Market Overview: STEEMUSDT – 24-Hour Analysis for 2025-09-18

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• STEEMUSDT posted a bullish close of $0.136, up from $0.1316 at 12:00 ET–1, with a 24-hour high of $0.1366 and a low of $0.1311.
• The pair surged above key resistance at $0.135 and formed a bullish continuation pattern in the last candle of the session.
• RSI and MACD show bullish momentum, with RSI near 60 and MACD crossing above zero.
• Bollinger Bands show a moderate expansion, with price hovering near the upper band toward the close.
• Volume spiked sharply post 20:00 ET, confirming strength in the upward move, with turnover exceeding $4,500.

Price Action and Initial Observations

Steem/Tether (STEEMUSDT) opened at $0.1316 on 2025-09-17 at 12:00 ET and closed the 24-hour window at $0.1360 on 2025-09-18 at 12:00 ET, with a high of $0.1366 and a low of $0.1311. Total volume for the 24-hour window was 2,323,000, while notional turnover stood at approximately $307,700. Price action showed a clear upward bias, particularly after 20:00 ET, with a late-day push toward $0.1366.

Structure & Key Levels

The pair found initial resistance at $0.135 and broke through it decisively, with a large bullish candle at 22:30 ET confirming the move. A key support level appears to have formed around $0.134, which was tested and held multiple times. A doji candle formed at $0.1339 during the early morning, signaling indecision, but price quickly regained momentum.

Bullish continuation patterns were observed in the late hours, especially with a large bullish bar at $0.1364 at 01:45 ET. This pattern, coupled with strong volume, suggests a potential for further gains in the near term.

Moving Averages and Momentum

On the 15-minute chart, the 20-period and 50-period moving averages crossed above $0.1345, supporting the bullish case. The daily chart also shows a positive trend with the 50-day MA sitting below the 200-day MA, indicating a longer-term bullish bias.

The RSI currently sits at approximately 60, suggesting moderate momentum and no overbought condition, indicating room for a potential extension. The MACD histogram is positive and expanding, with the signal line crossing above zero, reinforcing the bullish narrative.

Variance and Volume Analysis

Bollinger Bands expanded moderately in the late hours, with price closing near the upper band, a sign of increased volatility and bullish pressure. The band width increase suggests traders may expect further upward movement.

Volume spiked significantly between 20:00 and 04:00 ET, especially around the $0.136 mark. This confirms that the bullish price action was supported by strong buying pressure. Notional turnover also rose during this window, aligning with the price surge and validating the bullish momentum.

Fibonacci retracement levels for the recent swing from $0.1311 to $0.1366 show the $0.1348 (38.2%) and $0.1359 (61.8%) levels as potential targets. Price has already surpassed the 61.8% level and may test the psychological $0.137 level next.

Backtest Hypothesis

The provided backtesting strategy focuses on a combination of RSI divergence, volume confirmation, and Bollinger Band breakouts. Given the current STEEMUSDT structure, a potential backtest could look for RSI divergence below 30 on the 15-minute chart (oversold condition), followed by a volume spike and a breakout above the upper Bollinger Band.

This scenario aligns with the late-night move above $0.1364, where RSI was above 50 and volume surged. If repeated over multiple cycles, this strategy could be optimized for intraday or swing trading. However, it would need to account for false breakouts and volatility compression to avoid overfitting.