Market Overview for Dego Finance/Tether (DEGOUSDT) on 2025-10-08

• Price rose from 1.096 to 1.15, with key resistance around 1.139 and support at 1.102–1.103.
• Momentum accelerated in the last 6 hours, with RSI peaking near 65–70, suggesting moderate overbought conditions.
• Volatility expanded in the last 8 hours, with volume spiking above 70,000 on the final candle.
• Bollinger Bands widened, and price closed near the upper band, indicating bullish momentum.
• Turnover confirmed the price rally, with no major divergence seen in the last 24 hours.

Dego Finance/Tether (DEGOUSDT) opened at 1.114 on 2025-10-07 at 12:00 ET and closed at 1.129 at 12:00 ET on 2025-10-08. The pair reached a high of 1.15 and a low of 1.096 over the 24-hour window. Total volume was 748,290.3, and notional turnover exceeded $832,000.

The 15-minute chart showed a bullish consolidation trend, with price breaking above a key resistance at 1.13 after a bearish correction. A large bullish engulfing pattern formed on the early morning hours, followed by a higher high and higher close formation. Key support levels are now 1.102–1.103 and 1.107, with 1.139 acting as a strong resistance level. The price appears to be testing the upper end of the Bollinger Bands, suggesting elevated volatility and strong momentum.

The 20-period moving average crossed above the 50-period line in the late night, indicating a short-term bullish crossover. The 50-period moving average on the daily chart remains above the 100 and 200-period lines, maintaining a broader bullish bias. MACD crossed above the signal line mid-morning and showed positive divergence with the price in the last 2 hours. RSI reached a high of 70, confirming overbought conditions and a potential pullback toward the 61.8% Fibonacci level at 1.126. However, the momentum suggests the pair could continue upward if the 1.139 resistance is convincingly cleared.

Fibonacci retracements drawn from the recent swing low of 1.096 to the high of 1.15 show key levels at 1.126 (61.8%) and 1.119 (38.2%). These levels appear to be strong psychological zones, as the price has reacted multiple times within this range. The next 24 hours may see consolidation if these levels hold, or a breakout above 1.139 could signal a continuation into uncharted territory. Investors should watch for a potential retracement to 1.126 before taking a directional position.

Backtest Hypothesis
A potential backtesting strategy could involve entering a long position on the close above the 1.13 resistance, with a stop-loss just below the 1.125–1.126 level and a target at 1.145–1.15. Given the current momentum and the strength of the 15-minute bullish patterns, this setup could have a high win rate if volume confirms the breakout. A MACD crossover above the signal line and RSI above 60 would also add to the confirmation. This approach, however, should be tested over multiple cycles to assess its robustness across market conditions.