FDUSD/USDT Dips Sharp, But Buyers Reappear Near $1.00

Summary
• Price fell from 1.0004 to 0.9994 before rebounding near 1.0, forming a potential bullish reversal.
• High volume and low turnover divergence seen during the dip, signaling mixed conviction.
• RSI and MACD show bearish momentum waning, with potential short-term support at 0.9993–0.9995.

The First Digital USD/Tether (FDUSDUSDT) opened at 1.0001 on 2026-02-06 12:00 ET, reached a high of 1.0008, a low of 0.9992, and closed at 0.9995 by 2026-02-07 12:00 ET. Total volume was 20.54 million, with a notional turnover of 20.49 million.

Structure and Price Action

Price experienced a sharp decline from 1.0008 to 0.9992 between 07:30 and 08:00 ET, forming a bearish trend before consolidating. A subsequent rally in the morning hours brought the price back near key psychological level 1.0000, forming a potential bullish reversal pattern. Key support appears to have formed at 0.9993–0.9995, with 1.0001 and 1.0005 acting as near-term resistance. A long lower shadow at 05:45 and 06:15 ET suggests growing buying interest.

Trend and Momentum

MACD shows bearish momentum weakening into the closing hours of the 24-hour window, with a small bearish crossover followed by a potential flattening of the histogram. RSI has pulled back from oversold territory, currently sitting at around 48–49, indicating potential equilibrium. This suggests that while the market has been bearish, signs of exhaustion and re-entry by stabilizing actors are visible.

Volatility and Volume

Volatility expanded during the sharp drop to 0.9992, with the Bollinger Bands widening. However, price remained within the bands without a clear breakout. Volume spiked during the decline but was not matched by a proportional increase in turnover, hinting at possible dumping or thin liquidity during that period. The final hours saw a gradual increase in turnover alongside price recovery, indicating improving conviction in the 1.0000 level.

Pattern and Levels

Fibonacci retracement levels applied to the 0.9992–1.0008 swing show key levels at 0.9996 (38.2%) and 0.9999 (61.8%). Price appears to have bounced from the 38.2% level and may test the 61.8% as a short-term resistance. A bullish engulfing pattern is forming near the 1.0000 level, which may be a sign of near-term reversal if confirmed.

Over the next 24 hours, FDUSDUSDT may test the 1.0001–1.0005 range for further direction, with a break above this level signaling a potential reversal. Investors should watch for a divergence in volume and price during the test of key levels as a potential risk signal.