Market Overview for IDEX/Tether (IDEXUSDT) on 2025-11-13

Summary
• Price declined from 0.01768 to 0.01717 amid bearish momentum.
• Volume surged to 406,244.2 during the overnight low, but failed to confirm a strong bounce.
• RSI indicates oversold territory, while the MACD shows bearish divergence.

IDEX/Tether (IDEXUSDT) opened at 0.01768 on 2025-11-12 at 12:00 ET, peaked at 0.01772, and hit a 24-hour low of 0.01713 before closing at 0.01719 on 2025-11-13 at 12:00 ET. The 24-hour trading volume amounted to approximately 17,745,227.1 coins, with a total turnover of $313,918.13.

On the 15-minute chart, IDEXUSDT appears to be forming a descending triangle pattern as the pair consolidates below key resistance at 0.0175. A bearish engulfing pattern at the 0.0175 level and a long lower shadow at 0.0174 on the 19:30 ET candle suggest continued bearish bias. A support level forming around 0.0172 may act as a short-term floor.

The 20-period and 50-period moving averages are both bearish, with the price below both. On a daily basis, the 50, 100, and 200-period moving averages remain untested due to the lack of a daily close. The MACD histogram continues to contract with a negative crossover, while the RSI is in oversold territory at 28, suggesting potential for a rebound, though bearish momentum remains dominant. Bollinger Bands show a moderate widening, reflecting increased volatility, with prices currently trading near the lower band.

The volume profile shows a notable spike at 0.0172 during the 05:30–06:30 ET timeframe, coinciding with the price finding a bottom. However, the failure of the price to break above 0.0174 despite this volume suggests weak follow-through buying. A Fibonacci 61.8% retracement level at 0.0174 may provide near-term resistance.

Backtest Hypothesis
A potential backtest strategy could utilize RSI(14) with oversold (30) and overbought (70) levels to identify buy and sell signals, combined with a 50-period moving average as a trend filter. Using daily closing prices would align with standard technical setups, and incorporating a stop-loss at 2% and take-profit at 4% could help manage risk. Given IDEXUSDT’s recent bearish setup, such a strategy would likely need a strong divergence or reversal candle to confirm a buy signal.