Market Overview for IDEX/Tether (IDEXUSDT): 24-Hour Technical Analysis

• IDEXUSDT declined 6.7% over 24 hours, closing at 0.02817 after hitting 0.02877 intraday high.
• Volatility expanded post-ET midnight, with a 0.00027 range in early AM trading.
• Volume surged in early trading, then retreated, suggesting short-term profit-taking.
• RSI near 40 suggests moderate momentum with no immediate overbought or oversold signals.
• Key support at 0.0281–0.0279 likely to be tested, with 0.0284 resistance ahead.

At 12:00 ET – 1 on 2025-09-18, IDEX/Tether (IDEXUSDT) opened at 0.02843, reaching a high of 0.02901 and a low of 0.02773 before closing at 0.02817 at 12:00 ET on 2025-09-19. Total volume for the 24-hour period was 15,571,505.0, with notional turnover of 431.6 USD. Price declined in a choppy, bearish trend, with a key breakdown below critical support levels.

Structure & Formations

Price action over the 24-hour period shows a bearish bias, marked by a breakdown below the 0.0284 support zone and a continuation of selling pressure into the 0.0279–0.0281 range. A notable bearish engulfing pattern appears at the 0.02861–0.02872 range on the 15-minute chart, confirming the shift in sentiment. A long lower wick appears at 0.02823–0.02828, hinting at rejection of a potential short-term rebound. No significant doji or reversal patterns are evident in the immediate term, but the breakdown of key support levels suggests further bearish momentum could follow.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages remain bearishly aligned, with the 50-period below the 20-period and price below both, reinforcing the downtrend. On a daily scale, the 50- and 200-period moving averages appear to be converging at 0.0283–0.0285, which could serve as a potential point of resistance. If price manages to close above this zone with significant volume, a short-term reversal could be triggered.

MACD & RSI

The MACD remains bearish with the line below the signal line and diverging downward, indicating continued selling pressure. The RSI has moved into the mid-range, settling near 40, suggesting moderate bearish momentum without overbought or oversold conditions. However, the RSI’s inability to reclaim above 50 despite several price rallies implies a lack of conviction in the short-term.

Bollinger Bands

Volatility has increased over the last 8 hours, with Bollinger Bands widening from a narrow contraction at 0.0284 to a range of 0.0288–0.0280. The price closed near the lower band at 0.02817, indicating a possible short-term oversold condition. However, the absence of a strong rebound suggests the market may still be testing this level rather than finding a floor.

Volume & Turnover

Volume was highest in the early morning hours, with a 215,199.1 volume candle at 03:45 ET and 627,553.3 at 08:15 ET. These spikes occurred during sharp pullbacks and consolidations, suggesting short-term profit-taking or stop-loss triggering. Notional turnover remains low due to the small price levels, with the highest turnover candles at $0.0284 and $0.0283. Divergences between price and volume are not significant at this stage, indicating the trend has some underlying strength.

Fibonacci Retracements

Applying Fibonacci levels to the recent swing high (0.02877) and low (0.02797), the 38.2% and 61.8% retracement levels fall at 0.02854 and 0.02836, respectively. These levels are currently being tested by price, with 0.02836 being a key support zone. A failure to hold above this level may trigger a retest of 0.0280, the next major Fibonacci level. On a daily scale, the 61.8% retracement is at 0.0285, which could act as a psychological resistance if buyers re-enter the market.

Backtest Hypothesis

Given the bearish structure and key support levels being tested, a potential backtest strategy could involve a short bias at 0.0283, with a stop-loss above 0.02855 and a target at 0.02795–0.0278. This setup would capitalize on the current bearish momentum and key Fibonacci levels identified above. Traders may also consider a long bias at 0.0280, with a stop-loss at 0.0278 and a target at 0.0283, should a retest of the 0.02836 level fail. The strategy could be tested over multiple 15-minute candles during periods of high volatility and volume.