DeXe/Tether Market Overview for 2025-11-01

• Price action shows a sharp decline from $7.18 to $6.81, followed by a consolidation phase.
• RSI suggests overbought conditions in early morning, but momentum weakened sharply.
• Volatility spiked during the downturn but has since stabilized, with volume confirming the trend.
• A potential support level forms near $6.95, while resistance retests $7.09.
• MACD crossover signals bearish momentum, while Bollinger Bands show a narrowing range.

DeXe/Tether (DEXEUSDT) opened at $7.06 on 2025-10-31 12:00 ET, reached a high of $7.44, a low of $6.71, and closed at $7.29 on 2025-11-01 12:00 ET. Total volume for the 24-hour period was 245,431.69 units, with a notional turnover of $1,749,762.80.

The market structure reveals a bearish breakdown in the early hours of the day, with a sharp drop from ~$7.18 to ~$6.81. A bearish engulfing pattern formed during the 17:00–18:00 ET window, followed by a doji near $6.85, signaling indecision. Support levels are consolidating at $6.95–$6.97, with earlier resistance at $7.09–$7.12 appearing vulnerable to further retests. The price is currently forming a bullish flag pattern, with potential for a short-term rebound.

Moving Averages and Volatility

On the 15-minute chart, the price closed below the 20-period (EMA 20) and 50-period (EMA 50) lines, which is bearish. The 50 EMA is at ~$7.05, and the 20 EMA at ~$7.10, suggesting the price is below both and could test further support. Bollinger Bands indicate a contraction in the afternoon and early evening, followed by a breakout in the early morning hours. This suggests a period of consolidation before the recent move up.

Momentum and Sentiment Indicators

The RSI hit overbought territory (~70) around 06:00–08:00 ET, but the price failed to hold there, and RSI dropped sharply into neutral to oversold territory (~50–40), indicating a loss of momentum. MACD crossed below the signal line during the early downturn, forming a bearish divergence. However, a recent crossover back above zero in the morning suggests improving short-term sentiment.

Volume and Turnover Analysis

Volume spiked significantly during the 17:00–19:00 ET window as the price dropped from $7.07 to $6.81, with notional turnover reaching $144,000 in a single 15-minute period. The price and volume diverged later in the morning, with volume decreasing despite a price rebound, suggesting weak conviction in the move. Turnover has since stabilized, with a modest increase during the 08:00–10:00 ET rebound.

Backtest Hypothesis

The price action and indicator behavior suggest that a backtest using RSI overbought conditions and MACD divergence could be valuable for DeXe/Tether. A strategy based on RSI (14) > 70 for entry, and bearish MACD crossovers above zero for confirmation, could identify potential short opportunities. For a sell signal, exiting at the next 5-day low provides a clear exit rule. Given the recent volatility and overbought-to-oversold swing, this backtest could offer insight into the asset’s responsiveness to these signals.