Market Overview for Ethena USDe/Tether (USDEUSDT) on 2025-10-10

• USDEUSDT traded in a tight range, with minor bearish pressure late into the night.
• Key resistance held at 1.0003 while support found at 1.0001, indicating range-bound action.
• RSI and MACD showed no strong divergence, suggesting equilibrium in near-term momentum.
• Volume surged in the 15–17-hour window but failed to confirm bullish or bearish breakouts.
• Bollinger Bands showed moderate volatility with price hovering near the mid-band.

Ethena USDe/Tether (USDEUSDT) opened at 1.0001 on 2025-10-09 at 12:00 ET, reached a high of 1.0004, and closed at 1.0001 on 2025-10-10 at 12:00 ET after a low of 0.9998. Total volume over the 24-hour period was 117,505,500.0 and turnover reached approximately $118,047,500.0 (assuming $1.0001 average price).

Structure & Formations

The 15-minute chart shows a well-defined range between 1.0001 (support) and 1.0003 (resistance), with several attempts to break above the upper level failing, suggesting short-term bearish pressure. A bullish engulfing pattern appeared around 2025-10-10 15:00 ET, which initially suggested a possible reversal, but was quickly invalidated by a bearish spinning top candle. A series of doji candles at the top of the range further indicate indecision among traders.

Moving Averages

On the 15-minute timeframe, the 20-period and 50-period moving averages are nearly overlapping, indicating a lack of directional bias. On the daily chart, the 50-period moving average remains above both the 100- and 200-period lines, suggesting a broader bullish trend, but it has yet to show strength on shorter timeframes.

MACD & RSI

The 15-minute MACD crossed below the signal line in the late hours, signaling a bearish momentum shift, while RSI remained in the neutral range between 45 and 55. No overbought or oversold signals were observed, indicating balanced buying and selling pressure over the past 24 hours.

Bollinger Bands

Volatility remained moderate, with price staying within the Bollinger Bands for the majority of the period. Price settled near the mid-band at 1.0001, indicating continuation of consolidation rather than a breakout or breakdown. No significant contractions were observed that would signal an upcoming breakout.

Volume & Turnover

Volume spiked in the 15–17-hour window but failed to push price beyond either the 1.0003 or 1.0001 levels, indicating that increased participation did not lead to a directional move. Notional turnover followed volume closely, with no major divergences reported. The final 15-minute candle at 12:00 ET showed a bearish close, confirming short-term bearish sentiment.

Fibonacci Retracements

Applying Fibonacci to the 15-minute swing from 1.0001 to 1.0003, price has shown multiple tests of the 61.8% level at 1.0002 and 38.2% at 1.00025. The recent decline from the 1.0003 high found support at the 61.8% level before bouncing back. Daily Fibonacci levels also show the 1.0001 level acting as a key psychological support.

Backtest Hypothesis

For the past 24 hours, a potential trading strategy could involve entering long positions on a bullish engulfing pattern formation near the 1.0001 level, with a stop-loss placed below 0.9999. Alternatively, short positions may be considered on a bearish divergence in MACD or a break below the 1.0001 support level, with a target near 0.9998 and a stop above 1.0002. Given the low volatility and tight range, such a strategy would benefit from a low-risk, high-probability approach, favoring range-bound trading over directional bias.