DeXe/Tether Market Overview (2025-09-24)

• DeXe/Tether (DEXEUSDT) declined over 24 hours, closing below key support near 10.00.
• High volatility seen during early ET hours, with a sharp drop to 9.774 before moderate recovery.
• On-balance volume increased during bearish swings, confirming downward momentum.
• RSI dipped into oversold territory, while MACD showed bearish divergence.

Opening Narrative

DeXe/Tether (DEXEUSDT) opened at 10.233 at 12:00 ET-1 and traded as high as 10.537 before hitting an intraday low of 9.734. The 24-hour session closed at 9.821. Total volume traded was 259,053.83, with total turnover reaching approximately $2,537,451.

Structure & Formations

The price action over 24 hours revealed a bearish breakdown below the 10.00 psychological support level, followed by a sharp descent into a 61.8% Fibonacci retracement level of the previous uptrend. A key bearish engulfing pattern formed at 10.156, signaling increased bearish sentiment. A doji at 10.006 confirmed indecision.

Trend and Averaging

On the 15-minute chart, the 20-period moving average crossed below the 50-period line, confirming a short-term bearish trend. On the daily chart, the 50-period MA is below the 200-period MA, suggesting a continuation of the medium-term downtrend.

Momentum & RSI

MACD crossed below the signal line, reflecting bearish momentum, and the RSI dipped below 30 in the late hours of the session, entering oversold territory. However, no immediate reversal was confirmed due to weak buying pressure observed in the final candle of the session.

Volatile Movement and Bollinger Bands

The price spent a significant portion of the session near the lower Bollinger Band, suggesting increased volatility and bearish dominance. A notable contraction was observed at 10.052, followed by a breakout that confirmed the downward leg.

Volume and Turnover

Volume surged during the early bearish moves, with a 26,412.73-volume candle confirming the breakdown at 9.903. Turnover diverged slightly in the final hours as price declined but volume remained muted, suggesting possible exhaustion or accumulation by longs.

Fibonacci Retracements

The 61.8% Fibonacci level of the previous 15-minute swing (10.156 to 10.537) was reached at 9.979. The price continued below this level and settled near the 78.6% retracement at 9.774, indicating strong bearish pressure.

Backtest Hypothesis

A potential backtest strategy could involve entering a short position on a close below the 10.00 psychological level and 20-period MA, with a stop above the most recent 15-minute high of 10.051. A trailing stop at 1.6% of entry price could be used to capture momentum. This aligns with the bearish divergence observed in both MACD and RSI, as well as volume confirmation at key support levels.