Market Overview for dYdX/Tether (DYDXUSDT): Volatility Reemerges Amid Key Support Test

Summary
• Price formed a bullish engulfing pattern on 5-minute chart near 0.1965–0.1982.
• Volatility expanded after 12:00 ET with a 2.5% range from 0.1965 to 0.2006.
• RSI bottomed near 28, indicating short-term oversold conditions with potential for a rebound.
• Bollinger Bands showed a modest contraction before 00:00 ET and subsequent expansion.

dYdX/Tether (DYDXUSDT) opened at 0.1988 on 2025-12-09 12:00 ET, reached a high of 0.2078, a low of 0.1965, and closed at 0.1984 on 2025-12-10 12:00 ET. Total volume over the 24-hour window was 35,759,471.84, with notional turnover of approximately 7,097,595.94.

Structure and Key Levels

Price tested key support at 0.1965–0.1982 before reversing, suggesting 0.1974 may act as a short-term floor. A bearish divergence on the 5-minute chart between price and RSI at 0.203–0.205 raises caution.

Volatility and Momentum

Bollinger Bands showed contraction between 00:00 and 04:00 ET, followed by expansion as price moved between 0.1965 and 0.2006. The RSI bottomed near 28, suggesting potential for a short-term rebound, but momentum remains mixed with a MACD histogram near zero.

Volume and Turnover Signals

Volumes were elevated in the late ET morning session (14:00–17:00 ET), with turnover spiking around 0.2006–0.2027 as price rejected 0.203. This suggests increased participation but not necessarily strong directional conviction.

Fibonacci and Key Retracements

A 5-minute retracement from 0.1965 to 0.2078 identified 0.2017 as a key 50% level. Price briefly tested 0.2006 (38.2%) before rolling over, suggesting near-term range-bound behavior is likely.

The next 24 hours may see dYdX/Tether test the 0.1974–0.1982 support zone again. A break below 0.1965 could accelerate downward, but volume action suggests buyers may step in around 0.1965. Investors should remain cautious as momentum remains fragmented.