Market Overview for Polkadot/Tether (DOTUSDT)

Summary
• Price opened at $2.161, fell to $2.110, and closed near $2.072 amid increased bearish momentum.
• A sharp 5.5% drop in the last 24 hours highlights a key 61.8% Fibonacci retracement level at $2.120 as potential resistance.
• Notional turnover rose to $718k at 17:00 ET, but price continued lower, showing divergence.
• RSI dropped below 30, suggesting oversold conditions, though a reversal is not confirmed.
• Volatility expanded as Bollinger Bands widened, reflecting heightened uncertainty and range-bound pressure.

Polkadot/Tether (DOTUSDT) opened at $2.161 on 2026-01-15 at 12:00 ET, reaching a high of $2.173 and a low of $2.062 before closing at $2.072 at 12:00 ET on 2026-01-16. The 24-hour volume totaled 346,089.25 DOT, with a notional turnover of $718,927.04.

Structure and Key Levels

The pair formed a bearish continuation pattern after breaking below the 2.110 psychological support level. A 5-minute chart showed a 61.8% Fibonacci retracement at $2.120 acting as a key resistance level, while support appears to be consolidating near $2.072. A large bearish engulfing pattern formed around the 16:30 candle, confirming a short-term reversal in sentiment.

Moving Averages and Momentum

On the 5-minute chart, price closed below both the 20 and 50-period moving averages, reinforcing a short-term bearish bias. The daily chart shows the 50-period MA at $2.13, 100-period at $2.15, and 200-period at $2.16, indicating a broader bearish trend. The MACD turned negative early in the session and has remained bearish. RSI dipped below 30, suggesting potential oversold conditions, but a bullish reversal has yet to be confirmed.

Volatility and Divergence

Bollinger Bands expanded significantly in the 16:30–17:00 ET window, reflecting heightened volatility. Price closed near the lower band at $2.072, signaling short-term exhaustion but not yet a reversal. Volume and turnover spiked at the end of the 24-hour window, but the price continued downward, indicating a divergence and bearish continuation risk.

The market appears to be in a short-term bearish phase with a potential retest of $2.070–2.062 likely. Investors should watch for a decisive break above $2.120 for a possible rebound. However, a continuation below $2.070 could bring further downside, especially with low RSI and bearish momentum signals.