dYdX/Tether Market Overview

• dYdX/Tether traded in a bullish range, with a strong close near the session high of $0.3247.
• Momentum accelerated in the morning hours, with volume and price rising in tandem.
• Key resistance at $0.323–0.325 appears contested but not decisively broken.
• Volatility has expanded, with price moving within +1.5% of the 20-period Bollinger Band range.
• MACD and RSI suggest a potential overbought condition, signaling caution ahead.

The dYdX/Tether (DYDXUSDT) pair opened at $0.3062 on 2025-11-01 at 12:00 ET and closed at $0.3237 on 2025-11-02 at 12:00 ET, trading as high as $0.3247 and as low as $0.3058. Total volume over the 24-hour period amounted to 10,047,682.31 DYDX, with notional turnover of $3,157,026.69. The pair displayed a bullish trend with increasing volume in key upswings.

Price action over the past 24 hours revealed a strong bullish bias, with dYdX/Tether forming a series of higher highs and higher lows from 19:45 ET on November 1 onward. Notable formations included a bullish engulfing pattern around 06:15 ET and a strong piercing line around 05:30 ET. These patterns typically signal potential reversals or continued bullish momentum, suggesting buyers have regained control. Support levels emerged at $0.311–0.313 and $0.305–0.307, while resistance is forming at $0.323–0.325 and $0.330. The 20-period moving average sits at $0.319, while the 50-period is at $0.316, indicating that the 15-minute chart is currently above both, suggesting a short-term bullish bias.

The 15-minute MACD showed a golden cross on November 2, with the line crossing above the signal line, suggesting a potential bullish continuation. RSI climbed above 60 in the morning hours, entering overbought territory. However, price remains aligned with RSI, indicating sustained momentum. The 20-period Bollinger Bands have expanded, with the price currently trading near the upper band, which could suggest a period of consolidation or a pullback to the middle band is possible. On the daily chart, the 50-period moving average is at $0.316, and the 200-period is at $0.313, indicating that the pair remains above its longer-term moving averages, suggesting a continuation of the bullish trend.

Fibonacci retracements on the 15-minute chart identified key levels at $0.321 (38.2%), $0.317 (50%), and $0.313 (61.8%) from the recent swing high. Price showed a potential rejection at the 61.8% level, hinting at the need for confirmation on the 38.2% level to push higher. On the daily chart, key Fibonacci levels from the recent bullish leg are at $0.334 (38.2%), $0.325 (50%), and $0.315 (61.8%), with price currently forming a potential base near $0.315–0.320.

Backtest Hypothesis

The recent MACD golden cross on the 15-minute chart offers an entry trigger that could align with the proposed backtesting strategy—using a golden cross for entry and holding for 10 days. With DYDXUSDT already showing strong momentum and volume confirmation, a 10-day holding period could capitalize on the current bullish trend. However, the RSI entering overbought territory and the price nearing the upper Bollinger Band suggest caution. A pullback into the 50–61.8% Fibonacci range could provide a more attractive entry point if the 10-day window is extended or if the initial signal is used as a confirmation rather than an immediate entry.