Market Overview for Steem/Tether (STEEMUSDT) on 2026-01-10

Summary
• STEEMUSDT declined from 0.0768 to 0.0744 amid high volume in the overnight session.
• A bearish engulfing pattern formed at 0.0762, suggesting short-term bear momentum.
• Volatility expanded with a sharp drop below key support at 0.075, confirming bearish bias.
• RSI signaled oversold conditions near 30, hinting potential for a near-term bounce.
• Bollinger Bands showed price closing near the lower band, indicating stretched bearish pressure.

Market Overview

Steem/Tether (STEEMUSDT) opened at 0.0766 at 12:00 ET-1, reached a high of 0.0768, and closed at 0.0744 at 12:00 ET today. The pair traded between 0.0744 and 0.0768 over the 24-hour period. Total volume was 6,238,792.8, with a notional turnover of $478,679.10.

Structure & Key Levels

The price action formed a bearish engulfing pattern at 0.0762 during the overnight U.S. session, confirming a shift in sentiment to the downside. A key support level at 0.075 was broken, leading to further declines into 0.0744. Resistance appears to be forming near 0.0762–0.0763, with a critical support level now at 0.0747.

Volatility and Momentum

Bollinger Bands showed a widening in volatility during the late U.S. hours as price fell sharply. RSI approached oversold levels around 30 in early Asian hours, suggesting potential for a short-term rebound. MACD turned negative with bearish divergence, reinforcing the downward momentum.

Volume and Turnover

Volume spiked to over 1.6 million units at 02:45 AM ET, coinciding with a sharp drop in price. This volume was accompanied by a large notional turnover of $122,489.22, confirming the bearish move. Subsequent volume was mixed, with price consolidating near 0.0747–0.0749.

Fibonacci and Retracement Levels

Fibonacci levels applied to the 5-minute chart show 0.0747 as the 38.2% retracement of the recent high. A move above 0.075 would test the 50% level at 0.0753, offering a potential short-term floor for buyers to defend.

The price may test for a bounce off the 0.0744–0.0747 range in the next 24 hours. Investors should remain cautious as the bearish bias remains intact, and a failure to hold above 0.0747 could lead to further downside.