Market Overview for IDEX/Tether (IDEXUSDT) – 24-Hour Technical Summary

Summary
• Price opened at $0.01128, dropped to a low of $0.01071, and closed near $0.01076 after sharp selling in late ET hours.
• A bearish engulfing pattern and key support at $0.01075–$0.01076 were tested and held in the final candle.
• Volume spiked during the sell-off, with over $1.5M in turnover after 10:00 ET, indicating increased bear pressure.
• RSI hit oversold territory below 30 by 11:00 ET, hinting at potential short-term bounce.

IDEX/Tether (IDEXUSDT) opened at $0.01128 on 2025-12-16 12:00 ET, hit a high of $0.01141, a low of $0.01071, and closed at $0.01076 on 2025-12-17 12:00 ET. Total 24-hour volume was 14,685,844.7 units, with notional turnover of approximately $155.5M.

Structure & Formations

The price traced a broad bearish arc throughout the 24-hour period, with a key swing high at $0.01141 and a pivotal support zone forming between $0.01075 and $0.01076. A bearish engulfing pattern emerged around $0.01109–$0.01092, followed by a long bearish candle at $0.01082–$0.01078. A potential reversal candle at $0.01082–$0.01078 showed buying pressure but failed to close above the prior high.

Moving Averages

On the 5-minute chart, the 20-period MA fell below the 50-period MA in early ET hours, confirming bearish momentum. Daily averages (50/100/200) showed a bearish alignment with the 50-period MA well above the 100 and 200, suggesting continued bearish bias unless price retests critical resistance above $0.0110.

MACD & RSI

MACD showed a deep bearish divergence as prices fell to new lows in the last 48 hours, while RSI dipped below 30 by 11:00 ET, suggesting oversold conditions and potential for a small bounce. However, bullish momentum remains weak unless a clear break above $0.01086 occurs with volume confirmation.

Bollinger Bands

Volatility expanded significantly during the sell-off, with the Bollinger Band width reaching its widest point after 07:30 ET. Price closed near the lower band at $0.01076, consistent with the bearish trend, but the narrowing band in the final 30 minutes could hint at a potential consolidation phase ahead.

Volume & Turnover

Volume surged after 10:00 ET, with a single candle recording over 1.5 million in turnover. A divergence appeared between price and volume in the final 2 hours, as volume declined even as prices drifted lower, signaling potential exhaustion on the downside.

Fibonacci Retracements

Fibonacci levels from the $0.01141 high to the $0.01071 low show key potential reversal levels at 61.8% ($0.01086) and 38.2% ($0.01112). The current close at $0.01076 is near the 61.8% level, suggesting a possible consolidation or bounce if bulls step in.

Over the next 24 hours, IDEXUSDT may test the 61.8% retracement level at $0.01086 for a short-term bounce. However, bearish control could reassert if the $0.01075 support breaks, risking a drop toward $0.01066. Investors should closely monitor volume action and watch for a reversal candle with strong bullish confirmation near this level.