Market Overview: DeXe/Tether (DEXEUSDT) 24-Hour Summary

• DEXEUSDT surged to 13.44 before a sharp decline, testing 11.841 intraday, indicating heightened volatility.
• Strong bearish momentum emerged post-17:45 ET with a 15-minute close at 12.029, followed by a partial recovery.
• A key 15-minute bullish engulfing pattern emerged around 02:00–02:30 ET, with price rising from 12.349 to 12.484.
• Volume spiked at 112,372.95 on the candle closing at 12.528, signaling strong participation and potential trend change.
• RSI reached oversold levels during the dip, hinting at a potential short-term reversal, though bearish pressure remains strong.

DeXe/Tether (DEXEUSDT) opened at 12.329 on 2025-10-02 at 12:00 ET, surged to a 24-hour high of 13.44, then fell to a low of 11.841 before closing at 12.486 at 12:00 ET on 2025-10-03. Total volume for the 24-hour window was 1,685,118.07, with a turnover of approximately $21,473,319.

The 15-minute chart reveals a volatile day marked by a sharp sell-off from 12.829 to 12.029 in under 90 minutes, punctuated by a large bearish candle on 17:45 ET. This was followed by a partial recovery that tested previous highs again late in the session. Notable support levels formed around 12.349 and 12.410, with the 12.50–12.55 range acting as a key psychological barrier. A bullish engulfing pattern on the early morning candle suggests short-term buying interest, but the RSI remains in overbought to neutral territory, indicating mixed signals in momentum.

Bollinger Bands expanded during the sharp moves, with prices often trading near the outer bands, reflecting heightened volatility. The 20-period moving average was below the 50-period line during the afternoon sell-off, reinforcing bearish bias, but crossed back above during the morning rally. The MACD showed a bearish crossover around 17:45 ET but returned to positive territory after 02:00 ET, aligning with the price rebound.

Fibonacci levels drawn from the major 15-minute swing (12.029 to 12.484) show 12.273 (38.2%) and 12.349 (61.8%) as critical levels that price has tested multiple times. Volume diverged slightly from price during the morning recovery, with buying volume appearing weaker than price action. This suggests caution may be warranted in interpreting further bullish moves.

Backtest Hypothesis
The backtesting strategy involves entering a long position when DEXEUSDT closes above the 20-period EMA on a 15-minute chart and the RSI crosses above 40 from below, with a stop-loss placed at the previous swing low. A short position is initiated if DEXEUSDT closes below the 20-period EMA and RSI drops below 60, with a stop-loss at the previous swing high. Given the mixed momentum signals and recent volatility, this strategy may capture short-term momentum shifts but must be applied cautiously amid heightened market noise.