Market Overview for DeXe/Tether (DEXEUSDT) on 2025-10-30

• Price surged from $6.487 to $7.000, with a 24-hour peak before consolidating near $6.513.
• Strong bullish momentum was seen around 16:30 ET, followed by a rapid reversal and bearish correction by 19:00 ET.
• Volume spiked during the $7.000 high at 33711.62, but declined during the pullback.
• RSI showed overbought conditions early, with bearish divergence later in the session.
• Price is now testing key Fibonacci support at $6.513 and $6.446 on the 24-hour chart.

The DeXe/Tether (DEXEUSDT) pair opened at $6.487 on 2025-10-29 at 12:00 ET and reached a 24-hour high of $7.000 before closing at $6.513 on 2025-10-30 at 12:00 ET. The total 24-hour volume was 100,140.29, while notional turnover amounted to $645,670.37. Price action was marked by a sharp 7.25% rally in early trading, followed by a 7.85% correction in the next 3 hours, forming a bearish reversal pattern.

Structure & Formations

Price formed a Bullish Engulfing candle at 16:30 ET with open at $6.523 and close at $6.576, signaling strong buying pressure. However, a Bearish Evening Star pattern emerged at 18:45–19:15 ET, with a high of $6.679 followed by a bearish engulfing at 19:15–19:30 ET, closing at $6.600. A Doji appeared at 05:45–06:00 ET, suggesting indecision. Key support levels at $6.513, $6.46, and $6.446 are under test with the current close.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA at 00:15 ET, forming a short-term bullish crossover. However, the 50-period MA started pulling away from the close by 07:15 ET, indicating weakening momentum. On the daily chart, the 50-day MA remains above the 200-day MA, indicating an intermediate bullish bias, although price is below both averages.

MACD & RSI

The MACD crossed into positive territory at 16:30 ET, confirming the bullish engulfing pattern. However, the line began to diverge from the price by 19:00 ET, hinting at waning momentum. RSI spiked to 92 at 18:45 ET, indicating overbought conditions, and then collapsed to 57 by 03:15 ET, signaling bearish divergence. A further RSI drop below 50 could indicate a deeper pullback.

Bollinger Bands

Bollinger Bands tightened around 18:15–19:00 ET, suggesting a potential breakout. The subsequent bearish breakdown saw price fall below the lower band by 19:30 ET, confirming a short-term bearish shift. Volatility expanded again as price moved from $7.000 to $6.316, indicating increased uncertainty.

Volume & Turnover

Volume surged to 33,711.62 at 16:30–16:45 ET, coinciding with the bullish engulfing pattern. However, the subsequent bearish reversal was accompanied by 9,265.12 in volume at 18:45–19:00 ET, indicating strong selling pressure. Notional turnover reached a 24-hour high of $47,629.58 during the bearish breakdown.

Fibonacci Retracements

Recent 15-minute swings suggest key Fibonacci support at $6.513 (38.2%), $6.446 (61.8%), and $6.401 (100%). A break below $6.446 would target $6.401. On the daily chart, a retest of $6.513 appears critical for near-term stability, with a failure to hold it likely leading to a test of $6.401.

Backtest Hypothesis

The price action and RSI divergence observed during this 24-hour period suggest potential for a backtest strategy based on RSI overbought and oversold levels. A hypothetical strategy could open a short position when RSI falls below 30 and exit when it rises above 40. Alternatively, a long entry could be triggered when RSI crosses above 30, with an exit at 50. Given the observed bearish divergence after an RSI high of 92, a sell signal would align with the reversal patterns seen. Incorporating stop-loss at $6.513 and a target at $6.351 (61.8% Fibonacci) could help manage risk while capturing the trend.