Market Overview for Dash/Tether (DASHUSDT) – September 20, 2025

• Dash/Tether (DASHUSDT) traded in a tight range today with bearish bias late morning before a late afternoon rebound.
• Momentum diverged with price in early trading, but RSI and MACD signaled reentry into oversold territory.
• Volume expanded during the 17:15–18:30 ET sell-off, then declined through the late afternoon and into evening.
• A key support level at $23.19 was tested and held, while resistance emerged near $23.40 and $23.60.
• Bollinger Bands showed a moderate contraction in early hours, followed by expansion during the 17:15–19:45 sell-off.

DASHUSDT opened at $23.49 on September 19, 12:00 ET, reached a high of $23.61, fell to a low of $23.06, and closed at $23.22 on September 20, 12:00 ET. Total trading volume over the 24-hour period was 39,636.48 DASH, with a notional turnover of $949,443.22. Price action reflected a bearish bias from 12:00 to 18:00 ET, before a moderate rebound emerged toward the close.

Structure & Formations

The 15-minute candlestick chart displayed a distinct bearish bias between 17:15 and 18:30 ET, with a bearish engulfing pattern forming around 17:30 ET, followed by a strong bearish hammer at 18:15 ET. A doji appeared at 18:45 ET, signaling indecision and hinting at a potential reversal. By 19:45 ET, a moderate bullish reversal pattern emerged, with a bullish engulfing candle at 19:45 ET. Key support levels were identified at $23.19 and $23.06, with resistance at $23.40 and $23.60. The price remained above the 20-period moving average for most of the day, suggesting a potential retest of these support levels.

Moving Averages

On the 15-minute chart, the 20-period moving average crossed above the 50-period moving average twice, most notably at 17:30 and 18:45 ET, indicating a bearish momentum phase. The 50-period moving average acted as a temporary resistance during the morning session but became a support during the afternoon rebound. For the daily chart, the 50-period moving average remains above the 200-period, with the 100-period slightly above the 50-period, indicating a mixed longer-term bias. Price retesting of the 50-period MA is expected if the rebound continues.

MACD & RSI

MACD remained negative for the majority of the session, with a bearish crossover between the MACD line and signal line at 17:15 ET, confirming the early afternoon sell-off. A bullish crossover occurred at 19:45 ET, aligning with the late-day rebound. RSI reached oversold territory below 30 around 19:30 ET, suggesting a possible bounce. The RSI then rebounded toward the 50 level, indicating the potential for a short-term reversal. However, RSI failed to reach overbought levels, limiting the strength of the bullish case.

Bollinger Bands

Bollinger Bands showed a moderate contraction in the early morning and widened significantly between 17:15 and 19:45 ET, indicating increased volatility during the sell-off. Price traded near the lower band during the bearish phase, then moved closer to the middle band during the rebound. The recent expansion in the bands suggests that volatility could remain elevated in the near term, with the price likely to remain between $23.06 and $23.61 for the next 24 hours.

Volume & Turnover

Trading volume increased significantly during the 17:15–18:30 ET bearish phase, with the largest single 15-minute volume spike at 18:15 ET (1,556.19 DASH), when price fell from $23.33 to $23.28. This volume confirmed the bearish momentum. In contrast, volume declined during the late afternoon rebound, with a moderate increase observed at 20:00 ET as the price rose from $23.19 to $23.24. Notional turnover mirrored the volume patterns, with the largest turnover spike at $36,363.11 at 18:15 ET. The divergence between price and volume during the rebound suggests a weaker bullish signal.

Fibonacci Retracements

Applying Fibonacci retracements to the key 15-minute swing low at $23.06 and high at $23.61, the 38.2% retracement level was at $23.35, and the 61.8% level was at $23.29. Price briefly touched the 38.2% level during the afternoon rebound but failed to hold it, indicating a possible retest of the 61.8% retracement level. For the daily chart, Fibonacci levels based on the recent swing low and high suggest the same structure, with $23.19 as a key level to watch.

Backtest Hypothesis

The backtesting strategy described assumes a long entry when RSI crosses above 30 and MACD turns positive, with a stop-loss at the most recent swing low. Given today’s chart, such a signal was generated around 19:45 ET, when RSI crossed above 30 and MACD turned positive. A stop-loss at $23.06 would have preserved capital during the earlier sell-off. The target for this hypothetical trade would be the 50-period moving average or the 38.2% Fibonacci level. This strategy aligns with the observed late-day momentum shift and may offer a reasonable risk-to-reward ratio for short-term traders.