Market Overview for Dash/Tether (DASHUSDT): Bullish Momentum Amid Volatility

• Dash/Tether (DASHUSDT) rose 4.1% over 24 hours, breaking above 24.00.
• Volume surged 63% in the last 6 hours amid strong buying pressure.
• RSI hit 62, indicating moderate momentum but not overbought conditions.
• A bullish engulfing pattern formed near 24.00, suggesting short-term strength.

24-Hour Price and Volume Summary

Dash/Tether (DASHUSDT) opened at $23.39 on 2025-09-17 12:00 ET and closed at $24.30 as of 2025-09-18 12:00 ET, reaching a high of $25.00 and a low of $23.20. Total traded volume for the 24-hour window was approximately 63,000 units, with notional turnover exceeding $1.5 million.

Structure & Formations

Price formed a strong bullish engulfing pattern near the 24.00 level, confirming a key breakout after several attempts to rise above that threshold. A strong support level appears at 23.88, as price tested this level multiple times before rebounding. A doji candle emerged near 23.97, signaling potential indecision.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are in a bullish crossover, with the 20 MA above the 50 MA. The 50-period MA is rising, suggesting sustained upward momentum in the near term.

MACD and RSI

MACD lines showed a positive divergence in the last 4 hours, indicating strengthening bullish momentum. RSI remains in neutral territory at 62, with no signs of overbought conditions yet. This suggests that buyers are still in control and price may continue to rise.

Bollinger Bands

Price is currently trading near the upper Bollinger Band, suggesting heightened volatility and strong buying pressure. A contraction in band width was observed earlier in the day, followed by a sharp expansion—often a sign of an impending breakout, which has now been confirmed.

Volume and Turnover

Volume surged to over 14,910 units in the 6 a.m. to 7 a.m. ET hour, correlating with the sharp move to $25.00. Notional turnover during this period reached $373,000, confirming the strength of the move. Divergence in volume and turnover has not been observed, indicating strong alignment between price and on-chain activity.

Fibonacci Retracements

A 61.8% Fibonacci retracement level sits at $24.25, which has been a strong resistance-turned-support level as price tested it and moved above. A 38.2% retracement at $24.08 has been a minor resistance and appears to have been absorbed by the current upward trend.

Backtest Hypothesis

Given the confirmed bullish engulfing pattern, strong RSI, and positive MACD divergence, a potential backtest strategy would involve a long entry at $24.05 with a stop-loss placed below $23.88 (the key support level). A target can be set at $24.60, reflecting a 61.8% extension from the recent swing low. This setup could be tested on similar 15-minute candles with comparable RSI and MACD signals. The strategy would aim to capitalize on short-term bullish momentum while managing risk through defined stop-loss and take-profit levels.