Summary
• Polkadot/Tether (DOTUSDT) declined intraday after a morning rally, closing near 1.881.
• Key support at 1.875 and resistance at 1.890 shaped price action amid moderate volume.
• RSI neutrality and narrowing Bollinger Bands suggest a potential consolidation phase.
24-Hour Snapshot
Polkadot/Tether (DOTUSDT) opened at 1.91 and traded between 1.891 and 1.870 over the last 24 hours, closing at 1.881 near the session low. Total volume reached 1,850,752.2 units, with notional turnover of approximately 3,481,541.12. The pair appears to be entering a lower-volatility phase as momentum indicators remain neutral and key support levels are holding.
Structure and Key Levels
On the 5-minute chart, DOTUSDT showed a morning rally with a bullish engulfing pattern forming around 05:30 ET. However, bearish pressure returned after 07:00 ET, with price falling below the 1.885 level, a prior pivot. A descending triangle is forming near 1.890, which appears as a potential resistance. The 1.875 level has held as a key support multiple times, suggesting a possible short-term floor.
Moving Averages and Momentum
The 20- and 50-period moving averages on the 5-minute chart are converging lower, reinforcing the bearish bias. Daily moving averages are neutral to slightly bearish. RSI remains in neutral territory, indicating no overbought or oversold conditions. MACD shows a flattening histogram, pointing to waning momentum in both directions.
Volatility and Volume
Bollinger Bands have been contracting since midday, indicating a decrease in volatility. Price is currently hovering near the lower band, suggesting caution. Volume has declined from a peak in the early morning, and while turnover remains steady, it has not confirmed a strong breakout or breakdown. Divergences are not evident at this stage.
Fibonacci Retracements
Fib levels on the morning rally (1.872 to 1.896) show price testing the 61.8% retraction at 1.885, which failed. The 50% level at 1.884 is now a near-term pivot. On the daily chart, the 61.8% retracement of recent bearish moves sits at 1.875, which has shown repeated support.
Looking ahead, traders may watch for a break above 1.890 to signal a potential resumption of the morning rally. However, given the current price proximity to 1.875, a pullback or sideways consolidation appears likely. Investors should remain cautious, as volatility could pick up if key levels are decisively broken.
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