DYDXUSDT Breaks 0.1049, But Overbought RSI Warns of Pullback

Summary
• Price surged past 0.1030, reaching 0.1065 amid bullish momentum.
• 24-hour volume hit 3.05M, with turnover at $314,822, highlighting strong participation.
• Key resistance appears at 0.1049–0.1061, with a potential pullback to 0.1025–0.1030 likely.
• RSI shows overbought conditions above 70, suggesting possible profit-taking.
• Bollinger Bands widened as price pushed higher, indicating increased volatility.

At 12:00 ET–1 on Feb 12, dYdX/Tether (DYDXUSDT) opened at 0.1004, hitting a high of 0.1065 and a low of 0.0991 before closing at 0.1059 at 12:00 ET. The pair recorded a 24-hour volume of 3.05M and a notional turnover of $314,822, reflecting strong liquidity and participation.

Structure & Moving Averages

On the 5-minute chart, price has surged past the 20 and 50-period moving averages, with a clear upward bias. The 50-period line is near 0.1030, acting as a psychological support-turned-resistance. On the daily chart, price is above the 50-period average and approaching the 100-period line, which may provide a near-term ceiling if the upleg slows.

Momentum and Overbought Conditions

. The RSI on the 5-minute chart has entered overbought territory, hovering around 70–75. This suggests potential for profit-taking or consolidation in the near term. The MACD line has crossed above the signal line, with a bullish divergence forming, reinforcing the short-term upward momentum. However, a prolonged overbought RSI could signal caution for near-term traders.

Volatility and Bollinger Bands

Bollinger Bands have widened significantly as the pair moves higher, indicating increased volatility. Price has spent much of the session above the upper band, especially after breaking 0.1049. This suggests a continuation of the trend but also raises the possibility of a retest of key levels in the 0.1025–0.1030 range.

Volume and Turnover Dynamics

The volume profile shows a clear shift after the 0.1030 level was breached, with large-volume candles (e.g., at 15:30 and 16:30 ET) confirming the bullish breakout. Turnover spiked during these hours, aligning with price action and reinforcing the strength of the move. Divergences between volume and price were not observed, indicating strong alignment between liquidity and direction.

Fibonacci Retracements

Recent 5-minute swings suggest that 0.1049 (61.8%) and 0.1032 (38.2%) are key levels to watch for pullbacks or consolidation. On the daily chart, a retracement of the last major leg down could see support forming at 0.1015–0.1020, which has already acted as a floor multiple times.

Looking ahead, the pair may test the 0.1061–0.1065 resistance range, but overbought RSI and high volatility suggest a possible pause or pullback in the next 24 hours. Investors should monitor key Fibonacci levels and volume behavior for signs of exhaustion or continued strength. As always, position sizing and stop-loss placement remain essential in managing risk during high-momentum periods.