Market Overview: Dego Finance/Tether (DEGOUSDT) 24-Hour Technical Summary

• Price action shows a choppy range-bound trend around 1.12–1.13.
• A bullish engulfing pattern appeared at 1.120–1.123 but failed to sustain.
• Volume and turnover surged near 1.120 and 1.130, suggesting key psychological levels.
• RSI signaled overbought conditions near 65 but failed to break out.
• Bollinger Bands show a moderate contraction in the morning, with expansion following a late surge.

Dego Finance/Tether (DEGOUSDT) opened at 1.121 on 2025-10-03 at 12:00 ET and closed at 1.125 at 12:00 ET on 2025-10-04. The high was 1.141, and the low was 1.111. Total volume over the period was 143,689.98 and turnover reached approximately $143,689.98 (assuming $1 USDT value).

The 15-minute OHLCV data shows a volatile, yet ultimately range-bound session. The price failed to break above the 1.133 resistance level seen in early evening and late night hours, with bearish momentum evident in the late afternoon. A key support level appears at 1.116, where the asset found a floor on three separate occasions. A bullish engulfing pattern formed between 1.120 and 1.123 in the early morning but failed to confirm a strong upward breakout.

The 20-period and 50-period moving averages on the 15-minute chart remained closely aligned, indicating a lack of clear trend. The RSI oscillated between 65 and 40, suggesting a tug-of-war between bulls and bears. Notably, the 1.123–1.127 range acted as a magnet for trading activity in the latter half of the session, with several failed attempts to break out.

Bollinger Bands saw a moderate contraction in the early morning, signaling a potential period of consolidation. As the session progressed, the bands expanded, reflecting increased volatility and order flow, particularly near 1.120 and 1.130. This suggests that traders are testing key levels with mixed conviction.

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The 50-period MA on the 15-minute chart remained above the 20-period MA, indicating a slight bearish bias in the near term. Fibonacci retracement levels from the recent swing high of 1.141 to the low of 1.111 show 38.2% at 1.126 and 61.8% at 1.121—both closely matching observed price reactions. The volume profile shows increased buying interest in the 1.120–1.125 range, which may signal a potential base formation if volume continues to confirm on subsequent tests.

The MACD showed a narrowing histogram in the early morning, suggesting waning momentum, followed by a slight expansion as the market tested key levels. The RSI hit an overbought threshold of 65 in the late afternoon but failed to break above 70, indicating a possible topping pattern.

Looking ahead, traders may watch the 1.126 level as a key psychological and Fibonacci resistance, with a breakdown below 1.121 signaling a deeper pullback. A strong break above 1.133 could rekindle bullish momentum, but with current momentum indicators and volume patterns, a range-bound consolidation appears more likely. Investors should remain cautious for any divergence between price and volume over the next 24 hours.

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Backtest Hypothesis

A potential backtest strategy involves entering a long position when DEGOUSDT closes above the 1.126 Fibonacci retracement level with confirmed volume and MACD crossover above the signal line, targeting a 1.133 level as a profit target. Conversely, a short position could be triggered if the price breaks below 1.121 with bearish divergence in RSI and a MACD crossover below the signal line, with a stop-loss placed at 1.127. This hypothesis aligns with observed technical patterns and Fibonacci levels, offering a quantifiable and systematic approach to managing the current range-bound scenario.

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