Market Overview for Streamr/Tether (DATAUSDT)

Summary
• Price consolidates near 0.00700 with recent volatility contraction.
• Volume peaks during early morning ET, followed by a bearish reversal in late ET.
• Momentum remains neutral, with RSI suggesting neither overbought nor oversold.

On 2025-11-06, Streamr/Tether (DATAUSDT) opened at 0.00694, reached a high of 0.00723, fell to a low of 0.00682, and closed at 0.00718. The 24-hour volume was 23,297,136.6 with a notional turnover of $164,721.60. Price activity shows a modest recovery after a sharp bearish break in the early hours, with support forming around 0.00686–0.00695 and resistance at 0.00705–0.00715.

Structure & Formations

The price action shows a bearish breakdown from 0.00700 in the early morning, forming a key support at 0.00686–0.00695. A Bullish Engulfing pattern emerged around 03:00–03:15 ET, followed by a Doji at 03:45–04:00 ET, indicating indecision. A strong Bullish Pinocchio candle at 05:00–05:15 ET signaled a reversal, with a subsequent consolidation at 0.00700–0.00718.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages have been in a tight cluster around 0.00700–0.00705, suggesting a sideways bias. On the daily chart, the 200-period MA appears to act as a long-term support at 0.00695–0.00700.

MACD & RSI

The MACD line has been flat to slightly positive around 0.00002–0.00005, with the signal line lagging behind. The RSI has moved from oversold territory (<30) in the early morning to mid-range (~48–54) by the end of the day, suggesting momentum is picking up after the bearish break.

Bollinger Bands

Volatility has expanded in the early morning, with the bands widening from 0.00690–0.00705 to 0.00680–0.00715. Price has spent most of the day near the upper and lower band boundaries, indicating a possible breakout scenario in the near term.

Volume & Turnover

Volume spiked dramatically at 06:00–06:15 ET with over 3.5 million contracts traded, coinciding with the highest high of the day (0.00729). This suggests strong buying pressure. However, a divergence appeared in the late morning as price dropped but volume remained low, hinting at potential weakness in the upside move.

Fibonacci Retracements

Applying Fibonacci to the 06:00–12:00 ET move, the 38.2% retracement level is at 0.00708 and the 61.8% at 0.00713, both of which align with the 05:00–06:00 ET price consolidation. The 0.00705–0.00715 range could act as a temporary resistance zone.

Backtest Hypothesis

The described backtest relies on a Bullish Engulfing candlestick pattern to generate long entry signals. Given the recent 03:00–03:15 and 05:00–05:15 ET engulfing candles, this strategy aligns with current price action. With the 3-day holding rule and absence of stop-loss, the results depend on how well these patterns predict short-term directional moves. A similar approach would likely benefit from current volatility and pattern frequency, assuming a continuation of the bullish trend.