Market Overview for Stratis/Tether (STRAXUSDT) - 2025-11-09

• STRAXUSDT opened at $0.02807 and closed at $0.02835 after a 24-hour period marked by a 1.26% rise.
• The price reached a high of $0.02954 and found support at $0.02787, indicating short-term volatility and potential for further consolidation.
• Volume spiked to 6.3 million around 00:30 ET, suggesting heightened interest, while total turnover reached $1,107,224.
• The RSI hovered near neutral levels, while MACD showed mixed momentum with no clear overbought or oversold signals.
• Bollinger Bands widened in the early hours, showing increasing volatility, with price settling closer to the upper band by the close.

Stratis/Tether (STRAXUSDT) opened at $0.02807 on 2025-11-09 and closed at $0.02835, having traded between $0.02787 and a high of $0.02954. Total volume reached 63,981,130 STRAX, with a 24-hour turnover of $1,107,224. Price action showed a sharp rally in the first few hours followed by consolidation, with signs of renewed buyer interest in the later part of the day.

Over the last 24 hours, STRAXUSDT displayed a volatile yet structured price pattern. The asset found resistance near $0.02923–$0.02954 and support at $0.02805–$0.02787, with a key candlestick formation observed at $0.02820–$0.02836, resembling a potential bullish reversal. Bollinger Bands expanded in the early hours before tightening, suggesting a period of high volatility followed by a pullback toward the midline. The 20-period and 50-period moving averages crossed near $0.02820–$0.02830, indicating a potential short-term bullish tilt.

The RSI remained in the 50–60 range for most of the day, showing neutral to slightly bullish momentum. MACD lines fluctuated around the signal line, with a few bullish crossovers in the final hours suggesting renewed buying pressure. Notably, the volume surged during the 00:30–01:00 ET window, which coincided with a strong upward move from $0.02836 to $0.03027. However, volume declined gradually afterward, which may signal a possible pause in momentum.

Fibonacci retracement levels at 38.2% (~$0.02865) and 61.8% (~$0.02815) from the $0.02787–$0.02954 swing appear to act as dynamic resistance and support, respectively. Price bounced off the 61.8% level multiple times, suggesting that a break above $0.02865 could target higher retracements. Given these levels and the current momentum indicators, STRAXUSDT may test the $0.02865–$0.02900 range in the next 24 hours. A failure to hold above $0.02815 could result in a retracement toward the 78.6% level at $0.02790.

The backtest strategy described focuses on identifying and acting on Bullish Engulfing candlestick patterns. A Bullish Engulfing pattern typically forms at the end of a downtrend and consists of a small bearish candle followed by a larger bullish candle that engulfs the previous candle’s body. In the context of STRAXUSDT’s 24-hour chart, several potential candidates for this pattern emerged, particularly around the $0.02795–$0.02800 and $0.02815–$0.02820 ranges.

However, the query to identify confirmed Bullish Engulfing signals failed due to missing asset base information. To proceed, an alternative approach would involve using a more precise exchange-specific symbol (e.g., BINANCE:STRAXUSDT) or directly providing the timestamps where the pattern occurred. Once confirmed, these setups could be backtested for entry, stop-loss, and target levels, potentially offering insights into STRAXUSDT’s short-term behavior in similar pattern conditions.