Market Overview for DODO/Tether (DODOUSDT) on 2025-10-13

• Price surged from $0.0342 to $0.0374, reaching 24-h high before consolidating.
• Momentum accelerated midday, followed by a pullback reflecting mixed buyer pressure.
• Volatility spiked during 06:00–11:00 ET, with $0.0362–$0.0365 consolidating as key resistance.
• Notional turnover surged past $3.2M during the bullish wave, but diverged slightly in late session.
• A Bullish Engulfing pattern formed around $0.0357, followed by a Bearish Harami at $0.0367, signaling possible reversal risks.

DODO/Tether (DODOUSDT) opened at $0.0342 on 2025-10-12 12:00 ET and closed at $0.0365 on 2025-10-13 12:00 ET. The 24-hour price range spanned $0.0342 (open) to $0.0374 (high), with a low of $0.0342. Total trading volume was ~46.5M units, while notional turnover reached $1.68M, with a noticeable concentration of volume during the late ET session.

Structure & Formations

The price action of DODO/Tether displayed clear bullish and bearish tendencies. A strong upward move began around 06:00 ET, where the price surged from $0.0357 to $0.0374, forming a Bullish Engulfing pattern. However, the momentum waned as the session progressed, with a Bearish Harami forming at $0.0367 and $0.0365, signaling potential exhaustion. Key support levels were observed at $0.0354–$0.0356, with resistance around $0.0362–$0.0365. The 15-minute candles revealed a series of Higher Highs and Lower Lows, suggesting a consolidative phase with potential for a breakout.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed above $0.0355, reinforcing the bullish bias early in the session. The 50-period MA remained above the 20-period MA for much of the session, indicating positive momentum. However, by late afternoon ET, the 50-period MA began to flatten, hinting at potential bearish pressure. On the daily chart, the 50-period and 100-period moving averages were aligned with the price, suggesting a continuation of the recent uptrend.

MACD & RSI

The MACD histogram turned positive mid-morning ET, with a strong bullish crossover at 06:15 ET. This was followed by a gradual flattening and a bearish divergence by 11:45 ET, indicating potential overbought conditions. The RSI crossed above 60 in midday, reaching a high of 66.2, suggesting moderate overbought levels. A pullback to the 45–50 RSI range later in the session hinted at a potential consolidation phase. The RSI and MACD appear to be diverging slightly at the end of the session, a cautionary sign for near-term continuation.

Bollinger Bands

Volatility expanded during the early to mid-session as the price moved from $0.0357 to $0.0374, pushing outside the upper Bollinger Band. This indicated strong bullish momentum but also a high-risk scenario for a reversal. By late afternoon, the price retracted into the Bollinger Band range, with the close of $0.0365 sitting near the upper band, suggesting that volatility is now contracting. This may imply a period of consolidation ahead.

Volume & Turnover

Volume surged during the bullish wave (06:00–11:00 ET), with the highest 15-minute volume of 3.258M units at 11:00 ET, as the price hit $0.0374. This was followed by a notable pullback with decreasing volume, indicating weaker follow-through from buyers. Notional turnover also peaked during this period at $1.17M, but dropped off significantly in the final hours. A divergence between price and volume was noted during the late session pullback, suggesting potential distribution at higher levels.

Fibonacci Retracements

The 15-minute Fibonacci retracement levels were drawn from $0.0342 (low) to $0.0374 (high). Key levels include $0.0356 (38.2%) and $0.0362 (61.8%), both of which saw price consolidation and reactions. The 0.618 retracement at $0.0362 acted as a key support-turned-resistance in the later hours. On the daily chart, retracement levels are currently favoring the 50–61.8% range, suggesting that a break above $0.0365 could open the door to the next level at $0.0369–$0.0371.

Backtest Hypothesis

The observed Bullish Engulfing and Bearish Harami patterns, alongside strong RSI overbought readings and diverging MACD, form a solid foundation for a candlestick-based backtesting strategy. A potential backtest could focus on identifying Bullish Engulfing entries with a stop-loss placed below the 0.618 Fibonacci level and a target at 0.786. A “next bearish signal” such as a Bearish Engulfing or a Bearish Harami could be used to close long positions. Using daily close prices for entry and exit would align with general crypto trading norms. Including a 5% stop-loss and a 10% take-profit would provide risk control. Further testing could be conducted on DODOUSDT using this setup from 2022-01-01 to 2025-10-13.