Market Overview for Dash/Tether (DASHUSDT) on 2025-09-23

• DASHUSDT opened at $21.07 and closed at $21.13, forming a bullish reversal after an early sell-off.
• A key support at $20.60 and resistance at $21.25 were tested and held.
• Volatility expanded in early morning ET, with turnover surging above $10 million.
• RSI entered overbought territory near 70, suggesting potential short-term pullback.
• Bollinger Bands widened mid-day, indicating a period of heightened market activity.

DASHUSDT opened at $21.07 (12:00 ET – 1) and traded to a low of $20.60 before closing at $21.13 at 12:00 ET. The pair reached a high of $21.26 during the session, with total volume of 78,412.38 DASH and a notional turnover of approximately $1,655,466 (based on reported 15-minute OHLCV data). The price action reflects a sharp bearish impulse early in the session followed by a strong recovery, particularly after 02:00 ET.

Structure and key formations suggest a strong support at $20.60 and resistance at $21.25, both of which saw price consolidation and retests. A notable bullish engulfing pattern emerged between 02:00 and 04:00 ET as prices rebounded from the session low. A doji formed near $21.25 in late afternoon ET, signaling indecision and a potential pause in the upward trend.

The 20-period and 50-period moving averages (15-min) indicate a bullish crossover during the morning hours, with the 50-period MA crossing above the 20-period MA. The 50-period daily MA remains below the 200-period MA, suggesting the longer-term trend is not yet reversed. MACD turned positive after 04:00 ET, reinforcing the bullish momentum. RSI reached overbought levels near 70 during the day, indicating a potential near-term correction or consolidation period.

Bollinger Bands showed significant expansion between 06:00 and 10:00 ET, with price trading near the upper band during that period. Volatility subsided after 12:00 ET as the price consolidated around the mid-band, signaling a period of equilibrium. Notional turnover spiked in the early morning hours, with several candles exceeding $50k in turnover, suggesting increased activity amid the bearish move.

Fibonacci retracements applied to the morning sell-off (from $21.09 to $20.60) identified key levels at 38.2% ($20.85) and 61.8% ($20.96). Price held above the 61.8% level, suggesting strong short-term demand. On the daily chart, a 61.8% retracement of the previous day’s range sits at $21.14, very close to the 24-hour close, implying potential consolidation around this level.