Market Overview for Polkadot/Tether (DOTUSDT)

Summary
• Price tested key support near $2.015 before rebounding, forming bullish engulfing patterns in the late session.
• Volume surged during the 21:15–22:00 ET rally but failed to confirm a strong breakout.
• RSI hovered near neutral midline, indicating weak momentum; Bollinger Bands showed moderate volatility.
• A 61.8% Fibonacci retracement level aligned with $2.055–2.065, acting as a key cluster for consolidation.
• Divergence between price and turnover emerged during the last 4 hours, signaling cautious market sentiment.

At 12:00 ET on 2025-12-12, Polkadot/Tether (DOTUSDT) opened at $2.02, reached a high of $2.095, a low of $1.953, and closed at $1.958. Total volume was 15.23 million, with a notional turnover of ~$32.88 million over 24 hours.

Structure & Formations

Price action formed a series of bullish engulfing patterns in the late afternoon (ET) after a bearish breakdown attempt. The 20 and 50-period moving averages (5-min chart) converged near $2.035, offering resistance, while the 200-period daily MA remained above $2.10, suggesting a longer-term bearish bias.

Momentum and Volatility

MACD crossed into negative territory in the early morning hours, confirming bearish momentum. RSI remained between 40 and 50 for much of the day, indicating sideways action.

. Bollinger Bands showed moderate volatility, with price testing the lower band during the sell-off and rebounding into the middle band in the final hours.

Volume and Turnover

Volume spiked significantly during the 21:15–21:45 ET rally, but turnover failed to confirm a strong reversal, showing a divergence. This suggests traders remained cautious, with increased volume not translating into conviction.

Fibonacci Retracements

The 61.8% retracement level of the recent 5-minute swing (from $1.953 to $2.095) fell near $2.055–2.065, which coincided with consolidation seen in the 2–4 AM ET timeframe. Price failed to break above this cluster, reinforcing its significance.

In the next 24 hours, Polkadot/Tether may test the $1.95–$1.97 support range or rally toward the $2.05–2.06 consolidation level. Traders should remain cautious of potential divergence in volume and momentum indicators.