Market Overview for Steem/Tether (STEEMUSDT)

Summary
• Price climbed from 0.0739 to 0.0765 before consolidating near 0.0752.
• Volume spiked during the midday surge but declined in late trading.
• RSI signaled overbought conditions at peak, suggesting potential pullback risk.
• Bollinger Bands widened with the 0.0765 high, showing increased volatility.
• A bullish engulfing pattern formed near 0.0752–0.0756 during consolidation.

Steem/Tether (STEEMUSDT) opened at 0.0739 on 2026-01-13 at 12:00 ET and reached a high of 0.0765 by 22:15 ET, before closing at 0.0752 as of 12:00 ET on 2026-01-14. The pair traded between 0.0739 and 0.0765 during the 24-hour window. Total volume was 4,994,234.5, while notional turnover reached $371,429.

Structure & Formations

Price advanced from a 5-minute support level near 0.0740 to a 0.0765 peak, forming a bullish engulfing pattern as it consolidated near 0.0752. A potential resistance cluster emerged around 0.0762–0.0765, where price stalled, suggesting limited upside momentum for now. On the daily chart, the 0.0765 level aligns with a prior Fibonacci 61.8% retracement, adding significance to the recent high.

Technical Indicators

The 20-period 5-minute moving average crossed above the 50-period, signaling a short-term bullish bias. MACD turned positive during the midday rally, confirming upward momentum, though RSI briefly entered overbought territory. A pullback toward 0.0749–0.0752 may trigger a retest of the 50-period MA as a potential support zone.

Volatility and Volume

Bollinger Bands expanded as price surged to 0.0765, indicating rising volatility. Volume surged with the breakout, peaking at 690,681.2 during the 22:15–22:45 ET session, but faded afterward, hinting at reduced conviction. Turnover confirmed the volume increase but has since declined, suggesting potential exhaustion.

Forward Outlook and Risk

Price appears poised to retest key support near 0.0750–0.0749 over the next 24 hours. A break below 0.0749 may trigger a move toward 0.0745–0.0743. Conversely, a sustained close above 0.0762 could reignite upward momentum. Investors should remain cautious given the recent overbought readings and the likelihood of a consolidation phase.