Stratis/Tether Market Overview (2025-11-05)

Summary
• Price dipped from 0.0257 to 0.02492, with bearish momentum intensifying in late ET hours.
• Volatility expanded as volume surged past 1.6M at 18:45 ET.
• RSI data unavailable; key support at 0.02477 may be tested.

Stratis/Tether (STRAXUSDT) opened at 0.0257 on 2025-11-04 12:00 ET, reaching a high of 0.02616 before declining to a 24-hour low of 0.02428, and closing at 0.02492 on 2025-11-05 12:00 ET. Total volume reached 10.9M STRAX, with a notional turnover of $282,619 (calculated as volume × average close price).

Structure & Formations

Price formed a bearish engulfing pattern at 18:45 ET, confirming a reversal from early gains. A key support level at 0.02477 was briefly breached, with a potential rebound forming a bullish hammer at 00:00 ET. Resistance appears clustered around 0.0252–0.0254, with a prior high of 0.02583 acting as a critical level for short-term buyers.

Moving Averages

On the 15-minute chart, the 20-period MA (0.0253) fell below the 50-period MA (0.0254), forming a bearish crossover. On the daily chart, price continues to trade below both 50 and 200-period MAs, indicating a bearish bias. A potential retest of the 200 MA at ~0.0251 could offer a tactical entry level.

Bollinger Bands

Volatility expanded significantly after 18:00 ET, with the 20-period Bollinger Bands widening from ~0.0253 to 0.0259. Price traded near the lower band for much of the session, reaching the lower boundary at 0.02428. This suggests oversold conditions may be in play, though the lack of RSI data prevents confirmation.

Volume & Turnover

Volume spiked to 1.685M at 18:45 ET and 1.594M at 21:00 ET, coinciding with sharp declines. Turnover aligned with these volume surges, confirming bearish pressure. A divergence between declining price and increasing turnover suggests continued selling, though a reversal in volume flow at 0.02492 may indicate short-term exhaustion.

Fibonacci Retracements

Applying Fibonacci to the 18:00–20:30 ET decline (0.02566 to 0.02473), the 38.2% level at 0.02519 and 61.8% at 0.02499 correspond to recent support levels. Price closed near the 61.8% retrace, suggesting it may find temporary support before breaking lower.

MACD & RSI

MACD turned negative after 18:00 ET, confirming a bearish shift in momentum. The histogram showed a steady contraction, signaling weakening bearish pressure in the last 6 hours. RSI data remains unavailable; however, the price action and MACD suggest overbought conditions were corrected.

Backtest Hypothesis
The RSI data currently unavailable is critical for validating a potential backtest strategy based on RSI < 30 as an oversold entry signal. In the absence of real-time RSI, this session’s price behavior—especially the sharp drop near 0.02477—may have aligned with typical oversold conditions. A backtest using proxy price data could simulate entries near these levels and track a 5-day hold. However, the absence of accurate RSI readings limits precision. One approach is to compute RSI manually using the 15-minute OHLC data provided, then run the strategy for the next 20 days to evaluate performance.