Market Overview for IDEX/Tether (IDEXUSDT) on 2025-09-18

• IDEX/Tether declined from 0.02856 to 0.02768, with bearish momentum and key support tested at 0.02738.
• Volume surged to 4.3M at 0.02856 high, confirming strength, while turnover showed divergences late in the session.
• RSI signaled overbought conditions early, followed by a reversal toward oversold levels late.
• Bollinger Bands expanded with the 0.02856 high, while volatility dipped after 0.02768 close.
• A bullish engulfing pattern formed post-0.02738, signaling potential near-term reversal.

IDEX/Tether (IDEXUSDT) opened at 0.02773 on 2025-09-17 at 12:00 ET and closed at 0.02819 on 2025-09-18 at 12:00 ET, with a high of 0.02856 and a low of 0.02705. Total 24-hour volume reached 16.7 million tokens, while notional turnover was $475,725. Price action reflected a bearish bias early, but bullish momentum emerged in the final 6 hours of the session.

Structure & Formations

Key support levels were identified at 0.02738, 0.0276, and 0.02792, with a bearish breakdown below 0.02763 followed by a strong bullish reversal forming post-0.02738. A bullish engulfing pattern emerged in the final hours, suggesting short-term reversal. A doji formed around 0.02773, signaling indecision and potential for trend continuation or reversal.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed in a bearish divergence early in the session, aligning with the initial price drop. By the final 4 hours, the 50-period MA shifted above the 20-period MA, forming a potential bullish crossover. On the daily chart, the 50-period MA was below the 100-period and 200-period MAs, indicating a longer-term bearish bias.

MACD & RSI

MACD showed a bearish crossover in the first 3 hours, followed by a bullish divergence by the 20-hour mark. RSI peaked at overbought levels in the 12–18-hour range before a sharp decline into oversold territory by the 22nd hour, suggesting exhaustion of the bearish wave and potential for a near-term bounce.

Bollinger Bands

Bollinger Bands expanded significantly during the 0.02856 high, confirming a breakout period with strong volatility. Price later consolidated within the bands, with the close near the mid-band (0.02837), indicating potential for a continuation or consolidation phase ahead.

Volume & Turnover

Volume spiked to 4.3 million tokens at the 0.02856 high, confirming strength. Turnover, however, showed a divergence with volume post-0.02763, with reduced notional value despite increased volume, suggesting weaker conviction in the bearish wave. The final 4 hours showed a surge in volume with strong bullish price action, indicating potential for a reversal.

Fibonacci Retracements

Fibonacci levels on the 15-minute swing from 0.02856 to 0.02738 identified 0.02819 as the 61.8% retracement level, where price held near the close. The 0.02774 level corresponded to 38.2% and was a minor resistance area, with price showing rejection before a final move upward.

Backtest Hypothesis

Given the bearish reversal pattern and Fibonacci retracement at 0.02774, a potential backtesting strategy could involve a short entry with a stop above 0.02792 and a target at 0.02738. Alternatively, a bullish breakout strategy could be initiated with a long entry above 0.02826 and a target at 0.02856, with a stop below 0.02792. The RSI divergence and MACD crossover support a short-term trading approach, focusing on countertrend moves with tight stops and trailing exits.