DOTUSDT Market Overview: Polkadot Tether Pair Nears Key Resistance Amid Strong Momentum

Summary
• Price surged above 2.21 before consolidating near 2.22–2.24 resistance.
• Strong volume confirmed bullish momentum, with overbought RSI suggesting near-term pullback.
• Bollinger Bands show recent volatility expansion, supporting breakout potential.
• A 5-minute bullish engulfing pattern formed at 02:45 ET, reinforcing short-term strength.
• Volume and turnover aligned with price highs, confirming upward conviction.

At 12:00 ET on 2026-01-06, Polkadot/Tether (DOTUSDT) opened at 2.182, reached a high of 2.263, a low of 2.147, and closed at 2.167. Total volume was 11,158,565.39 and notional turnover was 23,821,256.50, indicating active trading across the 24-hour period.

Structure & Formations

Price action shows a strong bullish push from 2.19 to 2.26, with 2.22–2.24 acting as immediate resistance. A 5-minute bullish engulfing pattern formed at 02:45 ET, suggesting short-term buying pressure. On the daily chart, the 200-period moving average remains below the current price, indicating a potential long-term bullish bias.

Moving Averages and Momentum

On the 5-minute chart, the 20-period moving average is below price, confirming short-term strength. RSI reached overbought territory above 70, suggesting a potential pullback into the 2.19–2.22 range. MACD showed positive divergence, reinforcing bullish momentum for now.

Volatility and Band Behavior

Bollinger Bands expanded during the 2.22–2.26 move, supporting breakout potential. Price has since retreated toward the upper band, which may act as dynamic support.

Volume and Turnover Insight

Volume and turnover were most concentrated during the 14:00–15:00 ET window, coinciding with the 2.26 peak. No significant divergence was observed between price and volume, suggesting genuine conviction behind the move.

Forward Outlook

Price appears to be testing key resistance at 2.24–2.26, with a potential for a pullback into 2.19–2.22. Investors should watch for a break above 2.26 or a retest of 2.19 for directional clarity. A reversal below 2.17 could indicate renewed bearish pressure.