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Summary
• Price declined from 1.88 to 1.829 with strong bearish momentum observed mid-day.
• Key resistance at 1.86–1.88 tested multiple times, while 1.84–1.85 acted as support.
• Volume surged during downward move, confirming bearish sentiment.
• RSI hit oversold territory near close, hinting at potential near-term bounce.
• Bollinger Bands widened during early decline, suggesting increased volatility.
Polkadot/Tether (DOTUSDT) opened at 1.875 on 2025-12-28 at 12:00 ET and closed at 1.848 on 2025-12-29 at 12:00 ET. The 24-hour range was 1.882 (high) to 1.824 (low). Total volume was 3,045,005.9 and turnover reached 5,594,064.11.
The price action showed a clear bearish bias throughout the session, with a sharp sell-off occurring around 19:00–20:00 ET. Key resistance levels between 1.86 and 1.88 were repeatedly tested, but buying interest failed to hold, leading to a breakdown to 1.824. Support was noted in the 1.84–1.85 range, which saw consolidation during the latter part of the day.
On the technical indicators, The 5-minute RSI dipped into oversold territory near the close, which may signal a potential short-term reversal or consolidation. MACD showed bearish divergence during the mid-day decline but flattened out toward the end, suggesting momentum may be exhausting.
Bollinger Bands expanded during the initial drop, indicating rising volatility, while the price settled closer to the lower band by the close. The 5-minute 20-period and 50-period moving averages were both below price, reinforcing the bearish bias.
Volume and turnover spiked during the decline, with a clear alignment between bearish price movement and increased trading activity. Divergences between price and volume were minimal, offering confirmation rather than contradiction of the move.
Fibonacci retracement levels drawn from the 1.824 low to the 1.899 high highlighted key psychological levels at 1.872 (61.8%) and 1.854 (38.2%), both of which were tested but not sustained.
Going forward, a test of the 1.84–1.85 support cluster is likely to remain critical. A break below that could push toward 1.82 or even 1.80. Conversely, a reversal above 1.86 would suggest a possible bounce. Traders should remain cautious of potential volatility, especially if volume rises again with a clear directional bias.
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