Market Overview for dForce/Tether USDt (DFUSDT)

• Price declined from a 24-hour high of $0.02943 to $0.02839, closing near the 24-hour low.
• Strong bearish momentum observed in RSI and MACD, with RSI near oversold territory.
• Volatility expanded through Bollinger Bands, with price settling below the 20-period MA.
• Volume spiked during key sell-offs in early NY session, reinforcing bearish sentiment.
• Fibonacci retracement levels suggest possible near-term support at $0.0286–$0.0287 and resistance at $0.0290.

The dForce/Tether USDt (DFUSDT) pair opened at $0.02894 on 2025-09-10 12:00 ET, reached a high of $0.02943, and closed at $0.02839 at 2025-09-11 12:00 ET. The 24-hour volume was 19,444,024.0, with a notional turnover of $557,979.04. The pair experienced a bearish trend, with key support and resistance levels forming during the session.

Structure & Formations

DFUSDT formed a clear bearish bias over the 24-hour period, with multiple bearish candlestick patterns reinforcing the downtrend. A key bearish engulfing pattern appeared around 02:30 ET on 2025-09-11, as the price closed at $0.02929 after opening at $0.02953 and hitting a high of $0.02953. Later in the session, a long lower shadow candle at 11:45 ET on 2025-09-11 suggested a possible rejection of lower prices, but the trend remained intact. The price found support near $0.0286–$0.0287, with a potential short-term reversal possible if the pair holds above this level.

Moving Averages

On the 15-minute chart, the 20-period moving average (MA) crossed below the 50-period MA, forming a bearish "death cross." This signaled increased bearish momentum, particularly between 02:30 and 05:00 ET on 2025-09-11. The 50-period MA was near $0.02908, and the 20-period MA was at $0.02902 by the close of the 24-hour period, indicating a narrowing gap and continued bearish pressure.

MACD & RSI

The MACD line turned negative and remained below the signal line, reinforcing the bearish trend. The histogram showed expanding bearish momentum, particularly in the 03:00–06:00 ET window. The RSI indicator fell to below 30 in the afternoon session on 2025-09-11, suggesting the price may be approaching oversold territory. However, the RSI did not form a strong bullish divergence, meaning a rebound could still be temporary rather than a reversal.

Bollinger Bands

The price spent much of the 24-hour period near the lower Bollinger Band, indicating increased volatility and bearish pressure. The bands themselves expanded during the early morning and midday hours, reflecting heightened market uncertainty. The price closed near the lower boundary, which may indicate a continuation of the downtrend unless a strong bullish reversal emerges.

Volume & Turnover

Volume surged during key sell-off periods, especially between 02:30 and 04:00 ET, when the price dropped from $0.02953 to $0.02915 on high volume. This reinforced the bearish trend. Turnover was also elevated during these periods, confirming the conviction of sellers. However, in the final hours of the 24-hour window, volume decreased as the price stabilized near support, suggesting a potential pause in the downtrend.

Fibonacci Retracements

Applying Fibonacci retracements to the 24-hour swing from $0.02943 to $0.02839, the 38.2% retracement level was near $0.02894 and the 61.8% retracement level was near $0.02871. The price bounced slightly from the 61.8% level before resuming the decline, suggesting the level may hold short-term significance. A break below $0.0286 could target further support at $0.0284–$0.0283.

Backtest Hypothesis

A backtesting strategy involving a short entry on a bearish engulfing pattern and a stop-loss above the 61.8% Fibonacci level could have captured part of the 24-hour decline. If RSI had confirmed oversold conditions and volume had not diverged, it may have signaled a strong bearish trade setup. However, the lack of a bullish divergence and the continued bearish momentum suggest the strategy would require a strict exit at key support levels to avoid whipsaw risk.