Market Overview: Dash/Tether (DASHUSDT) – 24-Hour Technical Summary

• DASH/USDT dropped from $69.51 to $64.93, closing 24 hours at $64.93.
• Volume surged to 16470.709 at the 14:15 ET trough, while momentum indicators signaled oversold conditions.
• Bollinger Bands show price testing lower bounds, with high volatility seen in the 05:00–07:00 ET range.
• A bearish engulfing pattern and key support at $67.5 emerged post-liquidation rally.
• Turnover diverged from price during 08:00–10:00 ET, hinting at potential distribution.

Dash/Tether (DASH/USDT) opened at $69.03 on 2025-11-11 12:00 ET and traded between $69.50 (high) and $64.44 (low), closing at $64.93 by 12:00 ET. The 24-hour volume reached 177,507.224 units with a turnover of $12,390,999.06, showing heightened activity during key bearish phases.

Structure on the 15-minute chart reveals multiple bearish patterns, including a bearish engulfing candle around 10:30 ET and a hanging man near $68.24. Key support levels formed at $67.5 and $65.19, while resistance emerged around $68.48 and $69.51. The 20-period and 50-period moving averages on the 15-minute chart were closely aligned, both below the price, reinforcing the downtrend. On the daily chart, the 50/100/200 SMA are all bearishly aligned, indicating a sustained bearish phase for DASH.

Momentum, as indicated by the MACD, crossed below the signal line around 20:45 ET, forming a bearish "death cross" event, while RSI sank below 30 by 05:00 ET, signaling oversold conditions. However, prices continued to fall after this level, suggesting weak buyer participation. Bollinger Bands showed significant widening as volatility surged from $67.5 to $64.44, and prices remained near the lower band, hinting at potential rebound or consolidation.

Volume spiked multiple times during the session, particularly around 10:30 ET and 14:15 ET, aligning with sharp price declines. Turnover diverged during the 08:00–10:00 ET period, raising concerns about distribution. Fibonacci retracements applied to the last major swing (from $69.51 to $64.44) show potential near-term support at the 61.8% level (~$66.17) and 38.2% level (~$67.96), both areas that have already shown price rejection.

Backtest Hypothesis
The MACD "Death-Cross" event, observed at 20:45 ET, forms the basis of the backtesting strategy. This indicator historically has been used to signal potential trend reversals or continuation in bearish markets. The plan is to evaluate the performance of a short position initiated at the time of the cross, using a holding window of ±30 trading days. Given the recent oversold RSI and the alignment of multiple bearish indicators, the strategy is well grounded in the observed technical context. However, the execution of the full back-test across the 2022–2025 timeframe is currently stalled due to a time-out limitation. To proceed efficiently, I recommend splitting the back-test into shorter time segments (e.g., 2022–2023 and 2024–2025) and reducing the holding period to ±15 trading days if needed. This approach will reduce computational load and allow for timely results while maintaining statistical reliability.