Market Overview: Steem/Tether (STEEMUSDT) 24-Hour Technical Summary

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Friday, Jan 9, 2026 6:44 pm ET1min read
STEEM
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USDT
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Aime RobotAime Summary

- STEEMUSDT traded between 0.0774-0.0793 before forming a bearish engulfing pattern at 0.0793, signaling potential reversal.

- RSI briefly hit oversold levels at 28 during 0.0754-0.0761 rebound but failed to sustain momentum above 30.

- Bollinger Band contraction and increased volume at 0.0754-0.0761 suggest imminent breakout/breakdown within 24 hours.

- Key Fibonacci levels at 0.0768 (38.2%) and 0.0777 (61.8%) were tested, with 0.0740 identified as critical support.

Summary
• Steem/Tether (STEEMUSDT) consolidated between 0.0774–0.0793 amid mixed volume action.
• A bearish engulfing pattern emerged after the 0.0793 peak, suggesting near-term weakness.
• RSI entered oversold territory briefly, but momentum failed to confirm a rebound.
• Bollinger Band contraction suggests potential for a breakout or breakdown in the next 24 hours.
• Notional turnover surged during the 0.0754–0.0761 rebound, hinting at renewed buyer interest.

Market Overview


Steem/Tether (STEEMUSDT) opened at 0.0778 on 2026-01-08 12:00 ET, peaked at 0.0793, and closed at 0.0759 by 12:00 ET on 2026-01-09. The 24-hour volume totaled approximately 1,638,447.8 with a notional turnover of 127,314.13 USD.

Structure & Formations

The price formed a bearish engulfing candle after the 0.0793 high, confirming a potential reversal. Key support levels emerged at 0.0774–0.0778 and 0.0759–0.0763, with 0.0740 appearing as a critical floor. A doji formed near 0.0761 during the early morning rebound, signaling indecision.

Moving Averages


On the 5-minute chart, the price closed below both the 20 and 50-period moving averages, reinforcing a short-term downtrend. The 200-period daily SMA at ~0.0785 acts as a psychological and potential resistance level.

MACD & RSI


MACD turned negative during the morning session, indicating bearish momentum. RSI briefly entered oversold territory at ~28 during the 0.0754–0.0761 rebound but failed to produce a convincing recovery above 30, suggesting weak follow-through buying.

Bollinger Bands


Volatility tightened in the early morning hours, with price action hovering near the lower band before breaking out toward 0.0759. The contraction may be followed by a breakout or breakdown, depending on next-day order flow.

Volume & Turnover

Volume spiked during the 0.0754–0.0761 rebound and at the 0.0774–0.0782 consolidation phase. Notional turnover aligned with price action during the rebounds but diverged during the 0.0763–0.0759 selloff, suggesting potential short-term capitulation.

Fibonacci Retracements


A key 38.2% retracement level at 0.0768 and a 61.8% level at 0.0777 were tested. The 50% level at ~0.0780 may act as a psychological resistance ahead of the 200SMA.

The price could test 0.0740 or rally back toward 0.0778–0.0782 in the next 24 hours, depending on order flow and news developments. Investors should remain cautious as divergence between price and momentum indicators suggests potential volatility ahead.