Market Overview for dYdX/Tether (DYDXUSDT) on 2025-10-11

• dYdX/Tether (DYDXUSDT) dropped from 0.5311 to 0.3689 over 24 hours, marking a significant bearish reversal.
• A massive 15-minute candle on 2025-10-10 at 21:00 ET printed a high of 0.5153 and closed at 0.4666 amid high turnover.
• A subsequent sharp selloff led to a 15-minute close of 0.1895, the lowest point of the 24-hour period.
• Recovery efforts began post 03:00 ET as price climbed back above 0.35 with a final close of 0.3689.
• High volume confirmed the selloff, but volume during the recovery was relatively lower, suggesting caution.

dYdX/Tether (DYDXUSDT) opened at 0.5311 on 2025-10-10 at 12:00 ET, reached a high of 0.5358, a low of 0.1770, and closed at 0.3689 at 12:00 ET on 2025-10-11. Total volume for the 24-hour period was 101,685,603.12, and total turnover amounted to approximately 30,547,479.40 USDT.

Structure & Formations

The 15-minute chart revealed a strong bearish reversal pattern starting around 19:30 ET on 2025-10-10 with a massive bearish candle and a low of 0.5050. This was followed by a deep selloff into the early hours of the morning, with price falling below 0.2000 briefly before a modest recovery began. Notable support levels formed at 0.3689 and 0.3500, while key resistance appeared at 0.4368 and 0.5260. A doji-like candle at 06:15 ET may indicate a short-term consolidation period.

Moving Averages

On the 15-minute chart, price traded below both the 20-period and 50-period moving averages for most of the session, indicating a bearish bias. On the daily chart, price closed below the 50-period, 100-period, and 200-period moving averages, reinforcing the bearish trend.

MACD & RSI

The MACD line remained below the signal line, with negative divergence suggesting ongoing bearish momentum. RSI dropped into oversold territory during the selloff but rebounded slightly in the final hours, indicating some short-term buying interest. However, the RSI remains in a bearish zone, below 50 for most of the session.

Bollinger Bands

Volatility expanded significantly during the selloff, with price breaking below the lower Bollinger Band. This indicates a strong bearish move with heightened risk. By the end of the session, price had moved into a mid-band position, signaling a possible pause in the downtrend.

Volume & Turnover

Volume spiked dramatically during the selloff, particularly during the 21:30 ET to 21:45 ET and 22:15 ET to 22:30 ET periods, confirming the bearish sentiment. However, during the recovery phase post 03:00 ET, volume remained relatively low, which may indicate a lack of conviction in the upward move.

Fibonacci Retracements

Using the key swing from 0.5311 to 0.1770, the 61.8% Fibonacci retracement level was around 0.3695—very close to the final 24-hour close of 0.3689. This suggests the price is finding support near this critical retracement level. If the price holds above 0.3689, a test of the 38.2% level at 0.4480 could follow, though this would require a substantial reversal.

Backtest Hypothesis

A potential backtest strategy could involve using the 61.8% Fibonacci retracement level as a dynamic support level and entering a long position upon a confirmed close above it. Given the current price at the 61.8% level, a breakout could signal a potential reversal. In this case, the 20-period and 50-period moving averages may also provide confirmation of the reversal trend. This strategy could be further enhanced by incorporating volume as a filter—looking for a significant increase in volume during the breakout to confirm the strength of the reversal.