Market Overview: DOGS/Tether (DOGSUSDT) on 2025-09-18

• Price surged 1.2% over 24 hours, closing near a 24-hour peak after a mid-session breakout.
• Volume spiked sharply during the early New York session, indicating strong institutional participation.
• RSI reached 62, suggesting rising momentum but not yet overbought, with Bollinger Bands expanding.
• A bullish engulfing pattern formed around 0.0001350–0.0001360, signaling short-term bullish sentiment.
• Turnover diverged after 03:00 ET as volume dropped, but price continued higher, hinting at shallow conviction.

DOGS/Tether (DOGSUSDT) opened at $0.0001362 on 2025-09-17 at 12:00 ET, surged to a high of $0.0001447, touched a low of $0.0001416, and closed at $0.0001428 at 12:00 ET on 2025-09-18. The 24-hour volume was approximately 11.64 billion DOGS, while the notional turnover totaled around $16.57 million, reflecting intense short-term activity.

Structure & Formations

The price action on DOGSUSDT formed a bullish engulfing pattern around the 0.0001350–0.0001360 cluster following a key pullback from the 0.0001384–0.0001385 area. This suggests a shift in sentiment from bearish to bullish in the short term. A key support level appears to be forming at $0.0001390–0.0001395, where price found buying pressure after a midday pullback. Resistance is currently at $0.0001441–0.0001447, a level tested twice during the session with a failed breakdown. A doji formed at 0.0001440 on the 23:45 candle, signaling indecision ahead of the key session high.

Moving Averages

On the 15-minute chart, the 20SMA and 50SMA crossed in a bullish crossover around 18:15 ET, confirming a short-term uptrend. The 50EMA crossed above the 100EMA and 200EMA by 21:00 ET, suggesting a more extended bullish bias. However, the 200-day EMA remains bearish at $0.0001386, suggesting that any rally above 0.0001441 could face extended resistance.

MACD & RSI

MACD showed a bullish crossover at 18:30 ET, with the histogram expanding until 01:45 ET before contracting slightly after a consolidation phase. RSI reached a high of 62 during the session, indicating strong upward momentum without yet entering overbought territory. A bearish divergence appeared around 03:00 ET when RSI remained elevated while volume declined, suggesting caution for further upward extension.

Bollinger Bands

Bollinger Bands expanded significantly during the afternoon and early evening, indicating rising volatility. Price spent much of the session near the upper band, especially between 18:15 and 22:30 ET, suggesting strong bullish momentum. By the end of the session, price closed within the upper half of the bands, which typically points to a continuation of the current trend.

Volume & Turnover

The highest volume spike occurred between 18:15 and 22:30 ET, with over 450 million DOGS traded, correlating with the price breakout above 0.0001420. Turnover followed a similar pattern, peaking at $2.1 million during this period. However, after 03:00 ET, volume and turnover began to decouple as price continued to rise, suggesting that the rally may be running on dwindling conviction.

Fibonacci Retracements

Fibonacci levels applied to the key swing from 0.0001350 to 0.0001447 showed 61.8% at $0.0001411 and 78.6% at $0.0001434, which were both tested during the session. The 61.8% level provided strong support during the mid-afternoon consolidation, while the 78.6% level acted as a key resistance before the price surged to its session high. A break above 0.0001447 could target 100% at $0.0001464 next.

Backtest Hypothesis

Given the formation of a bullish engulfing pattern and the bullish MACD crossover, a backtest strategy could involve a long entry at the open of the candle following the engulfing pattern with a stop loss below 0.0001390. A target could be set at the 78.6% Fibonacci level of $0.0001434, with an exit on a bearish divergence in RSI or a break below the 20SMA. This strategy would align with the current technical setup and the observed increase in volume and momentum during the breakout phase.