Market Overview for DOGS/Tether on 2025-09-20

• DOGS/Tether (DOGSUSDT) closed near the 24-hour high, showing bullish momentum.
• Price action formed a bullish engulfing pattern and tested key resistance levels.
• Volatility expanded as the pair broke above a prior high from 19:45 ET.
• RSI suggests overbought conditions, while MACD remains in a positive divergence.
• High-volume rallies in late ET suggest accumulation or speculative interest.

DOGS/Tether (DOGSUSDT) opened at $0.0001366, hit a high of $0.0001390, dipped to $0.0001350, and closed at $0.0001377 by 12:00 ET. The 24-hour volume reached 9.98 billion DOGS, translating to a turnover of roughly $13.6 million, based on the average price. The pair showed a strong upward bias with notable volatility.

Structure & Formations

The 24-hour chart displayed a bullish engulfing pattern forming near $0.0001366 (06:00–06:15 ET), followed by a breakout above a prior high at $0.000138 during the 14:45–15:00 ET session. A key support level appeared at $0.0001361–$0.0001363, which was tested multiple times and held during retracements. A bearish doji formed around $0.0001358 (02:00–02:15 ET), indicating indecision, but was quickly rejected. Resistance levels at $0.0001373, $0.0001379, and $0.0001383–$0.0001384 are now in focus for the next 24 hours.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are in bullish alignment, with price holding above both. The 50-period line (0.0001373) was tested at 05:15–05:30 ET and again at 12:30–12:45 ET but held. On the daily chart, the 50-period (0.0001367), 100-period (0.0001364), and 200-period (0.0001361) are converging, supporting a potential continuation of the uptrend if DOGSUSDT holds above $0.0001363.

MACD & RSI

The MACD turned positive during the 05:15–05:30 ET session and remained above the signal line for most of the day, reinforcing bullish momentum. The RSI approached 65–70 (overbought territory) between 08:00–09:45 ET, but has since corrected to the 55–60 range. No significant overbought divergence emerged, but a bearish signal could develop if the RSI fails to reach prior highs during an uptrend.

Bollinger Bands

Volatility expanded sharply between 14:45–15:30 ET as the pair broke out of the upper Bollinger band. This suggests a breakout move rather than a consolidation. Price has remained above the 20-period moving average within the upper band since the 15:00–15:15 ET candle. A contraction in the bands earlier in the day (02:00–04:00 ET) hinted at a potential reversal, which was confirmed by the subsequent break higher.

Volume & Turnover

Volume spiked during the 14:45–15:00 ET session (223.2 million DOGS) and again at 15:15–15:30 ET (245.9 million DOGS), aligning with price advances. The 08:00–08:15 ET candle had a relatively low volume (34.1 million DOGS), but the price still pushed higher, suggesting strong conviction. Turnover confirmed volume increases, with the 15:15–15:30 ET candle seeing ~$3.4 million in turnover — the highest of the day.

Fibonacci Retracements

Applying Fibonacci to the 19:45–23:30 ET downtrend (high $0.0001379 to low $0.0001350), the 61.8% retracement level fell near $0.0001367, which the price tested and bounced off around 12:00–12:15 ET. The 38.2% level was at $0.0001363, also a key support. On the daily chart, the 50% retracement of the previous week's move is now at $0.0001367, aligning with the 15-minute 61.8% level and suggesting a critical area for consolidation or reversal.

Backtest Hypothesis

The backtesting strategy under consideration is a Trend Confirmation + RSI Oversold Crossover approach. It assumes a long entry when price closes above the 50-period moving average on the 15-minute chart and RSI crosses back above 55 from below. A stop-loss is placed at the recent swing low, and a take-profit is set at the 61.8% Fibonacci level. This strategy aligns with the observed bullish momentum and overbought RSI pullback into neutral territory, potentially offering an entry into the current upward trend.