DOTUSDT Market Overview: Volatile 24-Hour Move with Strong Intraday Correction

• Price opened at $4.175 and closed at $4.162 after a volatile 24-hour session.
• Price reached a high of $4.256 and a low of $4.119, showing strong intraday range.
• Volatility spiked with a large volume of 1,012,295.62 units at the 12:45 ET candle.
• RSI suggests overbought conditions were met briefly, followed by a pullback.
• Bollinger Bands showed expansion during the bullish breakout but a reversion occurred.

DOTUSDT opened at $4.175 at 12:00 ET–1 and closed at $4.162 at 12:00 ET on 2025-09-11. Over the 24-hour period, the pair reached a high of $4.256 and a low of $4.119. Total volume across the 24-hour 15-minute candles was approximately 10,122,956.62 units, with a total notional turnover of approximately $41,852,800. The price action shows a volatile session marked by a sharp bullish breakout followed by a significant correction.

Structure & Formations

Key resistance levels emerged around the $4.25–$4.26 zone, where price briefly tested during the 12:15–12:30 ET window before a sharp reversal. Support levels were reinforced at $4.19–$4.20 and later at $4.16–$4.17, where price found a floor during the afternoon and evening. Notable candlestick formations included a large bullish engulfing pattern during the 22:30–23:15 ET window, followed by a long bearish shadow at the 02:45–03:00 ET candle, suggesting indecision. A doji at the 05:15 ET candle indicated a balance between buyers and sellers during the pullback phase.

Moving Averages

On the 15-minute chart, the 20-period moving average acted as a dynamic support/resistance line, with price bouncing off it multiple times during the day. The 50-period MA remained above the 20-period line in the morning, but crossed below during the late afternoon, signaling a weakening trend. On the daily chart, the 50-period MA was above the 200-period MA, but the current close may be approaching the 50-period MA, hinting at potential bearish consolidation in the short term.

MACD & RSI

The MACD showed a strong positive divergence during the 12:15–12:30 ET window, confirming the short-lived bullish breakout, but quickly turned negative as the reversal gained momentum. RSI reached overbought territory (above 70) around 12:30 ET, followed by a sharp drop to oversold levels (below 30) by 03:30 ET. This suggests a volatile but balanced session where momentum quickly shifted from bullish to bearish.

Bollinger Bands

Bollinger Bands expanded significantly during the 12:15–12:45 ET window as price surged above the upper band. This signaled increased volatility and short-term bullish momentum. However, price closed below the middle band by midday, indicating a loss of momentum. The bands then began to contract in the evening, suggesting a potential consolidation phase. Price closed near the lower band, indicating bearish pressure but not yet confirming a breakdown.

Volume & Turnover

Volume spiked dramatically at the 12:45 ET candle, with over 1,012,295.62 units traded during the sharp selloff. This high-volume move coincided with the price breaking below key support and aligning with the lowest point of the day. Notional turnover followed a similar pattern, with the highest turnover also observed during the 12:45 ET candle. The divergence between bullish price action and bearish volume at the end of the day could hint at increased bearish participation.

Fibonacci Retracements

Applying Fibonacci retracement levels to the major 15-minute swing from $4.119 to $4.256, key levels at 61.8% ($4.207) and 38.2% ($4.186) acted as temporary resistance and support. The 50% level at $4.188 was also a key pivot point. On the daily chart, the 38.2% level from a recent major move may be around $4.235, which was tested but rejected during the afternoon.

Backtest Hypothesis

A potential backtesting strategy could involve entering a short position on a confirmed bearish divergence in RSI and a breakout below the 20-period MA on the 15-minute chart. Stop-loss could be placed just above the 38.2% Fibonacci level, with a target near the 61.8% retracement or the previous day's low. The high-volume selloff at the 12:45 ET candle supports this setup and could be used as a historical example to validate the entry signal.