Market Overview for DODO/Tether (DODOUSDT)

Summary
• DODOUSDT opened at $0.029 and closed at $0.03, with a 24-hour high of $0.0336 and low of $0.0286.
• Price action showed a strong bullish bias in the early session but consolidated later with reduced volatility.
• Volume peaked around $0.0335 and $0.0305, showing mixed liquidity and order flow.
• RSI and MACD showed overbought conditions briefly but no strong divergence detected.

DODO/Tether (DODOUSDT) opened at $0.029 on 2025-11-07 12:00 ET and closed at $0.03 by the same time on 2025-11-08. The pair hit a high of $0.0336 and a low of $0.0286, with a total 24-hour volume of approximately 56,043,944.3 and notional turnover of $1,586.33. The price action displayed key support at $0.0296–$0.0304 and resistance at $0.0308–$0.0315.

Structure & Formations

The 15-minute chart displayed a strong bullish reversal pattern, particularly in the 18:45–19:00 ET timeframe, where a hammer-like candle formed at $0.0331 after hitting $0.0313, suggesting short-term buying interest. Later in the session, a bearish engulfing pattern at $0.0304–$0.0308 hinted at consolidation or a potential pullback. Notable support levels emerged at $0.0296–$0.0304, where price bounced multiple times over the 24-hour period. A doji candle formed at $0.0302 during the 01:45–02:00 ET window, indicating indecision in the market.

Moving Averages

Using the 15-minute timeframe, the 20-period SMA showed a bullish crossover above the 50-period SMA early in the session, suggesting a short-term bullish bias. On the daily chart, the 50-period SMA sat slightly above the 100-period and 200-period SMAs, indicating a mixed trend—bullish in the short term but with no strong upward push in the longer term. Price hovered slightly above the 20-period SMA for most of the session.

MACD & RSI

The MACD crossed above zero early in the session at $0.0315 and remained bullish until the $0.0308–$0.0305 consolidation period. RSI peaked at 74, indicating overbought conditions, before dipping into neutral territory. No bearish divergence was observed between price and RSI. The MACD histogram showed a contraction after the $0.0331 peak, suggesting weakening momentum. A bullish bottom divergence was observed briefly at $0.0299, with RSI showing higher lows while price dipped, but it was not sustained.

Bollinger Bands

Bollinger Bands showed moderate volatility throughout the 24-hour period. Price reached the upper band at $0.0336 during the 18:45–19:00 ET window, suggesting overbought conditions. Later, it retracted to the middle band during the consolidation phase. The lower band remained around $0.0296–$0.0298, where the price found repeated support. No significant contraction was noted in the bands, indicating ongoing volatility.

Volume & Turnover

Volume spiked sharply during the 18:45–19:00 ET window when price reached $0.0331, with a turnover of ~$2,600 on a 15-minute basis, indicating strong short-term demand. Later, volume declined during the consolidation phase. A smaller but consistent volume spike was observed around $0.0305–$0.0308 in the 02:15–02:45 ET window, confirming the price action during that period. Notional turnover showed no divergence from price movements, suggesting volume was aligned with trend direction.

Fibonacci Retracements

Applying Fibonacci to the recent 15-minute swing high at $0.0336 and the swing low at $0.0296, key retracement levels of 38.2% ($0.0319) and 61.8% ($0.0305) were significant. Price found support at $0.0305–$0.0306, with a slight bounce off the 61.8% level. For the broader daily move, Fibonacci levels from a higher swing high at $0.0336 to the low at $0.0296 showed continued relevance, especially in validating the consolidation phase near $0.0305.

Backtest Hypothesis

Given the observed bullish bottom divergence at $0.0299 and the alignment of MACD and RSI with the price action, a potential backtest strategy could be developed using a modified MACD bottom divergence event. For example, a strategy that triggers a buy signal when RSI posts higher lows while price makes lower lows could be tested against historical 15-minute data. This could be further refined by incorporating volume confirmation—only acting on the signal if volume increases on the higher RSI low. A daily filter, such as price staying above the 20-period SMA, could enhance signal reliability.