Stacks/Tether USDt Market Overview for 2025-09-06

• STXUSDT rose from 0.617 to 0.618 in 24 hours amid fluctuating volatility and key pattern setups.
• Momentum improved mid-day but showed signs of consolidation in the final hours.
• Volume spiked during the early evening and dipped after 06:00 ET, signaling uneven participation.
• A bullish engulfing pattern appeared at 19:30 ET, suggesting potential follow-through higher.
• RSI showed overbought conditions after 21:00 ET, while Bollinger Bands indicated moderate volatility.

Stacks/Tether USDt (STXUSDT) opened at 0.617 on 2025-09-05 at 12:00 ET, reaching a 24-hour high of 0.628 before closing at 0.618 on 2025-09-06 at 12:00 ET. The pair traded between 0.611 and 0.628 during the period, with a total volume of 760,496.5 STX and a notional turnover of $479,798.90 (calculated as price × volume).

Structure & Formations

Price action revealed a bearish divergence at the 21:00–23:00 ET window, despite a brief rally to 0.628. A bullish engulfing pattern at 19:30 ET (0.619–0.623) hinted at short-term upside potential, but a large bearish candle at 21:30 ET (0.626–0.623) countered that optimism. A key support level formed around 0.620–0.621, with resistance at 0.624–0.625. A doji at 00:30 ET (0.623–0.625) hinted at indecision, likely preceding a consolidation phase.

Moving Averages

On the 15-minute chart, the 20SMA crossed above the 50SMA at 0.618–0.619 in the early evening, forming a short-term bullish signal. However, by 06:00 ET, price dipped below both averages, suggesting a potential correction. On the daily chart, the 50DMA and 100DMA aligned near 0.617–0.618, with the 200DMA providing a long-term floor around 0.616.

MACD & RSI

The MACD crossed into positive territory at 19:30 ET and remained above the signal line until 03:00 ET, but momentum weakened afterward. RSI hit overbought territory (above 65) between 21:00 and 01:00 ET, followed by a pullback to mid-50s, suggesting a possible retracement.

Bollinger Bands

Price remained within the Bollinger Bands for most of the session, with a notable contraction around 03:00–04:00 ET. A breakout occurred briefly at 21:30 ET, reaching the upper band before retreating. The narrow band width during contraction suggested potential for a move either way, although the lack of follow-through indicated cautious sentiment.

Volume & Turnover

Volume surged during the 19:30–21:45 ET window, peaking at 135,990.5 STX for a 15-minute candle, but dropped significantly after 06:00 ET. Turnover closely followed the volume trend, with a strong correlation between increased volume and higher prices during the 19:30–21:00 ET rally. However, a divergence occurred at 21:30 ET, where volume dipped despite a bearish close.

Fibonacci Retracements

Fibonacci levels applied to the 0.611–0.628 swing showed key levels at 0.622 (38.2%) and 0.620 (61.8%). Price tested the 61.8% level twice during the session but failed to hold above it, suggesting it may remain a short-term ceiling. On the daily chart, the 0.616–0.628 swing revealed 0.617 as a strong support (38.2% level) and 0.623 as a potential resistance (61.8% level).

Backtest Hypothesis

A potential backtest could focus on the bullish engulfing pattern at 19:30 ET and the subsequent bearish divergence at 21:30 ET, using a 15-minute timeframe. A long entry could be triggered by the engulfing pattern with a stop-loss below the 0.619 low. A sell exit could follow a bearish crossover in RSI and a close below the 20SMA. A short trade may also be considered on the bearish divergence, with a stop above the 0.624 resistance level.