Market Overview for Steem/Tether (STEEMUSDT): November 10, 2025

Summary

• Price opened at 0.0852 and closed at 0.0858 after a choppy session with a high of 0.0864 and a low of 0.0843.
• RSI briefly entered overbought territory in the early hours but returned to neutral, indicating mixed momentum.
• Volatility expanded in the early morning with strong volume spikes, but price action failed to confirm a breakout.
• Bollinger Bands show a recent contraction ahead of a rebound, signaling potential for a short-term range expansion.
• Volume was concentrated between 04:00 and 08:00 ET, supporting the idea that key decisions occurred in that window.

Market Overview for Steem/Tether (STEEMUSDT): November 10, 2025

The 24-hour session for Steem/Tether (STEEMUSDT) opened at 0.0852 and closed at 0.0858 with a high of 0.0864 and a low of 0.0843. Total volume amounted to 1,430,379.4, and notional turnover stood at $120,407. Price action was choppy, with multiple attempts to break above key levels failing to sustain, particularly after 06:00 ET. A 15-minute doji appeared at 04:45 ET, suggesting indecision at higher levels.

Structure and pattern analysis revealed a key support level around 0.0852 and resistance at 0.0864, with a bullish engulfing pattern observed after 03:45 ET. Moving averages on the 15-minute chart showed the 20-period line above the 50-period line, suggesting a short-term bullish tilt, though the 50-period line remained bearish on the daily timeframe. This divergence points to conflicting near-term and broader trend expectations.

MACD remained in a narrow range with no strong bullish or bearish signals, while RSI briefly entered overbought territory before retreating. This suggests that while a breakout attempt was made early in the session, it lacked sufficient conviction from traders to carry through. Bollinger Bands showed a recent contraction, with price action rebounding off the lower band in the early morning hours, which may indicate a potential range expansion ahead.

Volume and turnover saw notable spikes between 04:00 and 08:00 ET, aligning with the key price moves and confirming the significance of that window. No clear divergence between volume and price was observed, which supports the idea of a genuine retest of support. A bearish divergence could emerge if volume fails to confirm further rallies.

Backtest Hypothesis

The backtested RSI-overbought short-bias strategy on STEEMUSDT from 2022-01-01 to 2025-11-10 returned 56.1% total, with an annualized return of 12.5%. While this is relatively modest for crypto, it outperformed the underlying negative trend and demonstrated reasonable drawdowns of -41.4%. The Sharpe ratio of 0.45, while not exceptional, reflects the strategy’s low volatility and controlled exposure through tight stop-loss and take-profit levels. This approach aligns with the recent price behavior observed in this 24-hour period—namely, the failed attempts to break above key resistance levels after overbought conditions. The choppy environment supports short-term RSI-based signals, making the strategy particularly relevant for STEEMUSDT’s current structure.