Market Overview for Dego Finance/Tether (DEGOUSDT) - 24-Hour Analysis as of 2025-09-19

• Price opened at 1.23 and fluctuated between 1.216 and 1.251, closing at 1.218 after a volatile 24-hour session.
• Momentum slowed in the final hours, with RSI showing signs of overbought conditions earlier in the day.
• Volatility expanded notably during midday ET, with heavy volume spikes coinciding with key price reversals.
• Bollinger Bands showed a clear expansion, highlighting increased market uncertainty and potential for consolidation.
• A bearish engulfing pattern formed near the 24-hour high, indicating possible near-term downward pressure.

Dego Finance/Tether (DEGOUSDT) opened at 1.23 on 2025-09-18 at 12:00 ET and reached a high of 1.251 before declining to a low of 1.216. As of 12:00 ET on 2025-09-19, the pair closed at 1.218. Total volume traded over the 24-hour window was 192,454.66, while notional turnover amounted to approximately 234,215.85 USD. The session featured pronounced volatility and multiple key reversal setups.

Structure & Formations

Price action over the past 24 hours showed a distinct bearish reversal, with a bearish engulfing pattern forming near the 1.251 high on 01:15 ET. A key support level emerged around 1.22–1.23, where the price repeatedly found buyers after failed attempts to break higher. A bearish divergence was also visible in the RSI around 06:00 ET, signaling weakening bullish momentum despite a price rebound. A notable doji appeared at 07:00 ET, indicating indecision and potential for a pullback.

Moving Averages, MACD, RSI & Bollinger Bands

On the 15-minute chart, the 20-period and 50-period moving averages formed a bearish crossover during the early morning hours, reinforcing the downtrend. MACD crossed below the signal line around 08:00 ET, suggesting weakening bullish momentum. RSI reached overbought territory multiple times, particularly around 01:30 and 04:00 ET, but failed to trigger a meaningful rally, hinting at bearish exhaustion. Bollinger Bands showed a clear expansion during the peak volatility hours, with price frequently testing the upper and lower bands, indicating high volatility and uncertainty.

Volume & Turnover

Volume was unusually high during key reversal moments, particularly at 01:45 ET and 08:15 ET, with over 7,000 DEGO traded in both instances. Notional turnover also spiked during these times, confirming the strength of the bearish moves. A divergence was observed between volume and price near 07:15 ET, where volume increased but price failed to make a new low, suggesting a potential near-term bottom.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from 1.251 (high) to 1.216 (low), the 38.2% level (~1.236) and 61.8% level (~1.227) were both tested but failed to hold. The 50% retracement level (~1.234) was a key area of consolidation. Looking at daily moves, the 61.8% retracement level appears at 1.222, where the price briefly found support before resuming the decline.

Backtest Hypothesis

A potential backtest strategy could involve entering a short position at a confirmed bearish engulfing pattern, as seen near 1.251, with a stop-loss placed above the pattern’s high and a take-profit at the next Fibonacci level of 1.22–1.222. This aligns with observed RSI divergences and Bollinger Band breakouts, offering a high-probability trade setup for a downtrend continuation.