DeXe/Tether Market Overview – 24-Hour Technical Analysis for 2025-10-10

• DeXe/Tether traded lower by ~0.43% on 24-hour volume of $138,586, with intraday volatility narrowing near the close.
• A bearish engulfing pattern formed during the 19:30–20:00 ET session, signaling short-term pressure and potential reversal.
• Volume and turnover remained uncorrelated during the 05:30–06:00 ET range, hinting at weak conviction in price movements.
• RSI approached oversold territory late morning, but failed to trigger a meaningful bounce, indicating bearish momentum.
• Price spent 8.5 hours near a 50-period 15-min MA, but failed to consolidate above it, reinforcing bearish bias.

Price Action Summary

DeXe/Tether (DEXEUSDT) opened at $11.185 on 2025-10-09 at 12:00 ET and traded between $10.884 and $11.321 before closing at $11.065 on 2025-10-10 at 12:00 ET. Total volume for the 24-hour period was 82,896 units, with a notional turnover of $138,586. The price trended lower throughout the session, failing to hold above the 50-period 15-minute moving average and consolidating below key resistance levels.

Structure & Formations

Key support levels were identified around $11.00–$11.04 and $10.88–10.92, with a notable bearish engulfing pattern forming during the 19:30–20:00 ET session after a failed rally from the $11.04–$11.06 range. A doji formed around 02:30–02:45 ET near $11.17, suggesting indecision. Resistance levels appear to reside between $11.18–$11.25 and $11.29–$11.32.

Moving Averages

On the 15-minute chart, the 20-period MA hovered around $11.19–$11.22 and the 50-period MA at $11.20–$11.24, with price failing to close above either line after an early attempt. The daily chart showed a bearish crossover, with the 50-period MA below both the 100- and 200-period lines. This bearish alignment suggests a continuation of the downtrend is more likely in the near term.

MACD & RSI

The MACD line crossed below the signal line during the 03:15–03:30 ET period, confirming bearish momentum. RSI dipped into oversold territory around 11:15–11:30 ET but failed to generate a meaningful bounce, indicating weak buying interest. A double-bottom RSI pattern developed during the 06:00–07:15 ET session, but price failed to break above the 15-minute 20 MA.

Bollinger Bands

Volatility expanded in the 19:45–20:30 ET session as the bands widened to a range of $11.12–$11.23 before contracting again. Price closed near the lower Bollinger band at $11.06–$11.07, a sign of oversold conditions that did not translate into a recovery, reinforcing bearish pressure.

Volume & Turnover

Volume spiked between 05:00–05:30 ET and 15:45–16:00 ET but was not accompanied by significant price changes, indicating divergence. Turnover remained relatively low throughout the session, with a peak of $13,858 during the 15:45–16:00 ET range. The lack of correlation between volume and price action suggests weak conviction in the current trend.

Fibonacci Retracements

On the 15-minute chart, price tested the 61.8% retracement level at $11.18 but failed to hold above it. The 38.2% retracement level at $11.10 acted as a temporary floor but was later pierced. On the daily chart, the 50% retracement of the recent high-to-low swing fell near $11.15, a level price has tested multiple times but failed to hold.

Backtest Hypothesis

A backtesting strategy could focus on identifying bearish engulfing patterns forming near key resistance levels with accompanying volume surges and RSI divergence. The 19:30–20:00 ET bearish engulfing pattern aligns with such a setup, particularly given the volume spike and failure to hold above the 50-period MA. A short entry on the close of the engulfing pattern with a stop-loss above the high of the pattern and a target at the next support level at $11.04–11.05 would align with the observed bearish bias and could serve as a testable hypothesis for further optimization.