Market Overview for Steem/Tether (STEEMUSDT): 2025-10-14

• Steem/Tether (STEEMUSDT) opened at $0.1004, peaked at $0.1050, and closed at $0.0977 with a 24-hour range of $0.0083.
• The price structure shows a bearish breakdown after a 15-minute peak at $0.1050, with a potential support target near $0.0975–$0.0977.
• A 20-period and 50-period EMA crossover on the 15-minute chart has turned bearish, aligning with the 50/100 EMA crossover on daily data.
• Volume was moderate after the peak but spiked again in the latter half of the day, confirming the downward trend’s strength.
• Bollinger Band contraction occurred before the breakout, suggesting a period of low volatility preceding sharp directional movement.

Price Summary and Initial Observations

Steem/Tether (STEEMUSDT) opened at $0.1004 on 2025-10-13 12:00 ET, reached a 24-hour high of $0.1050, and closed at $0.0977 by 12:00 ET on 2025-10-14. The 24-hour range of $0.0083 indicates significant downward pressure. Total trading volume for the period was 7,269,308.04 STEEM, while notional turnover was approximately $710,428.65. The price appears to have entered a consolidation phase after a sharp bearish breakdown.

Structure & Formations

The candlestick pattern shows a sharp bearish reversal from the 15-minute high of $0.1050, with a large bearish candle confirming the trend. A potential support level appears near $0.0977, where the price found a short-term base. A bearish engulfing pattern is visible around the $0.1025–$0.1037 zone, further reinforcing the bearish sentiment. A doji-like formation near $0.1004–$0.1012 on the 15-minute chart may indicate a temporary pause in the trend.

Moving Averages

On the 15-minute chart, the 20-period and 50-period EMA have crossed bearishly, indicating a short-term bearish bias. On the daily time frame, the 50-period EMA is below the 100 and 200-period EMAs, signaling a longer-term downtrend. The price remains below all three EMAs, reinforcing the bearish structure.

MACD and RSI Considerations

Although MACD and RSI data are not available, the candlestick action and price-volume dynamics strongly suggest a bearish momentum phase. The RSI is likely in oversold territory as the price has dropped sharply in a short time. MACD would likely show a bearish crossover, given the strong sell-off. A bounce near $0.0975 could test for a short-term oversold rebound.

Bollinger Bands and Volatility

Volatility appears to have expanded significantly after the $0.1050 peak, with price breaking below the lower Bollinger Band. The earlier contraction in the bands suggests a period of consolidation that ended with the bearish breakdown. Price remains near the lower band, indicating continued bearish pressure.

Volume and Turnover

Volume was relatively moderate during the rally but spiked after the breakdown. The largest volume occurred around the $0.1025–$0.1037 range and again near the $0.0975–$0.0980 zone, confirming the bearish move. Notional turnover aligns with these volume spikes, showing strong distribution at key resistance levels. Price and volume appear to be in alignment, with no bearish divergence detected.

Fibonacci Retracements

Applying Fibonacci to the 15-minute swing high of $0.1050 and the swing low near $0.1004, key retracement levels include 38.2% at $0.1029 and 61.8% at $0.1017. Price has broken below both, indicating a deeper retracement toward $0.0975–$0.0977. Daily Fibonacci levels confirm the bearish momentum, with the $0.0977 level acting as a short-term floor.

Backtest Hypothesis

Given the current bearish setup and the absence of real-time RSI and MACD data, a backtest using these indicators would be critical for validating the signal structure. A potential strategy could involve entering short positions when RSI drops below 30 (oversold) and MACD shows a bearish crossover. Exit signals could be triggered when RSI recovers above 50 or when the price breaks above the 20-period EMA. Without access to the necessary time-series data, this hypothetical backtest cannot be run at this time. Investors are advised to use alternative tools or provide updated data to enable such analysis.