Market Overview for Space and Time/Tether

Summary
• SXTUSDT formed key support near $0.026 and failed to break above $0.0272.
• Volume surged during an early upward push, but declined afterward, suggesting exhaustion.
• RSI remains neutral, with no overbought/oversold signals.
• Price action shows a bearish engulfing pattern near $0.0272.
• Volatility expanded briefly during the 18:00–20:00 ET window.

The SXTUSDT pair opened at $0.0262 on 2025-12-16 at 12:00 ET, reached a high of $0.0276, and fell to a low of $0.0257 before closing at $0.0261 on 2025-12-17 at 12:00 ET. Total 24-hour volume was ~104,669,503.4, and turnover amounted to approximately $2,801,586.7 (assuming 1 unit × price).

Structure & Formations

Price action showed a bearish engulfing pattern at $0.0272, indicating rejection of higher levels. Support appears to hold near $0.026 and $0.0258, with a potential retest of these levels likely in the near term. A break below $0.0258 could lead to further downside.

Technical Indicators

The 20-period and 50-period moving averages on the 5-minute chart showed a flattening trend, suggesting short-term indecision. MACD remained in a neutral range with no clear signal. RSI hovered between 45 and 55, reinforcing the lack of strong momentum. Bollinger Bands expanded during the 18:00–20:00 ET surge, but price retracted into the lower half of the bands.

Volume and Turnover

Turnover spiked during the initial 18:00–19:30 ET rally, with a total of 11.4 million volume traded over two hours. However, volume tailed off in the following 2–3 hours, suggesting a lack of follow-through buying. Divergence between volume and price suggests the upside move may have run out of steam.

Fibonacci Retracements

From the $0.0258 to $0.0276 swing, the 61.8% retrace level is at $0.0265, where the pair briefly held but failed to consolidate. A retest of the 50% level at $0.0267 may determine near-term direction.

Looking ahead, the next 24 hours may see a continuation of consolidation or a test of key support at $0.0258. Investors should watch for a breakdown or a rejection on strong volume to confirm the next leg. As always, a sharp move either way carries potential risks from macro sentiment or order flow imbalances.