Market Overview for SXTUSDT: 24-Hour Movement and Setup

• Price traded between $0.0478 and $0.0517, closing near key resistance.
• Volume spiked during late afternoon ET, hinting at short-term accumulation.
• RSI remains neutral, while MACD signals potential bearish divergence.

Space and Time/Tether (SXTUSDT) opened at $0.0502 at 12:00 ET − 1 and closed at $0.0487 by 12:00 ET, with a high of $0.0517 and a low of $0.0478. Total volume reached 22,005,551.1 over the period, with a notional turnover of $1,075,666 (assuming average price of $0.0488).

Structure & Formations

The 24-hour candlestick chart reveals a bearish bias, particularly after 17:00 ET on 2025-11-09, where the price broke below a prior support level of $0.05. A key bearish engulfing pattern formed at $0.0503–$0.05, followed by a confirmation candle at $0.0497–$0.05. This was followed by a consolidation phase that saw price retest the $0.0493–$0.0499 range.

Moving Averages

Short-term averages (20/50) on the 15-minute chart show the price trading below both, with a bearish crossover observed after 20:30 ET. Longer-term (50/100/200) averages are not as significant in this time frame but suggest continuation of a broader bearish trend.

MACD & RSI

The MACD crossed below the signal line after 18:00 ET, indicating bearish momentum. RSI remains within a neutral range (40–55), but a bearish divergence is visible in the last four hours of trading as prices fell while RSI remained flat.

Bollinger Bands

Price touched the lower Bollinger Band at $0.0478 and bounced slightly upward but failed to break above the 1σ level. This suggests potential oversold conditions but weak conviction in a reversal.

Volume & Turnover

Volume spiked notably during the 07:30–09:00 ET timeframe, with over 1.2 million contracts traded, suggesting increased activity following a short-term rebound. However, this was not accompanied by a significant increase in price, signaling a potential bearish exhaustion.

Fibonacci Retracements

Applying Fibonacci to the recent 15-minute swing high ($0.0517) and low ($0.0478), the key levels are at $0.0502 (38.2%) and $0.0490 (61.8%). The price has tested the 61.8% level twice and is currently consolidating near $0.0487, suggesting potential bearish continuation if this level breaks.

Backtest Hypothesis

A potential backtest could focus on Morning-Star candlestick patterns, particularly in conjunction with Fibonacci levels and RSI. For example, if a Morning-Star pattern forms near a 61.8% Fibonacci retracement and RSI shows divergence, it could signal a high-probability reversal entry. However, the current data for SXTUSDT shows no such pattern recently. To validate this strategy, a backtest could be run using a similar asset or ETF that exhibits frequent Morning-Star setups, such as SPY, to test entry and exit rules with a 5-day holding period.

Forward-Looking View

In the next 24 hours, SXTUSDT may test the $0.0485–$0.0487 range for potential bearish continuation. A break below $0.0485 could target $0.0478, while a rebound above $0.0490 may trigger a short-term bounce. Investors should monitor volume and RSI for signs of reversal or exhaustion. Risk remains to the downside as bearish momentum appears to be gaining traction.