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Summary
• Price broke key support near $3.30 and consolidated in a bearish channel.
• RSI entered oversold territory, suggesting potential short-term reversal.
• Volume surged during the selloff, reinforcing bearish conviction.
• Bollinger Bands widened, indicating increased volatility.
• A potential bullish engulfing pattern emerged near $3.24, hinting at near-term bounce.
Overview
DeXe/Tether (DEXEUSDT) opened at $3.35 at 12:00 ET–1, hit a high of $3.405 and a low of $3.205, and closed at $3.245 as of 12:00 ET today. Total 24-hour volume was 24,792.24, with a notional turnover of approximately $79,589. The pair faced increasing bear pressure after a failed rally above $3.35.
Structure & Key Levels
Price formed a descending channel on the 5-minute chart, with resistance consolidating near $3.35–$3.40 and strong support at $3.24–$3.26. A bullish engulfing candle appeared around $3.24, suggesting a possible short-term bounce, though it remains below the psychological $3.30 level. A doji at $3.262 highlighted indecision.
Moving Averages and Momentum
The 20- and 50-period moving averages on the 5-minute chart are bearishly aligned, reinforcing the downward bias.

Volatility and Volume
Bollinger Bands expanded significantly during the selloff, indicating heightened volatility. Volume surged during the $3.30–$3.25 breakdown, confirming bearish continuation. A divergence between price and volume was not observed, suggesting strong conviction behind the move lower.
Fibonacci Retracements
A key 61.8% retracement level was found near $3.24–$3.26, where price paused, suggesting a potential short-term support zone. Further downward extension may see $3.20 as the next critical test, with $3.15 as a deeper target.
Forward Outlook and Risk
Price appears to be testing a critical support cluster near $3.24–$3.26. A close above this range could trigger a countertrend rally toward $3.30, but a break below $3.20 would intensify bearish pressure. Investors should remain cautious, as volatility is elevated and the near-term bias favors continuation of the downtrend.
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