Market Overview: Polkadot/Tether (DOTUSDT) 24-Hour Analysis

Summary
• Price formed a bullish engulfing pattern near $1.740, suggesting short-term support.
• RSI hit oversold levels below 30 early in the session, hinting at potential rebound.
• Bollinger Bands widened after 19:00 ET, reflecting increased volatility during the downward move.
• Notional turnover spiked during the 18:00–20:00 ET decline, confirming bearish momentum.
• 50-period MA on the 5-minute chart crossed below price, signaling short-term bearish bias.

Price and Volume Summary

Polkadot/Tether (DOTUSDT) opened at $1.853 on 2025-12-18 12:00 ET, touched a high of $1.875, and a low of $1.722 before closing at $1.851 at 12:00 ET on 2025-12-19. Total volume across the 24-hour window was 3,192,732.73 DOT, with a notional turnover of approximately $5,912,526.

Structure and Momentum

Price action showed a clear bearish breakdown from a key resistance area around $1.800, confirmed by the 50-period MA crossing below price on the 5-minute chart. A bullish engulfing pattern formed near $1.740, indicating a potential short-term bounce, though this remains unconfirmed. RSI reached oversold territory in the early part of the session but failed to produce a strong rebound, suggesting lingering bearish pressure.

Volatility and Volume

Bollinger Bands expanded significantly after 19:00 ET, aligning with the sharp decline in price. This expansion suggests growing uncertainty in the market. Volume surged during the 18:00–20:00 ET range, confirming the downward move. However, turnover started to moderate after 03:00 ET, indicating a possible exhaustion in the bearish momentum.

Pattern and Fibonacci Observations

Price found support at the 61.8% Fibonacci retracement level of the $1.722–$1.803 swing, currently at $1.764. The 38.2% retracement at $1.791 appears to have been rejected twice, suggesting it could act as resistance. No clear reversal patterns have emerged above the 50-period MA on the 5-minute chart.

Polkadot may attempt a short-term rebound above $1.800 in the coming 24 hours, but further downside remains a risk if momentum fails to confirm. Investors should monitor the 50-period MA and volume patterns for signs of trend continuation or reversal.