Market Overview for DIA/Tether (DIAUSDT) – 2025-09-24

• DIA/Tether (DIAUSDT) traded in a tight range with key support at 0.5868 and resistance at 0.6045.
• Momentum shifted multiple times, with RSI showing overbought levels in the morning and oversold in the afternoon.
• Volatility expanded during the late-night hours, with a surge in volume and turnover.
• Price formed a bearish engulfing pattern near 0.6002 and a bullish hammer near 0.5904.

DIA/Tether (DIAUSDT) opened at 0.6025 on 2025-09-23 12:00 ET, with a high of 0.6071 and a low of 0.5868 over the 24-hour period, closing at 0.5925 on 2025-09-24 12:00 ET. Total volume was 1,008,943.5 units, and notional turnover amounted to approximately $593,000. Price action reflected bearish pressure after an early morning rally.

Structure & Formations

Price formed a bearish engulfing pattern around 0.6002 during the early morning hours, suggesting a potential reversal from bullish to bearish momentum. A bullish hammer appeared near the session low of 0.5904, indicating possible support. The price remained between 0.5868 and 0.6071, forming a consolidation pattern with a breakdown below key resistance.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed below price late in the session, signaling bearish momentum. On the daily chart, the 50-period MA provided resistance during the morning, while the 200-period MA acted as a long-term support level.

MACD & RSI

The MACD crossed into negative territory during the afternoon, indicating bearish momentum. RSI reached overbought levels at 70 in the early morning, followed by a rapid descent into oversold territory by midday. This suggests strong short-term volatility and a lack of conviction among bulls.

Bollinger Bands

Volatility expanded during the late-night hours, pushing price near the upper band at 0.6071 before a sharp contraction. Price closed near the lower band at 0.5904, suggesting bearish pressure and a possible continuation of the downtrend.

Volume & Turnover

Volume surged during the late-night and early morning hours, coinciding with the breakdown of key resistance levels. Notional turnover spiked during the high-volume bearish candle at 0.5904, confirming the bearish shift. Divergence between price and volume during the morning hours suggested a potential short-term reversal.

Fibonacci Retracements

Applying Fibonacci levels to the 0.6071–0.5868 move, price found support at the 61.8% retracement level (~0.5936), which was tested twice during the session. A break below 0.5904 (38.2% retracement) could trigger further bearish movement toward 0.5850.

Backtest Hypothesis

A backtesting strategy could focus on identifying bearish engulfing and bullish hammer patterns within the 15-minute timeframe, combined with RSI overbought/oversold signals and Bollinger Band volatility shifts. Traders might look to short on confirmed bearish pattern breaks with stop-loss placement above key Fibonacci levels. This approach may optimize risk-reward ratios by capitalizing on short-term momentum reversals.