Market Overview for DeXe/Tether (DEXEUSDT): Strong Bullish Momentum and Key Reversal Patterns

• • •

• Price surged 23% over 24 hours, with a strong bullish reversal from ~$9.34 to a high of $9.91 after late-session buying.
• Volume spiked over 19,000 units during the final 15-minute candle, confirming strong momentum.
• Bullish engulfing patterns appeared at $9.35 and $9.60, suggesting strong reversal potential.
• MACD turned bullish, with a positive cross and RSI showing overbought conditions near 80.
• DEXEUSDT traded within a widening Bollinger Band, indicating rising volatility and break-out potential.

DeXe/Tether (DEXEUSDT) opened at $9.34 at 12:00 ET - 1 and closed at $9.468 at 12:00 ET, reaching a high of $9.91 and a low of $9.30 over the 24-hour period. Total volume was 100,810 units, while notional turnover reached $950,000. The price action reflects a strong bullish trend, driven by late-session buying.

Structure & Formations

The price formation over the 24-hour period displayed multiple key support and resistance levels. A major support area was established at $9.30–$9.35, where the price showed a consolidation pattern before a sharp reversal. A large bullish engulfing pattern emerged at $9.35, signaling strong buyer interest. Additionally, a strong resistance level was identified around $9.60–$9.75, with multiple rejections followed by breakouts. A bearish engulfing pattern near $9.75 suggested a temporary pause before resuming the upward trend. A doji candle at $9.55 also hinted at potential indecision before a further rally.

Moving Averages

On the 15-minute chart, the price is comfortably above both the 20-period (20SMA) and 50-period (50SMA) moving averages, indicating strong bullish momentum. The 50SMA crossed above the 20SMA earlier in the session, forming a golden cross. On the daily chart, the 50-day moving average is at $9.42, while the 100-day and 200-day averages are at $9.35 and $9.28, respectively. The price is currently above all key moving averages, reinforcing the bullish trend.

MACD & RSI

The MACD turned bullish with a positive cross and a strong histogram expansion during the final hours of the session, especially after the price crossed $9.70. The RSI reached overbought territory near 80, indicating strong buying pressure and the potential for a short-term correction. However, the momentum remains intact with a strong positive divergence forming between the MACD and the price.

Bollinger Bands

Volatility expanded significantly during the session, with the Bollinger Bands widening to reflect the strong price movements. The price closed near the upper band at $9.91, indicating a strong breakout attempt. Earlier in the session, a contraction in the bands was observed before a sharp expansion, suggesting a potential continuation of the bullish trend. The current position of the price inside the bands supports the view of a continuation rather than a reversal.

Volume & Turnover

Volume surged during the final 15-minute candle, with a massive 19,100 units traded as the price pushed to a high of $9.91. This was the largest single candle in terms of volume and coincided with a sharp upward move, indicating strong confirmation of the bullish break. Turnover increased in line with the price, with no signs of divergence between price and volume. This aligns with the continuation of the bullish trend and validates the recent price momentum.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute swing (from $9.30 to $9.91) highlights key levels for possible pullbacks and continuation. The 61.8% retracement level is at $9.65, where the price showed a brief pause before resuming its upward trend. The 38.2% level at $9.78 also appears to be a key area of resistance. On the daily chart, the 61.8% retracement level of the previous major decline is at $9.46, which is near the current price, suggesting it could be a consolidation zone before the next move.

Backtest Hypothesis

The recent bullish breakout pattern and strong volume confirmation suggest a potential strategy could be to enter long positions on the break of the upper Bollinger Band or the 61.8% Fibonacci level. A stop-loss could be placed below the 38.2% retracement level at $9.52 to manage risk. This setup was validated by the MACD bullish crossover and the strong volume surge, indicating a high-probability trade setup for continuation of the bullish trend.