Market Overview for Stratis/Tether (STRAXUSDT): 24-Hour Analysis as of 2025-10-08

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• STRAXUSDT opened at $0.03803 and traded between $0.03746 and $0.03822 before closing at $0.03801.
• Price consolidated around $0.0378–0.03795, with key resistance near $0.03805 and support near $0.03765.
• Low volatility and mixed candlestick patterns suggest indecision in the short term.
• Turnover increased during late ET hours, coinciding with a sharp dip and recovery.
• RSI showed overbought conditions briefly before a pullback, suggesting near-term exhaustion.

STRAXUSDT opened at $0.03803 on 2025-10-07 at 12:00 ET and closed at $0.03801 as of 12:00 ET on 2025-10-08. The pair reached a high of $0.03822 and a low of $0.03746, with total volume of 7.59 million STRAX and a notional turnover of approximately $281,529 over the 24-hour window.

Structure & Formations

The 15-minute chart reveals a consolidation pattern forming between $0.03765 and $0.03805. Key support levels are identified at $0.03765 (a recent low) and $0.03785 (a prior pivot), while resistance appears to cluster near $0.03805 and $0.03815. Several bearish and bullish engulfing patterns were observed, with the most notable appearing at $0.03773 and $0.03809, suggesting potential reversals. A long-legged doji at $0.03787 hints at indecision during early ET hours.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart are relatively close, with the 20-period line slightly above the 50-period, indicating a neutral to mildly bullish bias. On the daily chart, the 50-period MA is below the 100 and 200-period lines, signaling a bearish alignment for the longer term. Price remains below all three key daily averages, reinforcing a downtrend structure.

MACD & RSI

MACD showed a bearish crossover late in the trading session, with the histogram flattening as bearish momentum waned. RSI reached overbought levels (~60–65) mid-session, followed by a pullback into neutral territory. This suggests a possible near-term reversal if price stabilizes above $0.03785. A divergence was noted between price and RSI in the late hours of ET, suggesting a potential bounce ahead.

Bollinger Bands

Volatility expanded slightly during the overnight session, with price fluctuating between the lower and middle bands for much of the day. A brief contraction was observed between 02:00 and 04:00 ET, followed by a breakout attempt near the upper band. Price currently resides near the middle band, indicating a return to equilibrium and potential for a continuation if the upper band is cleared.

Volume & Turnover

Volume spiked during a sharp dip in price at 18:00 and 19:00 ET, with over 100,000 STRAX traded in each session, indicating potential bearish pressure. Turnover increased in tandem, reaching a peak of $14,620 during the 04:30 ET candle. Notably, volume declined during the late ET recovery, suggesting the upward move may lack conviction. Divergences between price and volume were observed during the final 2 hours of the session.

Fibonacci Retracements

Applying Fibonacci levels to the 24-hour swing from $0.03746 to $0.03822, key retracement levels are identified at 38.2% ($0.03785), 50% ($0.03783), and 61.8% ($0.03781). Price appears to have found initial support near the 61.8% level before rebounding. On the 15-minute chart, intra-swing retracements suggest a potential target at $0.03795 if the current trend continues.

Backtest Hypothesis

A viable backtesting strategy could involve entering long positions when price closes above the 20-period moving average on the 15-minute chart and RSI crosses above 50, with a stop-loss placed below the most recent swing low. Given the current structure, this setup may be most effective if volatility increases and volume confirms the break above $0.03805. A short-term target of $0.0382–0.0383 could be used, with exit triggered by a MACD bearish crossover or RSI overbought condition. The setup appears most valid during ET hours when liquidity and volume are higher.