Market Overview: Pax Dollar/Tether (USDPUSDT) on 2026-01-03

Summary
• Price remained range-bound near 1.0007–1.0008, with a final close at 1.0009.
• Volatility dipped during inactive hours but spiked briefly after 1:00 AM ET.
• Turnover surged during the 1:00 AM–1:30 AM ET window, confirming a small bullish thrust.

At 12:00 ET on 2026-01-02, the 24-hour session for Pax Dollar/Tether (USDPUSDT) opened at 1.0006, reached a high of 1.001, a low of 1.0006, and closed at 1.0009. Total volume traded was 18,698.0, with a notional turnover of approximately 18,707.34.

Structure & Formations

Price remained tightly clustered around the 1.0007–1.0008 range for most of the session, with a few attempts to break above. A bullish engulfing pattern formed at 01:00 AM ET as price rose from 1.0007 to 1.001, signaling potential short-term momentum. A doji appeared at 01:45 AM ET near 1.0009, suggesting indecision.

Moving Averages

The 20-period and 50-period moving averages on the 5-minute chart remained closely aligned near 1.0007–1.0008, indicating range-bound conditions. Longer-term averages (e.g., 50-period daily) would also remain near 1.0007, confirming the pair’s tight peg.

MACD & RSI

The MACD showed a narrowing histogram early in the session but a small positive bar at 01:00 AM ET, supporting the bullish engulfing pattern. RSI reached 52–55 during the rally, avoiding overbought territory. This suggests a tentative accumulation phase.

Bollinger Bands

Price action remained within the bands for most of the session, with a slight move toward the upper band at 01:00 AM. Volatility expanded during this period, reflecting the brief breakout.

Volume & Turnover

Volume increased significantly at 01:00 AM ET, confirming the 1.001 close. Turnover mirrored the volume spike, indicating that the move was backed by real trading activity rather than thin liquidity. The majority of the session, however, saw minimal volume and turnover, typical of a stable stablecoin pairing.

Visual

Fibonacci Retracements

Applying Fibonacci to the 01:00–02:00 AM swing, 1.0008 marked the 38.2% level, and 1.001 aligned with 61.8%, suggesting a possible short-term ceiling. The price may retest the 1.0009–1.001 range if volatility picks up.

Looking ahead, traders should watch for a potential push above 1.001 or a rejection at 1.0008, which could signal directional bias. As with any stablecoin pairing, sudden macro events could disrupt the peg.