Market Overview: Dego Finance/Tether (DEGOUSDT) – Strong Bullish Momentum on 24-Hour Chart

• Dego Finance/Tether (DEGOUSDT) surged over 24 hours, closing near a 24-hour high amid strong volume and bullish momentum.
• Price formed a strong ascending triangle pattern with clear resistance at 1.234 and support at 1.226, confirming directional bias.
• MACD and RSI aligned with bullish momentum, showing no signs of near-term exhaustion or overbought conditions.
• Bollinger Bands showed moderate volatility with price hovering above the midline, reinforcing a bullish trend.
• High volume confirmed price increases, with no notable divergence between price and turnover.

Dego Finance/Tether (DEGOUSDT) opened at 1.191 on 2025-09-17 at 12:00 ET and closed at 1.224 by 2025-09-18 at the same time, reaching a high of 1.237 and a low of 1.183. Total 24-hour volume was 498,154.59, while notional turnover came in at approximately $608,540. The price action over the last 24 hours showed a clear bullish bias with increasing momentum.

The structure of the candlestick data revealed a strong ascending triangle pattern, with support forming at around 1.226 and resistance consolidating at 1.234. Notable bullish formations included a strong white candle with high volume at 1.234 and a piercing pattern near 1.226. No significant bearish patterns emerged during the 24-hour period, suggesting continued bullish control. This pattern typically signals a potential breakout above the resistance level, which could lead to further gains.

Moving averages on the 15-minute chart showed the 20-period line above the 50-period, reinforcing the bullish bias. On the daily chart, the 50-period line crossed above the 100 and 200-period lines, a classic golden cross, signaling strong continuation potential. The MACD remained positive throughout the period, with a strong signal line crossing up, suggesting sustained momentum. RSI hovered between 55 and 65, indicating healthy bullish momentum without entering overbought territory.

Bollinger Bands showed a moderate expansion, with price consistently trading above the midline and near the upper band, indicating high volatility and bullish momentum. The bands did not show a significant contraction that would signal a potential reversal or consolidation phase. Price action remained within a defined range, with the upper band acting as dynamic resistance. Volatility appeared to be supporting the upward trend, which may continue as long as key resistance levels hold.

The Fibonacci retracement levels on the 15-minute chart highlighted key levels at 1.228 (38.2%) and 1.221 (61.8%), both of which acted as temporary consolidation points. The price found support at 1.221 and then tested the 1.228 level, showing resilience. Daily retracements indicated a broader bullish trend with 1.226 as a critical level to watch. A break above 1.234 could lead to a retest of 1.237, while a pullback below 1.226 may invite short-term profit-taking.

Backtest Hypothesis

A potential backtesting strategy could be based on the golden cross of the 50-period over the 100 and 200-period moving averages on the daily chart, combined with RSI between 50 and 65, signaling a strong continuation of the bullish trend. A long entry at the close of a bullish candle confirming above 1.226 with high volume, and a stop-loss below the recent swing low at 1.218, could capture the upward move. A target could be set at 1.234, with a take-profit at 1.237 if the upper band of the Bollinger Bands holds. This approach would require monitoring of volume to confirm price action and ensure no divergence arises between price and momentum indicators.