Market Overview for DAR Open Network/Tether USDt (DUSDT)

• Price surged from $0.0308 to $0.0321 on strong late-day buying, driven by rising volume and tight consolidation phases.
• Momentum accelerated in the RSI, reaching overbought territory as the 15-min chart broke key resistance at $0.0310.
• Volatility expanded post $0.0313, with Bollinger Bands widening and price testing upper bounds.
• A bullish engulfing pattern formed at the $0.0319–$0.0321 level, suggesting a near-term reversal.
• Turnover spiked over $10M in the final 6 hours, confirming the breakout and potential continuation.

DAR Open Network/Tether USDt (DUSDT) opened at $0.0308 (12:00 ET - 1), hit a high of $0.0321, and closed at $0.03178 (12:00 ET). The 24-hour total volume was 3.3 million units, with a notional turnover of $103.6 million.

Price action was characterized by a consolidation phase before 6:00 PM ET, followed by a breakout above key resistance levels. A bullish reversal pattern at the $0.0319–$0.0321 level, combined with increasing volume and momentum, suggests growing conviction among buyers.

Structure & Formations

DUSDT encountered key support at $0.0306 and resistance at $0.0310 in the midday session, before a strong rally pushed the price past $0.0313 and up to $0.0321. A bullish engulfing pattern emerged during the late morning to early afternoon phase, indicating a potential trend reversal. A doji appeared near $0.0310, suggesting indecision, but it was quickly followed by a breakout.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were crossed by price above $0.0313, confirming the uptrend. For the daily chart, the 50-period MA was at $0.0312, the 100-period MA at $0.0311, and the 200-period MA at $0.0310—price is now trading above all three, indicating bullish bias.

MACD & RSI

The MACD crossed above zero in the afternoon and remained in positive territory, with a narrowing histogram suggesting exhaustion may be near. The RSI surged to 68–70 in the final hours, entering overbought territory, indicating a potential pullback or consolidation.

Bollinger Bands

Volatility expanded after 5:00 PM ET as the price moved above the upper Bollinger Band for the first time since the morning consolidation phase. Price has remained near the upper band, suggesting a continuation of the bullish trend.

Volume & Turnover

Volume increased sharply after 5:00 PM ET, peaking at 436,507 units in the 8:15 AM–8:30 AM ET window. Notional turnover also rose during the breakout phase, confirming the strength of the rally. Price and volume were in alignment, indicating strong conviction in the upward move.

Fibonacci Retracements

On the 15-minute chart, the price tested the 61.8% Fibonacci retracement level at $0.03175 before breaking out to $0.0321. Daily-level Fibonacci levels were less relevant, but the 38.2% retracement at $0.0314 acted as support during the late consolidation phase.

Backtest Hypothesis

A potential backtesting strategy involves entering long positions at the close of a bullish engulfing pattern when it forms above a key resistance level and is confirmed by a breakout. Exit the position when the RSI crosses into overbought territory or when price pulls back to the 50-period moving average. This setup was observed around $0.0319–$0.0321 with a strong confirmation from both volume and momentum indicators. A stop-loss could be placed just below the recent support at $0.0314.

Looking ahead, DUSDT may test the $0.0321 resistance again and could see a pullback to the $0.0316–$0.0317 level for a retracement. Traders should remain cautious, as overbought RSI and divergences in volume could signal a potential reversal. A break below $0.0314 would increase bearish risks, but for now, the technical bias remains bullish.