Summary
• Price opened at $0.01046 and closed at $0.01040, forming a bearish trend over the 24-hour period.
• A significant volume spike occurred at 19:00 ET, coinciding with a sharp price drop to $0.01028.
• RSI indicated oversold conditions near 30, suggesting potential short-term bounce, but momentum remains weak.
• Volatility expanded with a 0.01022–0.01045 range, indicating increased trader activity during the session.
• A key support zone appears to have formed between $0.01032 and $0.01036 based on recurring bounces.
IDEX/Tether (IDEXUSDT) opened at $0.01046 on 2025-12-17 at 12:00 ET, reached a high of $0.01055, fell to a low of $0.01022, and closed at $0.01040 at 12:00 ET on 2025-12-18. Total volume for the 24-hour window was 5,999,673.7, with a notional turnover of $62.64 million.
Structure & Formations
Price action formed a bearish breakdown between 19:00 and 20:30 ET, breaking below a prior support at $0.01034 and testing $0.01022. A small bullish engulfing pattern emerged briefly around 20:15 ET, but it failed to trigger a sustained recovery. A doji formed at 01:00 ET, signaling indecision and a potential reversal point.
A strong support zone appears to have developed between $0.01032 and $0.01036, where the price bounced multiple times.
Moving Averages
On the 5-minute chart, price closed below the 20-period and 50-period moving averages, suggesting short-term bearish momentum. On the daily chart, the price remains below the 50, 100, and 200-day moving averages, reinforcing a medium-term downtrend.
MACD & RSI
MACD remained in negative territory with a weak histogram, confirming bearish momentum. RSI dipped below 30 in the early hours of 12:00 ET, indicating oversold conditions, but a rebound was not sustained, signaling potential exhaustion in the short-term bounce.
Bollinger Bands
Volatility expanded significantly after 19:00 ET, with price hitting the lower band at $0.01022. The bands have since widened, indicating increased uncertainty and trading activity. Price remains below the 20-period moving average within the bands, suggesting a continuation of the bearish trend is likely.
Volume & Turnover
A sharp increase in volume occurred between 19:00 and 20:30 ET, coinciding with a sharp price drop. The volume was not matched by a corresponding increase in price, pointing to bearish conviction. Notional turnover also spiked during this period, reinforcing the bearish bias.
Fibonacci Retracements
Applying Fibonacci to the 5-minute swing from $0.01045 to $0.01022, the price has tested the 61.8% level at $0.01033. A break below this level could target $0.01027. On the daily chart, the price remains below the 61.8% retracement of a prior bullish move, reinforcing bearish implications.
Looking ahead, traders may watch for a potential bounce from the $0.01032–$0.01036 support cluster or a continuation of the downtrend below $0.01032. However, high volatility and uncertainty could trigger sharp, unpredictable moves, so caution is warranted in the next 24 hours.
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