Market Overview: Paris Saint-Germain Fan Token/Tether (PSGUSDT) – 2025-10-09

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• The Paris Saint-Germain Fan Token (PSGUSDT) closed near the 24-hour low, with bearish momentum visible in waning RSI and contracting Bollinger Bands.
• Volume was concentrated in late-night selloffs, with turnover confirming price weakness in the 08:00–12:00 ET window.
• Key support at 1.496–1.491 and resistance at 1.501–1.506 were tested multiple times, suggesting potential for short-term consolidation.
• A bearish engulfing pattern and a hanging man formed around 1.501–1.498, signaling caution for near-term buyers.
• The RSI dipped into oversold territory near 1.490, but volume failed to confirm a strong rebound.

Paris Saint-Germain Fan Token/Tether (PSGUSDT) opened at 1.508 at 12:00 ET−1, reached a high of 1.527, and closed at 1.491 by 12:00 ET on 2025-10-09. The 24-hour session recorded a total volume of 143,994.35 and turnover of 216,268.94, with bearish price action dominating the latter half.

Over the past day, PSGUSDT exhibited a clear downward bias, marked by a sharp pullback from 1.525 to 1.490, where multiple support levels were tested. The 20-period and 50-period moving averages on the 15-minute chart both trended lower, aligning with the prevailing bearish trend. Daily 50, 100, and 200-period MAs also showed a bearish slope, reinforcing the idea of a medium-term downtrend. The 15-minute MACD turned negative, while the RSI hit 30, hinting at oversold conditions but with no strong reversal confirmation from volume.

Bollinger Bands contracted significantly in the early hours, leading to a volatility breakout that confirmed the bearish bias. Price spent much of the day inside the lower half of the bands, suggesting continued pressure. Notable Fibonacci retracements at 38.2% (1.512) and 61.8% (1.501) were tested, with the 61.8% level breaking decisively as resistance turned support. The 1.496–1.491 range now appears to be the key short-term floor.

A bearish engulfing pattern developed in the 08:30–09:15 ET timeframe as price fell from 1.503 to 1.490 on strong volume. This was followed by a hanging man at 1.498 and a bullish harami at 1.490–1.491, hinting at potential short-term reversal. The RSI has bounced off the 30-level but remains within a 30–45 range, indicating subdued buying pressure. Volume in the 08:00–12:00 ET period was notably higher, confirming the selloff.

Backtest Hypothesis
Given the bearish engulfing pattern and a strong volume-confirmed pullback below the 61.8% Fibonacci retracement, a potential short trade could be initiated at 1.496 with a stop-loss above the 1.502 resistance level and a target at 1.485–1.483. A trailing stop at 1.491 may also be employed if the price shows signs of rebounding. This strategy would aim to capitalize on the continuation of the bearish momentum while managing risk through tight stop levels and volume confirmation of key price breaks.