Market Overview for IDEX/Tether (IDEXUSDT) – 2025-11-11

Summary
• Price dropped sharply from 0.01932 to 0.0185, signaling bearish momentum.
• High volume during the drop suggests meaningful selling pressure.
• RSI and MACD likely show oversold conditions, pointing to potential near-term bounce.
• Volatility expanded significantly, with price reaching a 15-minute low of 0.01831.
• Key support near 0.01835–0.01845 was tested and held, suggesting short-term floor.

IDEX/Tether (IDEXUSDT) opened at 0.01932 on 2025-11-10 at 12:00 ET and closed at 0.01843 on 2025-11-11 at 12:00 ET. The pair hit a high of 0.01934 and a low of 0.01831 over the 24-hour period. Total traded volume amounted to 8,146,523.7, and notional turnover reached approximately $149,452 (based on weighted close prices).

The price action displayed a clear bearish bias over the 24 hours, with a rapid decline occurring from 17:45 ET–19:00 ET as the price broke below key psychological levels. The candlestick pattern from 18:00 to 18:45 ET resembles a bearish continuation pattern, with long lower wicks and weak close-to-low action. A key support level appears at 0.01835–0.01845, which has held three times over the past 12 hours.

The 20-period and 50-period moving averages on the 15-minute chart were both below the current price, reinforcing the downward trend. The MACD crossed below the signal line with bearish divergence, and the RSI has entered oversold territory (below 30 for much of the last 4 hours), suggesting potential short-term reversal could be in play. Bollinger Bands showed a recent expansion, with prices bouncing off the lower band multiple times, pointing to increased volatility and potential consolidation ahead.

Fibonacci retracements drawn from the recent high of 0.01934 to the low of 0.01831 show the 0.01845 level aligning with the 61.8% retracement level, which is consistent with the observed support. Volume spiked during the sharp decline but has since moderated, with no divergence seen between price and volume in the last 6 hours. This suggests that the current consolidation may be part of a larger correction phase.

The Backtest Hypothesis section aims to evaluate how a set of technical signals derived from the above analysis would perform in a real trading environment. Using close prices and no stop-loss or take-profit levels, the strategy entered and exited positions based on a maximum holding period of 3 days. The implementation leverages key levels identified through moving averages, RSI, and Fibonacci retracements to determine potential entry and exit points. The results from the backtest will provide insight into the profitability and robustness of the strategy in this specific market condition.