Market Overview for Steem/Tether (STEEMUSDT) – 24-Hour Analysis

Summary
• STEEMUSDT broke key resistance with a bullish engulfing pattern near $0.0705.
• MACD turned positive, and RSI showed buying pressure as it neared overbought levels.
• Volatility expanded post-02:00 ET, with volume surging above average by ~300%.
• Price action showed a Fibonacci 61.8% retracement at $0.0705 acted as strong support.
• Bollinger Bands widened during the breakout, confirming a potential trend reversal.

At 12:00 ET–1 on 2026-01-04, STEEMUSDT opened at $0.0712 and traded between $0.0699 and $0.0721 before closing at $0.0715 on 2026-01-05 at 12:00 ET. Total 5-minute OHLC volume over 24 hours was 4.95M STEEM, with $34,861 in notional turnover.

The breakout above $0.0705, confirmed by a bullish engulfing pattern and a strong volume spike, suggests growing buyer control. MACD crossed into positive territory, and RSI edged toward overbought levels, hinting at sustained momentum. However, caution is warranted as the pair may retest the 0.0703–0.0705 range for consolidation. A pullback could trigger a retracement to 0.0701–0.0702, where earlier support was breached. Investors should monitor volume divergence to avoid whipsaw moves.