Market Overview for IDEX/Tether (IDEXUSDT) – 24-Hour Candlestick Analysis

• IDEX/Tether (IDEXUSDT) dropped to a 24-hour low of $0.01899 before rebounding, forming a bearish reversal pattern at key support.
• Volatility spiked in the 19:30–20:30 ET window, with a 2.6% range and sharp volume surges, suggesting heightened market sentiment.
• RSI reached oversold territory near 28, while MACD diverged from price in the final hour, signaling potential exhaustion in the bearish move.
• A Fibonacci 61.8% retracement level at $0.01945 acted as a short-term support, confirming key psychological price levels.
• Turnover remained elevated post-19:30 ET, with volume exceeding 3.3M on the 19:30 ET candle, but price failed to confirm a rebound above $0.0196.

IDEX/Tether (IDEXUSDT) opened at $0.02004 on 2025-10-25 12:00 ET, hitting a 24-hour high of $0.02102 and a low of $0.01899, closing at $0.02007 as of 12:00 ET on 2025-10-26. Total volume over the 24-hour period reached 13,165,176.6, with notional turnover amounting to approximately $258,937. The pair experienced a sharp bearish move followed by a consolidation phase.

Structure & Formations

Price formed a bearish engulfing pattern on the 19:30 ET candle, confirming a breakdown below a key support zone at $0.01931. A doji formed on the 22:30 ET candle, suggesting indecision as price bounced slightly. A key support level was found around $0.01899, coinciding with a 61.8% Fibonacci retracement of the prior bullish swing, which provided a temporary floor. A shallow bullish reversal pattern emerged at $0.01945, hinting at possible near-term buying interest.

Moving Averages and Volatility

The 15-minute chart showed the 20-period MA dipping below the 50-period MA, reinforcing bearish momentum in the latter half of the 24-hour period. Volatility expanded significantly between 19:30 and 20:30 ET, with Bollinger Bands widening to reflect increased uncertainty. Price lingered near the lower band for much of the session but moved closer to the mid-band during the final hours.

Momentum and Overbought/Oversold Conditions

RSI dipped into oversold territory near 28 during the 22:15–22:45 ET window, indicating potential exhaustion in the bearish move. MACD, however, showed divergence: while the price began to stabilize, the MACD line remained in bearish territory, suggesting the bounce might lack conviction. Stochastic RSI crossed above 20 on the 01:30–02:00 ET candles, hinting at a short-term reversal but failing to push above 50.

Volume and Turnover Dynamics

Volume spiked sharply on the 19:30 ET candle, with 3,395,391.5 units traded as price dropped to a 24-hour low. Turnover also surged during this hour, confirming the bearish move. However, the subsequent volume on the 20:30–21:30 ET candles failed to confirm a sustained recovery, with the 20:30 ET candle seeing only 1,308,373.1 units traded. This volume-contraction pattern suggests market participants may be cautious in the near term.

Fibonacci and Support-Resistance Levels

The 61.8% Fibonacci retracement level of the prior upward swing at $0.01945 acted as a strong support. A rebound from this level occurred at 20:45–21:15 ET, with price forming a bullish divergence. The 38.2% retracement at $0.01988 functioned as resistance during the morning hours on the 26th, preventing a full recovery. These levels may continue to influence short-term price behavior.

Backtest Hypothesis

The backtesting strategy described focuses on identifying key Fibonacci retracement levels combined with RSI divergence and volume confirmation. A hypothetical trade would enter long on a bullish reversal pattern forming at the 61.8% Fibonacci level, with a stop-loss placed just below the most recent swing low. Given the recent divergence in RSI and the volume confirmation during the 20:45–21:15 ET window, this setup appears valid and could be tested for consistency in similar market conditions.