Market Overview: DIA/Tether (DIAUSDT) – 2025-09-23 12:00 ET

• DIA/Tether declined from 0.6128 to 0.5994, with bearish momentum evident in early morning sell-offs.
• Volatility expanded early in the 24-hour period, with a peak volume spike of 102,892.4 at 3:00 AM ET.
• Key support held around 0.5966–0.5985, while resistance failed at 0.6032–0.6046.
• RSI and MACD signaled bearish momentum with a possible short-term oversold condition later in the day.
• Turnover remained uneven, with price and volume diverging during late afternoon consolidation.

DIA/Tether (DIAUSDT) opened at 0.6124 on 2025-09-22 12:00 ET, reaching a high of 0.6128 and a low of 0.5966, before closing at 0.5994 on 2025-09-23 12:00 ET. The 24-hour total volume amounted to 536,734.6, and notional turnover was $326,097.29, indicating moderate activity with significant intraday price action and divergence in volume and price movement.

Structure & Formations

Price action showed a strong bearish bias from early morning, with a key bearish reversal pattern forming around 0.6003–0.6026 between 1:15 and 2:30 AM ET. A deep bearish engulfing pattern at 3:00 AM ET confirmed the downtrend. Later, a bullish pinbar and consolidation suggested temporary oversold conditions by late afternoon. Key support levels were identified at 0.5966–0.5985, with resistance at 0.6023–0.6032 and a prior high at 0.6051. A bullish breakout of 0.6032 could signal a short-term reversal, but bears remain in control.

Moving Averages

On the 15-minute chart, the 20SMA crossed below the 50SMA, reinforcing the bearish bias. On the daily timeframe, the 50DMA and 100DMA were closely aligned, both trending downward, with the 200DMA acting as a psychological floor. Price remained well below all key MAs, indicating a strong downtrend.

MACD & RSI

The MACD was bearish throughout the session, with a negative histogram and a clear bearish crossover of the signal line. RSI dropped into oversold territory (30–34) by 4:30 PM ET, suggesting a potential bounce, though this remains unconfirmed. No clear overbought signals were observed, with RSI peaking at 56 earlier in the session.

Bollinger Bands

Volatility was elevated in the first hours of the session, with a band width of 0.0048 at 3:00 AM ET. Price remained within the lower half of the bands for most of the 24-hour period, indicating a bearish squeeze. A reversal above the upper band at 0.6035 would be needed to confirm a shift in sentiment.

Volume & Turnover

Volume spiked sharply at 3:00 AM ET (102,892.4) during the bearish breakout but remained muted during the afternoon consolidation, suggesting a potential divergence. Notional turnover mirrored volume patterns, with a peak of $62,274.75 at that time. The late afternoon volume was significantly lower, indicating a lack of conviction in the consolidation phase.

Fibonacci Retracements

On the 15-minute chart, the 61.8% retracement level of the 0.6128–0.5966 move was around 0.6012, which coincided with a key support zone. The 38.2% level was at 0.6042, where price showed hesitation multiple times. On the daily chart, 61.8% retracement of the prior bear wave pointed to 0.6045, which was tested but failed.

Backtest Hypothesis

Given the bearish momentum and oversold RSI reading in the late afternoon, a potential short-term reversal strategy could be backtested by entering long on a breakout above the 0.6032 Fibonacci level, with a stop below 0.6008 and a target at 0.6065. This approach would align with the observed price behavior, using volume and RSI signals as entry filters to avoid false breakouts. A trailing stop could be used once the price confirms a bullish trend continuation.