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Summary
• Price swung between 38.40 and 40.38 with key resistance around 39.57 and support near 38.80.
• Volume surged to 223.36k in late afternoon ET, confirming bearish momentum.
• RSI and MACD signaled bearish divergence early in the day before a consolidation phase.
• Bollinger Bands showed moderate expansion during the price drop below 39.00.
• Fibonacci retracement at 38.90-39.00 marked a potential short-term support level.
Dash/Tether (DASHUSDT) opened at 39.50, peaked at 40.38, and closed at 38.91 by 12:00 ET, with a low of 38.40. Total volume reached 68,229.29 and turnover hit 2,675,004.45. The asset faced multiple short-term rejections at 39.57, marking a key resistance level, and found support near 38.80.
Structure & Formations
Price action showed a bearish engulfing pattern after reaching 40.17, followed by a long lower shadow in the 02:30-03:00 ET session, suggesting indecision. A bearish divergence emerged between price and RSI during the early decline. A possible 61.8% Fibonacci retracement level at 38.90–39.00 became a focal area for potential buyers.
Moving Averages
On the 5-minute chart, the price closed below the 20-period and 50-period moving averages, confirming a bearish bias. For the daily chart, the 50- and 100-period MAs suggest a mixed setup, with the 200-period MA providing a longer-term reference at 39.45–39.50.

Momentum Indicators
MACD turned negative during the 18:00–19:00 ET session and remained bearish through the close. RSI dipped into oversold territory near 30 but failed to trigger a sustained rebound. This suggests a potential consolidation phase or a test of deeper support levels in the coming 24 hours.
Volatility & Bollinger Bands
Bollinger Bands expanded during the 22:45–23:45 ET price decline, as volatility increased. By midday, volatility had contracted again, with price staying within the bands, indicating a period of consolidation after the earlier sell-off.
Volume & Turnover
Volume spiked at 223.36k during the 15:00–16:00 ET session, coinciding with a sharp drop from 39.05 to 38.63. Turnover also diverged with price during the 14:30–15:30 ET period, raising questions about the sustainability of further declines.
DASHUSDT appears to be entering a consolidation phase after a sharp 4-hour sell-off from 40.38 to 38.40. A break below 38.80 could extend the downward trend. Investors should monitor the 39.00–39.10 level as potential support for a near-term rebound.
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