Stratis/Tether (STRAXUSDT) Market Overview: Bearish Breakdown, Key Support Levels to Watch

• STRAXUSDT traded in a tight range for most of the session, with a late breakdown below 0.03
• Momentum turned bearish in the latter half of the session, as RSI and MACD lost bullish impetus
• Volume surged during the sharp decline, confirming bearish conviction in the final hours
• Bollinger Bands expanded in the last 6 hours, signaling increased volatility and a directional shift
• Fibonacci retracements suggest 0.0288–0.0290 as potential support to watch in the next 24 hours

Stratis/Tether (STRAXUSDT) opened at 0.02998 at 12:00 ET-1 and traded between a high of 0.03026 and a low of 0.02675, closing at 0.02745 at 12:00 ET. The 24-hour volume amounted to 11,846,982 STRAX, while total turnover reached $319,635. The pair showed early consolidation before a sharp selloff began in the early hours of the morning, accelerating through the night.

Structural analysis highlights a breakdown from a key horizontal resistance level near 0.0301, followed by a rapid descent into the 0.0270–0.0280 range. A bearish engulfing pattern formed around 02:30 ET, confirming the shift in sentiment. The 20- and 50-period moving averages on the 15-minute chart have both fallen below the price, reinforcing the bearish bias. On the daily chart, the 50- and 100-period moving averages remain above the price, suggesting a potential longer-term divergence.

The MACD histogram turned negative after 02:00 ET, and RSI dipped below 40 by 06:00 ET, signaling oversold conditions. However, the price failed to show any meaningful bounce off these levels, raising concerns about liquidity and further downside. Bollinger Bands expanded significantly in the last 6 hours of the session, with price closing near the lower band—indicating heightened bearish volatility. A potential bounce could face resistance at the 23.6% Fibonacci level of 0.0276, though a deeper test of the 38.2% level at 0.0279 remains likely.

Volume activity surged during the sharp sell-off, particularly between 02:30 and 04:30 ET, with turnover rising to over $85,000 in the 03:00–03:15 ET window. This was a clear confirmation of bearish momentum, especially as the price broke below key support levels. The divergence between the morning’s early bullish volume and the bearish late-session activity suggests a shift in market sentiment toward caution and profit-taking. The final 6 hours saw the largest single-volume candle of the session (02:30–02:45 ET), with a turnover of $85,340. This may indicate large institutional or algorithmic selling.

Backtest Hypothesis
A potential short-selling strategy could be tested using the RSI indicator, with entry triggered when RSI crosses above 70 (overbought zone) and exit when it falls below 70 again. A 14-period RSI and a 20-period moving average could be used as the core indicators to filter false signals. Stop-loss could be placed at the 38.2% Fibonacci retracement level, and take-profit at the 61.8% level. This setup could be evaluated from 2022-01-01 to 2025-11-03 using close prices to generate trade signals.