Market Overview for Steem/Tether (STEEMUSDT)

• Steem/Tether (STEEMUSDT) fell to a 24-hour low of $0.1146 but closed near the upper half of the range.
• Volatility dipped after a sharp dip in the early morning, while volume surged during the rebound.
• Momentum indicators show mixed signals, with RSI in mid-range and MACD trending lower.
• Price remains confined within a tight consolidation pattern, awaiting a breakout signal.
• No strong overbought/oversold conditions observed, suggesting lack of strong directional bias.

Steem/Tether (STEEMUSDT) opened at $0.1147 on 2025-09-25 12:00 ET and closed at $0.1162 by 12:00 ET on 2025-09-26, reaching a high of $0.1165 and a low of $0.1146 during the 24-hour period. Total trading volume amounted to 2,485,215.8 STEEM, and notional turnover was approximately $280,012.

Structure & Formations

Price action revealed a bearish breakdown attempt followed by a measured rebound, particularly evident during the 2100–2400 ET window. A key support level formed around $0.1146–0.1149, where the price found a floor after the early morning selloff. Conversely, resistance emerged at $0.1162–0.1165, a level that has been tested multiple times in the past 24 hours. A notable bullish engulfing pattern formed in the 0500–0515 ET window, suggesting short-term buying pressure after a period of bearish consolidation.

Moving Averages

On the 15-minute chart, the 20-period moving average dipped slightly below the 50-period line during the early morning selloff but has since re-converged, indicating a potential neutral bias. The 50-period MA remains above the 100-period MA on the daily chart, suggesting that the pair is still in a short-term bull phase. However, the 200-period MA remains a strong bearish reference, currently acting as a ceiling.

MACD & RSI

MACD lines crossed to the bearish side in the early morning, confirming the selloff. However, the recent rebound brought the MACD back into positive territory, suggesting short-term momentum may be shifting. RSI remains in the mid-range (around 45–55), indicating no immediate overbought or oversold conditions. This suggests the market is in a period of equilibrium, awaiting stronger directional signals.

Bollinger Bands

Volatility has been relatively low over the past 24 hours, with the Bollinger Bands contracting slightly in the 0000–0200 ET timeframe. Price spent much of the period near the midline of the bands, particularly after the 0500–0800 ET rebound. The recent move toward the upper band suggests a potential consolidation breakout may be near, though confirmation is still required.

Volume & Turnover

Volume spiked during the rebound phase, particularly in the 0100–0400 ET window, with a high of 79012.3 STEEM traded in the 024500 candle. This coincided with a sharp rise in notional turnover. A divergence emerged later in the day as price continued to consolidate, with volume declining despite a relatively stable price. This suggests that initial buying pressure has waned, and the market is now in a phase of digestion.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from $0.1146 to $0.1165, the 38.2% retracement level sits at $0.1156, while the 61.8% level is at $0.1152. Price has been testing the 61.8% level over the last 6 hours, with mixed results. On the daily chart, the 38.2% retracement of the larger swing sits at $0.1158 and appears to be a key resistance level for near-term direction.

Backtest Hypothesis

The described backtesting strategy focuses on detecting potential trend reversals using a combination of RSI divergence and volume confirmation during consolidation phases. This approach aligns well with the recent price behavior of STEEMUSDT, where a bearish breakdown was followed by a volume-confirmed rebound. A potential strategy could look to enter long positions when price breaks above the 0.1162 resistance with above-average volume, using the 20-period MA as a filter for confirmation. Conversely, short positions could be triggered on a breakdown below 0.1146 with bearish divergence in RSI. Backtesting this setup would help validate the timing and effectiveness of such signals in the current low-volatility environment.