Market Overview for IDEX/Tether (IDEXUSDT) – 24-Hour Summary (2025-09-26)

• IDEX/Tether traded in a narrow range today, with bearish bias emerging after midday.• Price broke below the 20-period MA, confirming weakening momentum.• A large bearish candle at 17:30 ET-1 indicates heightened selling pressure.• Volume spiked 5x average during the 17:30–18:00 ET-1 session, supporting bearish action.• RSI and MACD both suggest overbought conditions dissipated, pointing to possible consolidation.

IDEX/Tether (IDEXUSDT) opened at $0.0237 on 2025-09-25 12:00 ET and closed at $0.02348 by 12:00 ET on 2025-09-26. The 24-hour high reached $0.02409, while the low dipped to $0.02288. Total volume amounted to 10,655,867.8, and notional turnover totaled $256,920.9 (approximate).

The candlestick pattern over the last 24 hours indicates a consolidating bearish trend, especially after a key bearish reversal candle emerged at 17:30 ET-1. A large-volume bar closed at $0.02311, far below the open, signaling strong selling pressure. A similar bearish pattern was seen again at 04:00 ET with an intracandle range of $0.0005 (2.2%) and a close of $0.02367. These formations suggest bearish control over the price action.

Structure & Formations

Key support levels formed around $0.0232–0.0233 (tested at 17:30 ET-1) and $0.0230–0.0231 (tested at 05:00 ET). Resistance levels are found at $0.0236 and $0.0238, where price bounced back multiple times. A bearish engulfing pattern appeared at 17:30 ET-1, while a bearish doji was observed at 23:45 ET-1, reinforcing bearish sentiment. A significant bearish reversal at 17:30 ET-1 may signal a shift in momentum from buyers to sellers.

Moving Averages

The 20-period MA currently sits at approximately $0.02345, and the 50-period MA is at $0.02352. Price closed below both, indicating bearish momentum in the 15-minute timeframe. On the daily chart, the 50-period MA is at $0.02363, the 100-period MA at $0.02375, and the 200-period MA at $0.02384. Price is currently below all three, suggesting a bearish bias in the medium-term trend.

MACD & RSI

The MACD line crossed below the signal line at 18:00 ET-1, confirming a bearish crossover. The histogram has been declining over the past 4 hours, signaling weakening momentum. RSI reached an overbought level of 68 at 05:30 ET but fell to 32 by 11:00 ET, indicating oversold conditions. This suggests potential for a near-term rebound or consolidation around $0.0234–0.0235.

Bollinger Bands

The 20-period Bollinger Bands (20, 2) widened during the 17:30–18:45 ET-1 timeframe, indicating a period of heightened volatility. Price closed below the lower band at 17:30 ET-1, reinforcing the bearish bias. Volatility has since stabilized, with price settling closer to the middle band as the 24-hour period closed.

Volume & Turnover

Volume surged at 17:30 ET-1 to 2,072,780.1 and again at 04:00 ET (766,971.0), indicating strong bearish conviction. However, price failed to retest the $0.0235 resistance level afterward, suggesting potential exhaustion in the short-term bearish move. Turnover spiked to a high of $50,630.2 at 17:30 ET-1 and has since declined, aligning with the bearish price action.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent swing from $0.02328 (low at 17:15 ET-1) to $0.02376 (high at 19:30 ET-1), key levels include 38.2% at $0.02346 and 61.8% at $0.02356. Price tested both levels, with a rejection at 61.8% suggesting a possible support zone for the next 24 hours.

Backtest Hypothesis

A potential backtesting strategy involves entering short positions on a bearish engulfing pattern confirmed by a closing price below the 20-period MA, with a stop-loss placed above the high of the engulfing candle. A take-profit target can be set at the nearest Fibonacci support level (e.g., 61.8% at $0.02356). This strategy aligns with the observed price action at 17:30 ET-1 and could be validated with historical data over similar setups.