Market Overview: DAR Open Network/Tether (DUSDT) - 24-Hour Summary

• Price declined from $0.02306 to $0.02253, forming bearish momentum and a large bearish engulfing pattern early in the session.
• RSI dipped below 30 during the session, indicating oversold conditions but failed to spark a strong rebound.
• Volatility remained low, with price staying within a tight range near the lower Bollinger Band for much of the session.
• Turnover spiked during the 19:15–19:45 ET window, coinciding with a sharp intraday rebound, but failed to sustain higher prices.
• 20-period and 50-period moving averages on the 15-minute chart remained bearish, with price below both.

DAR Open Network/Tether (DUSDT) opened at $0.02297 on 2025-10-22 at 12:00 ET, reached a high of $0.02306, a low of $0.02233, and closed at $0.02253 on 2025-10-23 at 12:00 ET. Total volume traded was 9,358,146 units, and total notional turnover (amount) was approximately $219,972 over the 24-hour period. The pair showed a bearish trend, with a mix of consolidation and sharp intraday movements, especially during late evening hours.

Structure & Formations

The 15-minute chart revealed a significant bearish engulfing pattern during the initial 15-minute candle (16:00 ET), which marked the top of the session. A long bearish body followed as price dropped sharply. Later, a bullish reversal pattern emerged between 19:15 and 19:45 ET, with a strong close near the high of the candle, suggesting temporary buying pressure. However, the rally failed to break the 50-period moving average, and a doji formed at 21:00 ET, hinting at indecision in the market.

Moving Averages

The 15-minute chart showed a bearish bias as the 20- and 50-period moving averages remained well above the current price, confirming the downward trend. On the daily chart, the 50, 100, and 200-period moving averages are also above the current price, reinforcing the bearish setup. Price appears to be consolidating near the 20-period MA, suggesting a potential short-term reversal could be in play if it holds above $0.0225.

MACD & RSI

The MACD line turned negative during the morning hours and remained below the signal line for most of the session, reflecting bearish momentum. The histogram showed increasing negative divergence as the price dropped, with a brief positive spike during the intraday rebound. RSI dipped below 30 at one point, indicating oversold conditions, but failed to trigger a strong bounce, hinting at weak short-term support. Momentum remains bearish, though signs of a potential short-term reversal may be emerging.

Bollinger Bands

Price spent a large portion of the session near the lower Bollinger Band, indicating low volatility. A brief expansion occurred during the 19:15–19:45 ET period, as the price moved closer to the middle band. This suggests a temporary increase in volatility, possibly driven by a short-covering rally. However, the price remained below the 20-period moving average, suggesting that the bearish trend is intact. A move above the middle band could signal a potential countertrend reversal.

Volume & Turnover

Volume remained relatively low throughout the early part of the session, with a sharp spike during the 19:15–19:45 ET period as price attempted a rebound. This spike in volume supported the price action, suggesting genuine buying interest during that window. However, the subsequent pullback suggests that the buyers were unable to sustain momentum. The notional turnover also peaked during this time, confirming the volume increase. Divergences between volume and price were not significant, but the lack of sustained follow-through after the rebound raises questions about the strength of the bounce.

Fibonacci Retracements

Applying Fibonacci retracement levels to the intraday swing from $0.02306 to $0.02233, price found support near the 61.8% level (~$0.02258) during the rebound. The current price of $0.02253 is just below this level, suggesting that further downside could be limited if the 61.8% retest holds. On the daily chart, the price is near the 38.2% retracement level of a larger bearish move, indicating potential for further consolidation or a short-term bounce.

Backtest Hypothesis

Given the bearish momentum and key Fibonacci support at $0.02258, a potential backtest strategy could involve a short bias entry with a stop above the 61.8% retracement level. A long bias entry could also be considered during a test of the lower Bollinger Band or RSI below 30, provided volume confirms the breakout. This approach would aim to capture countertrend bounces or confirm the continuation of the bearish trend based on the 20/50-period MA and MACD divergence.