Summary
• Polkadot/Tether tested key resistance at $2.00, breaking it briefly before consolidating.
• RSI shows moderate momentum with no clear overbought or oversold signals.
• Bollinger Bands widen during late ET hours, indicating rising volatility.
• Volume spiked above 500k during the pullback, confirming bearish pressure.
• A bullish engulfing pattern appears near $1.99, suggesting short-term reversal potential.
Market Overview
Polkadot/Tether (DOTUSDT) opened at $1.995 on 2025-12-14 at 12:00 ET, reached a high of $2.008, a low of $1.852, and closed at $1.868 by 12:00 ET-1 on 2025-12-15. The 24-hour volume was 15,083,150.01, and notional turnover was approximately $28.7M.
Structure & Formations
The pair tested a key resistance at $2.00 three times, with mixed results. A break above that level failed to hold, suggesting internal bearish pressure.
A bullish engulfing pattern formed near $1.99, hinting at potential short-term reversal. On the downside, $1.95 and $1.90 are emerging as key support levels.
Moving Averages
On the 5-minute chart, the 20SMA and 50SMA crossed near $1.98, forming a bearish crossover that aligns with the recent pullback. The 200SMA on the daily chart currently sits above $1.97, indicating that the pair is trading below its longer-term average.
MACD & RSI
The MACD line crossed into negative territory during the afternoon ET sell-off, reinforcing bearish momentum. RSI remained in the mid-40s most of the day, showing neutral but slightly bearish bias. No clear overbought or oversold levels were triggered.
Bollinger Bands
Bollinger Bands expanded significantly during the afternoon ET pullback, reflecting heightened volatility. Price action spent much of the session outside the upper and lower bands, indicating a strong directional move.
Volume & Turnover
Volume spiked to over 878k and 623k on the two largest downlegs, confirming bearish conviction. However, a smaller bullish volume bar near $1.99 suggests some short-covering or accumulation may be occurring.
Fibonacci Retracements
A recent 5-minute swing from $1.852 to $2.008 saw price retrace to 61.8% at around $1.94, which appears to have held as a key level. Daily retracements from the prior month’s range suggest $1.90 and $1.80 as potential longer-term support.
Price appears to be entering a consolidation phase following the sharp sell-off. A test of $1.90 may be imminent, with a breakout above $2.00 offering a potential reversal sign. Investors should remain cautious as volatility remains high and directional bias is unclear.
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