Market Overview for DeXe/Tether (DEXEUSDT) - 2025-09-16

• Price surged 6.75% in 24h, reaching a high of $7.006 before consolidating.
• Momentum remains strong with RSI above 60 and bullish MACD.
• Volatility expanded as Bollinger Bands widened and price traded near the upper band.
• Volume spiked sharply around the 22:30 ET peak and declined after 04:00 ET.
• A bullish engulfing pattern formed at the 00:00 ET candle, signaling potential continuation.

Opening Summary

DeXe/Tether (DEXEUSDT) opened at $6.856 on 2025-09-15 12:00 ET and reached a high of $7.006 before settling at $6.976 as of 2025-09-16 12:00 ET. The 24-hour session recorded a total volume of 39,805.55 DEXE and a notional turnover of $269,735.35, marking increased participation and momentum in the pair.

Structure & Formations

The 24-hour OHLCV data for DEXEUSDT reveals a bullish bias, with price forming multiple higher highs and higher lows. Key support levels were identified around the $6.85–6.88 range, particularly after a consolidation phase during the 16:00–19:00 ET window. Notably, a bullish engulfing pattern appeared at the 00:00 ET candle, which may indicate a continuation of the upward trend. A doji-like formation at 05:30 ET, while not structurally significant, hints at momentary indecision. The price action has shown a preference for closing above mid-range, suggesting strong buying interest.

Moving Averages

On the 15-minute chart, the price has remained above the 20-period and 50-period moving averages for most of the session, reinforcing the bullish momentum. The 20-period MA acted as a dynamic support line during the early afternoon hours before the price broke out above it. On the daily timeframe, the 50-period MA is expected to provide near-term resistance as it approaches $6.93, while the 200-period MA supports the longer-term bullish bias at around $6.82.

MACD & RSI

The 12:00 ET close saw the RSI at approximately 61.5, indicating moderate strength without overbought conditions. The MACD line crossed above the signal line at 19:15 ET, confirming a bullish crossover. The histogram has remained positive throughout the session, with the largest divergence occurring around the 22:30 ET high. These indicators suggest sustained momentum into the overnight session, though a pullback toward the 55–60 RSI range may offer a favorable entry point for longs.

Bollinger Bands

Volatility expanded significantly around 22:00 ET as the upper Bollinger Band reached $7.025, while the lower band remained stable near $6.87. The price spent much of the session near the upper band, indicating a strong bullish phase. This expansion may continue or contract into a consolidation phase if the trend fails to extend beyond $7.03. A retracement toward the middle band (currently at ~$6.95) could signal a temporary pause but is unlikely to reverse the trend unless the RSI dips below 50.

Volume & Turnover

Volume spiked sharply during the 22:00–22:30 ET window, coinciding with the price reaching its high of $7.006. Notional turnover increased in line with the volume, indicating healthy confirmation of the move. After 04:00 ET, volume began to taper off, suggesting reduced participation and potential exhaustion. However, the 06:00 ET candle showed renewed volume and a small breakout to $6.971, indicating ongoing interest from buyers.

Fibonacci Retracements

Applying Fibonacci retracement levels to the swing high at $7.006 and low at $6.824, the 38.2% level sits at $6.92 and the 61.8% at $6.955. These levels appear to have acted as soft support during the overnight session. The 50% retrace level (~$6.912) may offer resistance in the short term. Given the strength of the trend, a break above the 61.8% level could indicate a retest of the $7.00–7.02 range.

Backtest Hypothesis

A potential backtest strategy could focus on capturing continuation moves during strong bullish trends by entering longs at the close of bullish engulfing patterns when the RSI remains above 55 and the price is above the 20-period moving average. Exits could be triggered when the price dips below the 20-period MA or the RSI falls below 50. This strategy would align with the observed behavior of DEXEUSDT over the past 24 hours, where momentum persisted despite minor retracements.