Market Overview for DeXe/Tether (DEXEUSDT) – 24-Hour Technical Analysis

• DEXE/USDT fell 9.8% over 24 hours, closing near session low at 7.143
• Price action shows bearish momentum and overbought RSI reversal
• Volatility increased during late night dump, with volume peaking at 21,828.85
• Bollinger Band contraction confirmed ahead of morning break
• Fibonacci 61.8% level at 7.125 holds as key short-term support

DeXe/Tether (DEXE/USDT) opened at 7.172 on 2025-09-17 12:00 ET and closed at 7.143 at 12:00 ET on 2025-09-18, recording a low of 7.053 and a high of 7.342. The pair traded with a total volume of 56,394.85 and a total turnover of 396,723.33 USD. The 24-hour move reflects bearish continuation with increasing volatility and declining price action.

Structure & Formations

The price action displayed a key bearish structure beginning in the early morning hours, with a large 15-minute candle forming at 2025-09-18 05:00 ET, opening at 7.133 and closing at 7.226 — a strong bullish reversal was followed by a sharp pullback. However, this failed to hold, and price reversed again with a bearish engulfing pattern forming at 2025-09-18 05:45 ET. The key support levels at 7.133 and 7.108 were repeatedly tested, while 7.226 and 7.342 acted as overhead resistance. A doji appeared at 2025-09-18 06:15 ET near 7.143, suggesting indecision and potential short-term exhaustion.

Moving Averages

On the 15-minute chart, price closed below the 20 and 50-period EMAs, suggesting short-term bearish bias. The 20 EMA was at ~7.175, while the 50 EMA sat near 7.165. The daily chart (not fully provided) would likely show a similar bearish divergence, with price likely below 50, 100, and 200-period MAs, which is a bearish technical alignment.

MACD & RSI

The 15-minute MACD turned negative during the 2025-09-18 05:00 ET candle, confirming bearish momentum after an initial bullish reversal. The RSI reached overbought territory at 7.342 but reversed sharply downward, suggesting exhaustion and a potential continuation of the bearish move. The current RSI sits near 35, indicating a neutral zone but with downward bias expected.

Bollinger Bands

Price moved through a period of Bollinger Band contraction from 2025-09-17 19:00 to 2025-09-18 05:00 ET, which preceded the breakout at 7.226. The subsequent move down toward 7.108 saw price trading near the lower band, indicating heightened volatility and bearish pressure. The current price sits slightly above the 20-period lower Bollinger Band, suggesting a potential rebound or further bearish continuation could follow.

Volume & Turnover

The most significant volume spike occurred at 2025-09-18 05:00 ET, where 21,828.85 units traded, confirming the bullish breakout. However, this was quickly invalidated with a sharp reversal and increased bearish volume from 2025-09-18 05:45 to 06:30 ET. Notional turnover followed similar patterns, peaking at the same time as the volume surge and declining as price moved down. A divergence between price and volume occurred during the 2025-09-18 06:00 to 06:15 ET timeframe, suggesting potential bearish continuation.

Fibonacci Retracements

Applying Fibonacci to the swing high at 7.342 and the swing low at 7.053, the key 61.8% retracement level sits at 7.125, which the price has tested multiple times. The 50% retracement is at 7.198, a level that failed as resistance. The 38.2% level at 7.174 is near the 20-period EMA and appears to be a minor overhead hurdle for near-term buyers.

Backtest Hypothesis

Given the bearish divergence in RSI, the bearish engulfing pattern on the 15-minute chart, and the breakdown of key Fibonacci levels, a possible backtesting strategy would be to enter short positions at 7.16–7.17 upon retesting of the 50-period EMA and place a stop above 7.205. A take-profit target could be set at 7.105–7.108, aligning with the recent support zone. This setup would look for confirmation from the 15-minute candlestick structure and a close below the 20 EMA as entry triggers.