Summary
• Price formed a bullish engulfing pattern near 0.1238 and tested 0.1246 with mixed follow-through.
• Volatility expanded sharply after 21:15 ET, with volume spiking 3x average levels during the rally.
• RSI showed overbought conditions above 65 as price surged past 0.1257 near 02:45 ET.
• Bollinger Bands widened significantly during the late-night upswing, signaling increasing momentum.
• Fibonacci 61.8% retracement level at 0.1244 appears to have capped the 0.1231–0.1268 rally.
Market Overview
At 12:00 ET on December 29, 2025, Dogecoin/Tether (DOGEUSDT) opened at 0.12419, reached a high of 0.12777, and settled at 0.1249. The 24-hour trading session saw a total volume of 270,993,000
and a notional turnover of ~3.35 million USD, reflecting strong participation during the overnight and early morning hours.
Structure & Candlestick Formations
The price action revealed a key bullish engulfing pattern forming around the 0.1238 level as
reversed higher from a 0.1231 support. This was followed by a sharp move up to 0.1257, capped by the 61.8% Fibonacci retracement level. A large bearish candle with a long upper wick appeared during the early afternoon, suggesting profit-taking.
Momentum and Oscillators
MACD showed increasing bullish divergence as price surged overnight, with the histogram expanding during the 02:45–04:45 ET rally. RSI hit overbought territory above 65, particularly at 0.1257, and began to flatten out after 05:30 ET, signaling potential exhaustion.
Volatility and Bollinger Bands
Bollinger Bands widened significantly after 21:15 ET as volatility picked up, with price moving above the upper band for the first time since the early morning. This expansion coincided with a sharp volume surge, indicating strong conviction behind the move.
Volume and Turnover
Trading volume spiked above 18 million DOGE between 02:45 and 04:45 ET as the price pushed above 0.1268. This was confirmed by a concurrent rise in notional turnover, which reached ~2.3 million USD in a single candle. The volume profile also showed a clear step-up in buying pressure during the 00:30–01:45 ET window.
The next 24 hours may see continued consolidation near the 0.1245–0.1250 range, with key resistance at 0.1257 and support at 0.1231. Traders should remain cautious as overbought conditions may invite a near-term pullback.
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