Market Overview for Steem/Tether (STEEMUSDT)

Summary
• STEEMUSDT closed higher after testing 0.0653 support and forming bullish engulfing patterns.
• RSI suggests moderate momentum, not yet overbought, with price within upper Bollinger Band.
• Volume increased in the final hours, confirming the late-session rally and tightening short-term consolidation.

The 24-hour period for Steem/Tether (STEEMUSDT) began at 0.0659 and closed at 0.0659, with a high of 0.0662 and a low of 0.0648. Total volume reached 13,909,638.0 and turnover was 91,858.51.

Structure & Formations

STEEMUSDT tested key support at 0.0653 and formed multiple bullish engulfing patterns, suggesting buyers regained control. A doji formed near 0.0657, indicating indecision during consolidation. Price has remained within a 0.0648–0.0662 range, with 0.066 and 0.0653 acting as key resistance and support, respectively.

Moving Averages

Short-term 5-minute moving averages (20/50) show STEEMUSDT trading above both, indicating a bullish bias. The 50-period MA acted as a dynamic floor in late trading. Daily moving averages (50/100/200) suggest the pair remains in a tight range, lacking clear directional momentum.

Momentum & Volatility

The RSI stands near 55, reflecting moderate bullish momentum without overbought conditions. Bollinger Bands show a recent expansion, with STEEMUSDT closing near the upper band, suggesting potential for a pullback toward 0.0655–0.0657. MACD remains slightly positive, with no clear divergence.

Volume & Turnover

Volume increased sharply after 15:00 ET, confirming the final rally to 0.0662. Turnover matched volume increases, indicating strong participation. No significant divergence between volume and price was observed during the session.

STEEMUSDT appears to be consolidating above 0.0655, with potential to test 0.0662 resistance again. A break below 0.0653 could trigger further correction. Investors should remain cautious ahead of broader market volatility and news flows in the next 24 hours.