Market Overview for Polkadot/Tether (DOTUSDT) – 24-Hour Analysis

Summary
• Price tested key resistance at $2.12, failed to hold, and declined to $2.084 amid increasing bearish momentum.
• RSI and MACD indicated overbought conditions earlier, followed by bearish divergence as price fell.
• Volatility expanded with strong volume surges during the afternoon, signaling potential trend acceleration.
• A bearish engulfing pattern emerged at 16:00 ET, confirming downward momentum.
• Price is now consolidating near 20-period MA with a bearish bias, possibly targeting $2.07 support next.

Market Overview

DOTUSDT opened at $2.112 on 2026-01-10 at 12:00 ET and reached a high of $2.13 before declining to a low of $2.07 on 2026-01-11 at 12:00 ET. The 24-hour volume totaled 1,407,152.17 and turnover was $2,957,674.47.

Structure and Candlestick Patterns

Price formed a bearish engulfing pattern at 16:00 ET as it broke through $2.10, confirming a shift in sentiment. Key support levels emerged at $2.09 and $2.084, with $2.07 as the next critical level. Resistance levels were identified at $2.11 and $2.12.

Volume and Turnover Analysis

Volume surged significantly during the afternoon and early evening as price declined, confirming bearish momentum. Turnover also spiked during this period, supporting the strength of the downward move.

MACD and RSI Signals

RSI reached overbought territory early in the session but quickly reversed into oversold territory, signaling exhaustion in bullish momentum. MACD turned negative, reinforcing the bearish trend.

Bollinger Band Dynamics

Price broke below the lower Bollinger Band near $2.084, indicating heightened volatility and a possible continuation of the downward move.

Fibonacci Retracements

Price retested the 61.8% Fibonacci retracement level at $2.09 before breaking down further. The 38.2% level at $2.11 served as a temporary resistance during the morning bounce.

Looking ahead, price may test the $2.07 level, with a break below this threshold suggesting further downside potential. Investors should remain cautious of bearish momentum and monitor volume to confirm any reversal signals.