Market Overview: dYdX/Tether (DYDXUSDT) on 2025-10-05

• dYdX/Tether (DYDXUSDT) edged higher over 24 hours, closing near intraday high with bullish momentum.
• Key resistance appears at 0.616–0.618, with 0.612–0.614 forming immediate support.
• Volatility expanded in early ET, coinciding with a sharp volume spike.
• RSI and MACD show positive divergence, suggesting potential for further upside.
• Price traded within widening Bollinger Bands, indicating heightened market activity.

At 12:00 ET on October 5, 2025, dYdX/Tether (DYDXUSDT) opened at 0.6084, reached a high of 0.6397, and closed at 0.6205, with a 24-hour low of 0.6095. Total volume for the period was 5,665,402.14, and notional turnover amounted to 3,479,842.58. The price showed a distinct bullish bias, with a series of higher highs and higher closes during the session.

Structure & Formations

The 24-hour candlestick chart for DYDXUSDT revealed a strong bullish bias, particularly in the early morning ET hours. Price tested key resistance levels around 0.616–0.618 and 0.624–0.627, with a bearish rejection seen at the upper end of the second cluster. A notable engulfing pattern formed at 0.6305–0.6325, suggesting a temporary bearish pullback. Conversely, a morning star pattern emerged near 0.6205, hinting at a potential reversal from bearish to bullish sentiment.

Moving Averages

On the 15-minute chart, the 20 and 50-period moving averages moved in tandem, both rising in lockstep with the price action, indicating strong bullish momentum. On the daily chart, the 50-period MA crossed above the 100-period MA in a “golden cross” formation, reinforcing the medium-term bullish outlook. The 200-period MA, however, remained bearish, suggesting a possible tug-of-war between short-term optimism and longer-term caution.

MACD & RSI

The MACD histogram turned positive in the early hours of the session, with a bullish crossover of the signal line around 01:00 ET, followed by a broad-based rally. RSI reached a high of 65.4 and later pulled back to 53.6, showing a healthy but not overbought condition. The divergence between RSI and price at the top of the 0.6271–0.6328 swing suggested a potential correction may follow.

Bollinger Bands

Volatility expanded dramatically between 02:45 and 03:00 ET, with the price breaking above the upper band at 0.6271. The bands widened significantly, indicating a period of heightened activity and a potential shift in sentiment. By the afternoon, price had consolidated within the bands, closing near the midline, which implies a possible pause in momentum before the next move.

Volume & Turnover

The highest volume spike occurred at 05:00 ET, with a turnover of 457,483.26, coinciding with a breakout to 0.6303. This volume was sufficient to confirm the breakout, adding credibility to the move. However, later volume decreased, suggesting that the buying pressure may be moderating. A divergence between rising price and declining volume at the end of the session could signal weakening bullish momentum.

Fibonacci Retracements

Applying Fibonacci to the major 15-minute swing from 0.6121 to 0.6303, the 38.2% retracement level sits at 0.6226 and the 61.8% at 0.6195. Price tested the 38.2% level before rebounding, suggesting it could hold as support. On the daily chart, the 61.8% retracement from the low at 0.6095 to the high at 0.6328 is at 0.6223—very close to the 24-hour close. This alignment adds weight to the idea that the immediate support is likely to hold.

Backtest Hypothesis

The backtesting strategy outlined assumes a breakout-based entry at the upper Bollinger Band, confirmed by a closing above the 20-period moving average. A stop-loss is placed at the 61.8% Fibonacci retracement level, with a target at the 38.2% level. Given the recent price action, this strategy appears to have been validated in the 02:45–03:00 ET period. A similar approach could be applied to the next rally, with the current 0.6205 level as a potential base for a new breakout.