Market Overview for Stargate Finance/Tether

Summary
• Price declined from 0.1221 to 0.1189, forming bearish momentum with bearish engulfing patterns.
• RSI approached oversold territory while volume increased, signaling potential short-term reversal.
• Bollinger Bands contracted after morning volatility, suggesting range-bound trading ahead.
• Key support tested at 0.1186 with mixed volume confirmation, and 50-period MA (5-min) below price.
• 61.8% Fib level at ~0.1191 may act as immediate resistance if buyers step in.

Market Overview

Stargate Finance/Tether (STGUSDT) opened at 0.1219 on 2026-01-04 at 12:00 ET, hit a high of 0.1232, and closed at 0.1189 by 12:00 ET on 2026-01-05. The 24-hour trading saw a total volume of 2,118,133.1 and notional turnover of $254,006.66.

Structure & Formations

The price action revealed a bearish trend, breaking below the 0.1215 key support level and testing 0.1186. A bearish engulfing pattern formed around 0.1202–0.1208, signaling bearish control. A doji appeared near 0.1191, hinting at potential indecision or a short-term reversal.

Moving Averages

The 50-period moving average on the 5-minute chart sits below the current price, indicating bearish momentum. On the daily chart, the 200-period MA remains above 0.1205, suggesting medium-term bearish bias.

MACD & RSI

MACD turned negative, confirming bearish momentum. RSI dipped into oversold territory below 30, suggesting potential for a short-term rebound. However, overbought levels may not be reached unless buyers regain control above 0.121.

Bollinger Bands

Bollinger Bands showed a slight expansion in the morning followed by a contraction in the afternoon. Price remained near the lower band, indicating a potential bounce or consolidation within the range.

Volume & Turnover

Volume surged during the late-night decline, confirming bearish momentum. However, the increase in turnover did not fully align with the price drop, indicating potential exhaustion or a mixed market sentiment.

Fibonacci Retracements

On the 5-minute chart, the 61.8% Fibonacci retracement level at ~0.1191 may act as a key resistance. A break above this level could trigger a counter-trend rally toward the 50% Fib at 0.1205.

In the next 24 hours, a test of 0.1186 could confirm bearish sentiment, but a rebound above 0.1191 may prompt a short-term recovery. Investors should remain cautious of a potential continuation break below 0.1186, which could extend the downtrend.