Streamr/Tether (DATAUSDT) Market Overview

Summary
• Price closed lower after a volatile session, breaking below key support levels.
• Volume spiked during the sharp decline, signaling bearish conviction.
• RSI approached oversold territory, hinting at potential near-term reversal.

Streamr/Tether (DATAUSDT) opened at $0.00786 on 2025-11-11 12:00 ET and closed at $0.00768 on 2025-11-12 12:00 ET, with a high of $0.00795 and a low of $0.00729. Total volume for the 24-hour period was 43,814,614.8 units, with notional turnover calculated as $338,876.23 (using closing prices for each 15-minute bar).

Structure & Formations

The price action showed a strong bearish bias throughout the session. A sharp bearish engulfing pattern formed around 19:15 ET, confirming the breakdown of support near $0.0077. A doji appeared at 03:45 ET, suggesting a brief pause in the downward momentum. Key support levels include $0.0075 and $0.00737, while resistance is found near $0.00776.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended downward, aligning with the bearish bias. The 50-period line crossed below the 20-period line, indicating a bearish crossover. Daily moving averages are not directly available, but the overall bearish trend suggests the 50-period, 100-period, and 200-period lines on the daily chart are likely aligned in a descending order.

MACD & RSI

The MACD line turned negative and the histogram flattened, suggesting waning momentum. RSI reached oversold territory (below 30) during the late hours of the session, potentially signaling a short-term rebound. However, given the strength of the bearish move, the RSI’s oversold condition may not trigger a strong reversal.

Bollinger Bands

Volatility expanded significantly during the sharp sell-off in the afternoon and evening hours, pushing prices below the lower band for extended periods. The bands widened around 20:45 ET as the price approached $0.0075. Price re-entered the band range during the early morning, but remained near the lower boundary.

Volume & Turnover

Volume spiked during the sharp decline, especially in the 19:15–20:45 ET window, where turnover surged by over 50%. The volume-to-price divergence was bearish during this phase, as higher volume accompanied lower prices. Turnover remained elevated during the morning recovery, but without a corresponding volume spike, raising questions about the sustainability of the rebound.

Fibonacci Retracements

A key 61.8% Fibonacci level was breached during the 19:15–20:00 ET window, confirming the continuation of the bearish trend. The 38.2% retrace level was retested in the early morning hours but failed to hold. Daily Fibonacci levels are not directly provided, but the breakdown of intraday 61.8% retracement levels suggests a larger bearish structure is in place.

Backtest Hypothesis

The backtest strategy described involves buying when RSI falls below 30 and holding for 3 trading days. This approach relies on identifying oversold conditions and expecting a reversal. In the case of DATAUSDT, RSI did enter oversold territory during the session, particularly in the 05:15–06:30 ET window. However, the overall bearish context suggests that a rebound may be short-lived, and a 3-day holding period could result in mixed outcomes. For the strategy to be effective, additional confirmation (such as a bullish candlestick pattern or a break above the 20-period moving average) would be necessary to filter out false signals in a strong downtrend.