Market Overview for dYdX/Tether (DYDXUSDT) on 2025-09-20

• dYdX/Tether (DYDXUSDT) formed a bullish reversal pattern on 24-hour 15-min chart after breaking key support and rebounding.
• Volatility and turnover surged in late ET hours, especially after 09:00 ET, indicating heightened interest and potential trend change.
• RSI bottomed in oversold territory and climbed, suggesting potential for short-term bounce.
• Bollinger Bands expanded significantly during the rally, confirming a breakout-like move after a period of contraction.
• Momentum appears to have shifted, with price testing 0.672–0.674 as immediate support and 0.682–0.684 as resistance.

The dYdX/Tether pair (DYDXUSDT) opened at $0.662 on 2025-09-19 12:00 ET, dropped to a low of $0.6537, and closed at $0.6732 by 12:00 ET on 2025-09-20. The 24-hour high was $0.6922, with total volume reaching 6.82 million DYDX and notional turnover hitting $4.58 million. Price rebounded sharply after a test of key support levels and formed a potential bullish reversal, with increasing volume validating the move.

Structure and candlestick formations over the past 24 hours show a clear test and rejection of key support at $0.6537–0.6575, followed by a strong rally that formed a bullish harami and later an inside bar at $0.6675–0.6685. This consolidation appeared to confirm a reversal after the price spent nearly 6 hours below the 20-period EMA. On the daily chart, the 50-period SMA at $0.665 and 100-period SMA at $0.6605 also acted as dynamic support and resistance.

MACD crossed into positive territory around 04:30 ET, signaling strengthening bullish momentum, with the histogram expanding as the rally progressed. RSI bottomed at 27, a clear oversold level, before climbing into the mid-40s, suggesting a potential bounce. Bollinger Bands had been in a tight range for most of the day before expanding sharply during the afternoon rally. The price currently sits near the upper band, suggesting continued strength in the short term. Fibonacci retracement levels from the 0.6537 low to 0.6922 high show 61.8% at $0.6775 and 78.6% at $0.6882, which could act as near-term resistance if the rally continues.

Volume surged notably between 09:00–16:00 ET, peaking at 439,393.58 DYDX at 14:00 ET and 827,351.54 DYDX at 14:30 ET, coinciding with the 0.6805–0.6952 breakout. Notional turnover followed a similar pattern, validating the price action. A divergence between price and volume was not observed, suggesting strong participation. The price remains above the 20-period EMA on the 15-minute chart and has retested the 50-period EMA on the daily chart positively.

The next 24 hours may see a test of the 0.6775–0.6805 resistance zone. A break above this with strong volume could confirm a shift in sentiment, potentially pushing toward the 0.6882 Fibonacci level. However, a pullback to test the 0.6735–0.6724 support zone could provide a retracement opportunity. Investors should remain cautious for a potential bearish divergence in RSI if price stalls near key resistance.

Backtest Hypothesis: A strategy that enters a long position when RSI drops below 30 and MACD crosses into positive territory, with a stop-loss placed at the 61.8% Fibonacci level from the recent low, could be tested on this data. The 15-minute chart shows two such entries in the last 24 hours: one at 06:00 ET and another at 09:00 ET. The first entry aligned with a strong rebound and a positive volume confirmation, while the second showed a more gradual entry but still within the bullish trend.