Market Overview for DeXe/Tether (DEXEUSDT): A Bearish Correction Driven by Strong Selling Pressure

• DeXe/Tether (DEXEUSDT) dropped 8.5% over 24 hours, closing below 9.50 after a sharp sell-off from a 10.36 high.
• RSI and MACD signaled overbought conditions before the reversal, while volume surged during the decline.
• Price found temporary support near 9.40–9.45, but Bollinger Bands and Fibonacci levels suggest further downside risk.
• A bullish reversal candlestick is absent, with bearish engulfing patterns and lower highs dominating the chart.
• Total volume increased 42% in the last 6 hours, but price failed to respond with a recovery, suggesting bearish momentum.

Price Action and Volatility

DeXe/Tether (DEXEUSDT) opened at $9.896 on 2025-09-24 at 12:00 ET and surged to a high of $10.369 on the same day, before collapsing sharply in the following 12 hours. By 12:00 ET on 2025-09-25, the pair had closed at $9.409, down 8.5%. Total volume for the 24-hour period amounted to 239,666.19 units, with a notional turnover of $2,253,055.49. The move reflects significant short-term bearish pressure, particularly after the market tested key resistance levels without confirmation.

Structure and Key Levels

The candlestick structure over the 24-hour period shows a classic bearish exhaustion pattern, particularly in the last 6 hours as price collapsed below 9.50. A bearish engulfing pattern is clearly visible from the 9.50–9.65 range, which followed a brief consolidation phase. The price appears to have found a near-term support zone between 9.40 and 9.45, but with the 61.8% Fibonacci retracement level of the 9.40–10.36 move now acting as a critical level, traders should monitor this zone closely. The 20- and 50-period moving averages on the 15-minute chart have both shifted lower, reinforcing the bearish bias.

Bollinger Bands and Volatility

Bollinger Bands have widened significantly as the price collapsed from the 10.36 high, with the close at 9.409 near the lower band. This suggests increased volatility and a potential continuation of the downward move. The band expansion is a strong sign of market anxiety and distribution activity. If the price breaks below the 9.40–9.45 support level, the next likely target is the 9.30–9.35 range, based on both Fibonacci and historical behavior.

Momentum and Momentum Divergences

The 15-minute RSI dipped into oversold territory near the 30 level during the last 3 hours, but the failure to trigger a rebound suggests that the selling pressure remains intact. The MACD crossed below the signal line with a bearish crossover, indicating continued bearish momentum. The negative divergence between price and RSI in the last 30 minutes may signal a temporary pause in the move, but the absence of a strong bullish reversal pattern keeps the bias to the downside.

Volume and Turnover Behavior

Volume spiked sharply during the 9.50–9.409 decline, peaking near the 9.46–9.43 range. This confirms the bearish breakout and reinforces the idea that large players are accumulating at lower levels. However, the lack of a corresponding increase in buying volume during the 9.40–9.45 consolidation suggests that the demand is not yet strong enough to reverse the trend. The total turnover increased by 42% in the last 6 hours, but the price failed to respond with a recovery, indicating that the market is still in distribution mode.

Backtest Hypothesis

Given the bearish momentum and confirmed breakdown below key support levels, a backtesting strategy could be designed to capture continuation of the downward trend. A potential setup would involve entering a short position when the price closes below the 9.45 support level with a volume expansion and a bearish engulfing pattern. A stop-loss could be placed just above the 9.55–9.60 area, with a target set at 9.30–9.35 based on Fibonacci projections. Traders could also use RSI as a confirmation tool, looking for a cross below 30 to validate the entry. This strategy could be tested on past bearish corrections to evaluate its effectiveness in capturing short-term downtrends.