could reignite bullish momentum, while a breakdown below the middle band would confirm bearish continuation.

Volume & Turnover

Volume peaked sharply in the 17:45–19:00 ET window at around $0.00810 but declined sharply afterward. The total notional turnover during this period was approximately $197,000, a significant portion of the 24-hour total. However, the recent fall in both volume and turnover suggests weakening conviction in the bearish move, which could set the stage for a countertrend reversal.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute swing from $0.00748 to $0.00814, the 38.2% level at $0.00784 and 61.8% at $0.00763 correspond with key support levels seen in the data. Price tested the 61.8% level in the last two hours of the session, finding temporary support before closing just above it. This suggests that a retest of these levels is likely in the near term.

Backtest Hypothesis

For a practical backtest of Streamr/Tether, one could use a short-term reversal strategy based on RSI overbought conditions and Fibonacci levels. For example, a potential signal may be generated when RSI (14-day) exceeds 70, followed by a pullback below the 20-period MA, and a retest of the 61.8% Fibonacci level. An exit rule could be a stop-loss at the next support level, defined as the most recent swing low ≥ 5 bars back, or a trailing stop of 1.5% from the high of the entry candle. This strategy would need to be applied to a 15-minute chart, using historical DATAUSDT data from 2022-01-01 to today, with a focus on confirming the strength of the 61.8% retracement level and the bearish crossover of the 20/50 MA. Position sizing and maximum holding periods (e.g., 48 hours) would also be important risk management tools.