Market Overview for Dego Finance/Tether (DEGOUSDT)

• Price moved from 1.217 to 1.236 over 24 hours, forming bullish patterns in late afternoon ET.
• RSI rose into overbought territory, while volume surged in the final 6 hours.
• Volatility expanded as price broke out of a Bollinger Band range.
• Key resistance appears around 1.234, with support at 1.221.
• Turnover increased by 17% in the last 12 hours, aligning with price action.

Dego Finance/Tether (DEGOUSDT) opened at 1.217 (12:00 ET – 1), reached a high of 1.236, and closed at 1.231 as of 12:00 ET. The 24-hour volume totaled 154,688.33, and notional turnover was $192,089.92. The pair showed a consistent upward trend, particularly in the last 12 hours, forming multiple bullish patterns.

Structure & Formations

The 15-minute chart shows a strong bullish bias from 18:00 to 04:30 ET, with several engulfing patterns suggesting aggressive buying pressure. A notable bearish doji formed at 1.236 (16:00 ET), hinting at a potential pause in the rally. Key resistance levels appear at 1.234 and 1.236, with 1.221 and 1.217 offering strong support. The 24-hour candle ended with a long upper wick at the high, suggesting buyers failed to hold the top, but the closing price remains elevated.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both bullish, crossing below the price. For daily timeframes, the 50-period MA supports a continuation of the bullish trend, while the 100- and 200-period MAs are slightly lagging but not bearish. Price remains above all MAs, indicating a strong upward bias.

MACD & RSI

The MACD line turned positive at 18:00 ET and remained in bullish territory, confirming the recent momentum. RSI climbed into overbought territory above 70, peaking at 1.236, suggesting potential short-term profit-taking. However, the divergence between price and RSI remains weak, indicating strong conviction from buyers.

Bollinger Bands

Volatility expanded significantly in the late afternoon, with price breaking above the upper band at 1.236 before consolidating. The width of the bands increased from ~0.003 to ~0.015, signaling a period of heightened uncertainty. Price closed near the upper band at 1.231, suggesting continued bullish pressure.

Volume & Turnover

Volume spiked at key moments—1.23 (23:45 ET), 1.231 (03:15 ET), and 1.234 (09:45 ET)—showing strong participation at these levels. Total turnover increased by 17% in the last 12 hours, particularly between 04:30 and 12:00 ET, aligning with the final push to 1.236. No major price-turnover divergence was observed, supporting the continuation of the bullish trend.

Fibonacci Retracements

Applying Fibonacci levels to the 15-minute move from 1.217 to 1.236, the 61.8% retracement level is at 1.229, which coincided with a brief consolidation. The 38.2% level at 1.223 acted as minor support. On the daily chart, the 50% retracement level sits at 1.225, which aligns with a prior consolidation point and appears to offer secondary support.

Backtest Hypothesis

A potential backtesting strategy could target long entries on bullish engulfing patterns forming above key Fibonacci and MA levels, combined with RSI crossing above 50 and MACD turning positive. Stops could be placed below the nearest support level, with a target at the next Fibonacci retracement or resistance. Given the recent pattern and alignment of indicators, this hypothesis could be tested over the next 48 hours with a risk caveat due to overbought RSI levels.