Market Overview for Dogecoin/Tether (DOGEUSDT) – October 1, 2025 (12:00 ET – 12:00 ET)

• DOGE/USDT surged to a 24-hour high of $0.24623, driven by large volume spikes during New York and London trading hours.
• Price consolidated near $0.244–$0.245 after forming a bullish engulfing pattern on October 1 at $0.2436–$0.24507.
• RSI reached 68, signaling potential overbought conditions, while Bollinger Bands expanded to reflect increased volatility.
• Volume exceeded 80 million DOGE after 143000 ET, aligning with price breakouts above key resistance at $0.2432.
• Fibonacci retracements suggest $0.2435 and $0.2414 as key support levels if the rally stalls.

Opening and 24-Hour Range

Dogecoin/Tether (DOGEUSDT) opened at $0.22698 on 12:00 ET–1 and surged to a 24-hour high of $0.24623 by 144500 ET. The pair closed the 24-hour window at $0.24533, near the high, with the low recorded at $0.22689. Total volume amounted to 140.69 million DOGE, with a notional turnover of $34.7 million, indicating strong participation and conviction in the move higher.

Structure & Formations

The 24-hour candlestick pattern showed a powerful bullish reversal from the morning lows, with price forming a bullish engulfing pattern around 130000–133000 ET. This pattern is a strong signal of short-term momentum reversal. Later in the session, a large-volume bullish breakout above $0.2432 confirmed the bullish sentiment. Key support levels identified include $0.2435, $0.2414, and $0.2392, with resistance at $0.2458, $0.2470, and $0.2480 likely to be tested in the near term.

Moving Averages and Momentum

On the 15-minute chart, the 20-period and 50-period moving averages both trended upward, with price closing above both. This suggests continued short-term bullish momentum. On the daily chart, the 50-period and 100-period moving averages are converging near $0.2420, indicating potential support. The 200-period MA remains bearish but has not yet acted as a resistance, suggesting price may continue upward in the near term.

The MACD line crossed above the signal line early in the session and remained in positive territory, confirming bullish momentum. The RSI hit 68, hinting at overbought conditions but not yet at critical levels. Traders may look for a pullback to RSI = 50–55 before entering long positions.

Volatility and Volume

Bollinger Bands expanded significantly during the price surge, especially around 140000–144500 ET, indicating heightened volatility and strong buying interest. Price moved above the upper band briefly at $0.24623, suggesting a possible short-term peak or continuation of the bullish trend. Volume was most pronounced between 130000–160000 ET, with the largest single 15-minute volume spike occurring at 134500 ET (36.46 million DOGE), aligning with the breakout above $0.2432.

Turnover was consistent with volume surges, with notional turnover exceeding $1.2 million during the 15-minute period of 134500–140000 ET, indicating high liquidity and participation. Divergences were not observed in the 24-hour window, suggesting price and volume are well-aligned.

Fibonacci Retracements

Applying Fibonacci retracements to the major swing low at $0.22689 and the swing high at $0.24623, key levels include:- 38.2% retracement at $0.2369- 50% retracement at $0.2365- 61.8% retracement at $0.2361

If the current bullish trend stalls, these levels could act as potential support. On a shorter timeframe, the recent 15-minute swing from $0.24203 to $0.24623 has 61.8% at $0.2445, which was briefly tested and could become a consolidation zone.

Backtest Hypothesis

Given the strong bullish engulfing pattern and the alignment of volume with price action, a backtesting strategy could be designed to enter long positions on a close above $0.2432, with a stop-loss below $0.2414 and a take-profit at $0.2458 or the 61.8% retracement level. The 15-minute MACD and RSI would be used as filters, with a trade confirmation only when RSI exceeds 55 and MACD remains positive. This strategy would aim to capture the continuation of the bullish breakout while limiting downside risk.