Market Overview: Pax Dollar/Tether (USDP/USDT) 24-Hour Analysis

Summary• USDP/USDT traded in a tight 1.0–1.0003 range, showing minimal volatility and no clear direction.• Volume was low for most of the day, but surged briefly near the end of the session.• A sharp pullback to 1.0 in the overnight session followed by a modest rebound suggests potential support.

The Pax Dollar/Tether (USDP/USDT) pair opened at 1.0003 on 2025-11-10 at 12:00 ET and remained largely unchanged throughout much of the session, touching a high of 1.0003 and a low of 1.0 before closing at 1.0001 on 2025-11-11 at 12:00 ET. The total volume for the 24-hour period was 145,028.0, while notional turnover amounted to 145,028.0. Price remained compressed within a narrow band, suggesting minimal market activity and uncertainty.

Structure & Formations

Price action on the 15-minute chart revealed a highly range-bound market throughout the day, with no significant breakout or reversal patterns. A key support level was identified at 1.0, where the pair spent a large portion of the session. A small bearish engulfing pattern appeared at 22:45 ET as the pair dropped from 1.0001 to 1.0, indicating a temporary shift in sentiment. However, no strong reversal or continuation patterns formed, signaling indecision among traders.

Moving Averages

Short-term moving averages (20/50-period) on the 15-minute chart remained flat and overlapping, confirming the lack of directional bias. On the daily chart, the 50/100/200-period averages also remained closely aligned, suggesting that the pair is in a neutral consolidation phase with no immediate trend developing.

MACD & RSI

The MACD remained flat and near the zero line throughout the session, consistent with the sideways action. RSI hovered around 50, indicating a balanced market with neither overbought nor oversold conditions. A brief dip in RSI below 40 occurred during the overnight drop to 1.0, but it quickly rebounded, failing to confirm a strong bearish signal.

Bollinger Bands

Bollinger Bands showed minimal expansion or contraction over the past 24 hours, with price staying within the band and avoiding extreme volatility. The width of the bands remained narrow, suggesting low volatility and no imminent breakout. As price remained near the center of the band, no clear directional bias was evident.

Volume & Turnover

Volume remained subdued for the majority of the session, with occasional spikes such as the 11,600.0 at 9:30 ET and the 69,491.0 at 13:45 ET. These spikes coincided with minor price movements, but the lack of sustained volume suggested limited conviction in any direction. Turnover mirrored volume, with most trading activity concentrated in the late morning and early afternoon.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from 1.0003 to 1.0 showed that the pair found support at the 61.8% level (1.0001) after its drop to 1.0. This suggests that traders may treat 1.0001 as a key support level in the short term. No strong Fibonacci levels were identified on the daily chart due to the minimal price movement.

Backtest Hypothesis

Given the limitations in fetching RSI data for the ticker “HOLD.P,” a backtest strategy for the Harbor Alpha Layering ETF could not be executed. For clarity, the correct ticker symbol for the ETF is required to ensure access to the necessary metrics. Once confirmed, an oversold-to-overbought RSI backtest could be applied from 2022-01-01 to today, evaluating entry and exit points based on RSI divergence and momentum shifts. Integrating this strategy would complement the current USDP/USDT analysis by benchmarking range-bound behavior against more active, trend-following assets.