Market Overview for Stratis/Tether (STRAXUSDT) on 2025-12-28

Summary
• Price formed bearish engulfing and morning star patterns around 0.0197–0.0198 resistance.
• Sharp intraday drop to 0.01954 was confirmed by high volume and turnover.
• RSI remains in oversold territory, suggesting possible short-term reversal.
• Bollinger Bands show tightening volatility followed by a break below the lower band.
• Turnover spiked during the early morning decline but has since stabilized.

The 24-hour period for STRAXUSDT began with an open of 0.01977 and reached a high of 0.02101 before closing at 0.01964 at 12:00 ET. The low hit 0.0194 during the session. Total volume amounted to 5,397,197.0, and notional turnover reached 109,249.06 USD.

Structure & Formations

The price action revealed a bearish engulfing pattern at 0.0197 and a morning star near 0.0198, signaling indecision and potential reversal. A strong bearish thrust occurred as the price dropped below 0.01959, forming a morning star pattern at 0.01976.

Moving Averages

On the 5-minute chart, price spent much of the session below the 20 and 50-period moving averages, reinforcing a bearish bias. Daily MA indicators (50/100/200) are not available, but the short-term trend remains bearish.

Momentum and Indicators

The RSI has been in oversold territory for much of the session, suggesting the pair could consolidate or rebound slightly. The MACD line turned negative and remains below the signal line, indicating bearish momentum.

Bollinger Bands

Volatility initially tightened before a sharp break to the downside. Price closed near the lower band, suggesting continued weakness unless a retest of key support levels triggers a bounce.

Volume and Turnover

Volume spiked during the early morning decline, confirming the bearish break. Turnover closely followed volume trends, showing no signs of divergence. The recent stabilization in both metrics indicates a potential pause in selling pressure.

Fibonacci Retracements

On the 5-minute chart, key retracement levels include 0.0197 (38.2%) and 0.0198 (61.8%), which have been tested multiple times. A sustained close above 0.0198 could signal a short-term reversal.

Looking ahead, a test of the 0.0196 support level may trigger a rebound if buyers step in. Investors should monitor for a potential bounce near 0.01965, but bearish pressure could continue if that level fails. As always, volatility remains a key risk.