Stacks/Tether (STXUSDT) Market Overview: Volatility and Bearish Pressure in a 24-Hour Window

• STXUSDT declines from 0.4290 to 0.4251, with 0.424–0.426 likely support.
• Momentum slows in RSI, with no overbought/oversold signs.
• Volume spikes during the 09:00–10:00 ET session, coinciding with a 0.429 high.
• Bollinger Bands widen post-09:00 ET, showing increased volatility.
• No clear bullish engulfing patterns seen; trend remains bearish.

Opening at 0.4216 on 2025-11-01 at 12:00 ET, Stacks/Tether (STXUSDT) traded to a high of 0.4290 and a low of 0.4074, closing at 0.4251 by 12:00 ET the next day. Total 24-hour volume reached 2.86 million STX, with notional turnover of ~$1.23 million, reflecting moderate interest but uneven flow.

Price action revealed a bearish bias, particularly after the 15-minute candle on 2025-11-01 at 09:00 ET surged to 0.4290, forming a short-lived high. A sharp pullback followed, with the price dropping below key moving averages. The 20-period and 50-period SMAs on the 15-minute chart are currently above the price, reinforcing bearish momentum. On the daily chart, the 50-period SMA sits at 0.426, while the 200-period SMA is at 0.418—suggesting a potential consolidation phase if 0.424–0.426 holds.

MACD remains in negative territory, with a bearish crossover between the signal and line occurring around 10:00 ET, aligning with the decline in price. RSI hovered around the 50–55 range all day, indicating neutral momentum and no signs of overbought or oversold levels. Bollinger Bands show increasing width after 09:00 ET, reflecting heightened volatility, and price remains near the upper band at times, suggesting aggressive short-term activity.

The most recent swing high at 0.4290 offers a Fibonacci retracement level at 0.426 (38.2%) and 0.421 (61.8%), both of which correspond to key moving averages. The 61.8% level appears to be a strong candidate for near-term support, but a breakdown below 0.420 could signal deeper bearish potential. On the 15-minute chart, price appears to test and retest the 0.424–0.426 range, suggesting a potential reversal point if bulls step in.

Looking ahead, STXUSDT may test the 0.424–0.426 support cluster, with a bearish outlook unless a bullish reversal pattern emerges. A retest of 0.4290 is unlikely in the short term due to the current momentum and risk of further bearish continuation.

Backtest Hypothesis

An attempt to backtest the performance of Bullish Engulfing patterns on STXUSDT was hindered by a data limitation—specifically, the unavailability of pattern-detection feeds for this asset in the current dataset. This lack of data complicates the use of candlestick-based strategies for this pair.

To move forward, a manual list of Bullish Engulfing occurrences could be provided in yyyyMMdd format for direct event-based backtesting. Alternatively, a CSV or JSON file containing the pattern dates can be shared for immediate processing. A simpler rule-based alternative—such as using RSI oversold conditions—might be a viable workaround, as these indicators are more reliably available for STXUSDT.