DigiByte/Tether Market Overview – 2025-11-08

Summary
• DGBUSDT opened at $0.00919 and closed at $0.00915, down by $0.00004.
• Price hit a 24-hour high of $0.01015 and a low of $0.00888.
• Volume and turnover surged during the bearish reversal, indicating significant participation.

DigiByte/Tether (DGBUSDT) opened at $0.00919 on 2025-11-07 at 12:00 ET and closed at $0.00915 on 2025-11-08 at the same time. The pair reached a high of $0.01015 and a low of $0.00888 over the 24-hour period. Total volume amounted to approximately 138,212,658.09 DGB, and notional turnover reached $1,330,902.73.

Structure & Formations

The 24-hour chart shows a strong bearish reversal after a short-lived bullish breakout above $0.0100. A key bearish pattern emerged at $0.01002—$0.01007 in the early evening, forming a descending inside bar followed by a bearish engulfing pattern, which appeared to signal exhaustion in the upward move. Price then retested support at $0.0096 and $0.0093, with the 24-hour low at $0.00888 acting as a new potential support level. A doji near $0.00914 in the final candle suggests indecision or consolidation.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages have been in a bearish crossover for most of the session, suggesting continued downward pressure. The 50-period MA sits just above $0.00935, and the price has stayed below both, indicating a weak short-term trend. On the daily chart, the 50-period MA (not computed here) would likely be above the 200-period MA, supporting a bearish bias for the broader timeframe.

MACD & RSI

The 15-minute MACD turned negative after 19:45 ET, confirming bearish momentum. RSI dipped to 25 at the 24-hour low, indicating oversold conditions, although this has not yet translated into a rebound. Divergence between RSI and price suggests a potential bounce could follow, but bearish pressure remains strong.

Bollinger Bands

Price has spent much of the session near the lower Bollinger Band, indicating a consolidation in a low-volatility environment. A temporary expansion occurred around $0.0100 as traders pushed higher, but the subsequent collapse back to the lower band reflects a lack of follow-through buying. The bands have since compressed again, signaling a possible period of consolidation ahead.

Volume & Turnover

Volume spiked sharply during the bearish breakdown at $0.0096 and again at $0.0093 as traders accelerated selling. Notional turnover (DGB price × volume) also spiked during these intervals, indicating meaningful participation. However, volume has since dropped off, suggesting the market may be running out of steam in the short term.

Fibonacci Retracements

The $0.01002–$0.00954 swing saw price retrace to 61.8% at $0.00981 before reversing lower. On the daily chart, if the broader move from $0.01015 to $0.00888 is considered, the 38.2% retracement level is around $0.00967, and the 61.8% is $0.00937—both of which were tested during the session. Price stalled near the 61.8% level, which may now act as a support.

Backtest Hypothesis

The backtesting strategy in question relies on RSI-14 to detect overbought or oversold conditions. Given that RSI dipped to 25 during this session, such a system might have generated a buy signal near $0.00895. However, the absence of a clear rebound suggests that RSI alone may not be sufficient without additional confluences such as price action or volume confirmation. A more robust strategy would likely pair RSI with a moving average or Bollinger Band breakout filter to reduce false signals.