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Summary
• Price broke above a descending channel, closing near the upper boundary after a bullish engulfing pattern.
• RSI reached 52, indicating moderate momentum, while Bollinger Bands show mild volatility expansion.
• Turnover rose during a 4-hour rally, with volume exceeding 165,979 STX at the session peak.
• Fibonacci retracement levels at 0.2439 and 0.2465 appear relevant for potential support and resistance.
• A bearish divergence in volume during the afternoon ET suggests caution as price consolidates.
Stacks/Tether (STXUSDT) opened at 0.2437 on 2025-12-23 12:00 ET and closed at 0.2462 on 2025-12-24 12:00 ET, reaching a high of 0.2471 and a low of 0.2367. Total volume for the 24-hour period was 1,659,793 STX, with notional turnover amounting to $408,661.
The market appears to be testing the upper end of a descending channel, with the potential for a follow-through rally if buyers hold above 0.2465. However, a rejection at current levels could trigger a retest of 0.2439. Investors should remain cautious of thin volume at key levels and watch for a breakdown in bullish momentum.
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