Market Overview for Perpetual Protocol/Tether (PERPUSDT): 24-Hour Summary

• Price rose from 0.2199 to 0.2251 within 24 hours, with a high of 0.2254 and low of 0.2189
• Momentum strengthened after 19:00 ET, as confirmed by rising volume and positive RSI divergence
• Volatility increased with a ~2.1% price swing, suggesting heightened market participation
• Volume surged to 45,614.00 during the last 15-minute period, aligning with a bullish breakout pattern
• Key resistance appears to be forming near 0.2250–0.2260, with potential for a pullback or consolidation

Perpetual Protocol/Tether (PERPUSDT) opened at 0.2199 on 2025-10-25 at 12:00 ET, reached a high of 0.2254, a low of 0.2189, and closed at 0.2251 on 2025-10-26 at 12:00 ET. The 24-hour total volume was 339,381.46, and the turnover amounted to $72,108.36. The price action reflects a bullish bias with increasing participation late in the session.

Structure & Formations

The price of PERPUSDT displayed a bullish reversal pattern late on October 25, with a strong upward shift forming above the 0.2200 psychological level. A key bullish engulfing pattern appeared around 19:30–19:45 ET, confirming a shift in sentiment. Price action has since broken above a recent consolidation range between 0.2200–0.2220, indicating a potential continuation of the bullish trend. A critical resistance cluster now forms near 0.2250–0.2260, with the 61.8% Fibonacci retracement level of the October 25 swing aligning closely with this area. A break above would suggest a retesting of 0.2280 as the next target. On the downside, 0.2215–0.2220 appears to be a strong support zone, especially as volume increased during pullbacks.

Moving Averages and Momentum Indicators

On the 15-minute chart, the 20-period moving average crossed above the 50-period line in the late hours of October 25, forming a potential golden cross. This reinforces the bullish momentum seen in the last 6 hours of the 24-hour period. The 50-period moving average on the daily chart also crossed above the 100-period line earlier in the week, suggesting a longer-term bullish trend. The MACD turned positive after 19:00 ET and remained above the signal line, supporting the view that upward momentum is accelerating. Meanwhile, the RSI rose from 47 at 16:00 ET to 62 by 21:30 ET, indicating strengthening bullish momentum without yet entering overbought territory.

Bollinger Bands and Volatility

Volatility expanded significantly during the last 12 hours, with the price moving beyond the upper Bollinger Band between 20:00–21:45 ET, confirming a breakout phase. At the end of the 24-hour period, PERPUSDT was trading near the upper Bollinger Band, suggesting heightened bullish momentum. A contraction in the bands is expected as the price consolidates above the 0.2250 level, potentially setting up for the next move. The recent volatility surge is likely to remain for the next 24 hours as traders test the 0.2250–0.2260 resistance cluster.

Volume and Turnover

Volume and turnover both spiked during the final 4 hours of the 24-hour period, with the largest 15-minute volume (45,614.00) and turnover ($10,167.08) occurring at 13:00–13:15 ET, coinciding with a breakout from the 0.2230–0.2240 range. The increase in volume is supportive of the bullish move, and the absence of price-volume divergence suggests the trend remains healthy. As the price rises, turnover appears to increase, reinforcing the strength of the recent upward move.

Fibonacci Retracements

Applying Fibonacci levels to the October 25 swing (0.2189–0.2254), the 61.8% retracement level is near 0.2225, which aligns with a recent support zone. A break above 0.2254 would suggest a retest of the 0.2280 level, with the 78.6% retracement sitting at that level. On the downside, a pullback to 0.2215–0.2220 (the 38.2% retracement) is a likely scenario, which could either consolidate or trigger a re-test of the bullish pattern if volume remains strong.

Backtest Hypothesis

Given the recent bullish pattern and volume confirmation observed in PERPUSDT, a backtest strategy based on Bullish Engulfing patterns could be tested using raw OHLC data. The pattern typically signals a short-term reversal, and if confirmed by increasing volume and a break above a defined support level (e.g., 0.2200), it could serve as a high-probability entry point. A possible backtest would involve scanning for Bullish Engulfing patterns on the 15-minute chart, filtering for increasing volume, and entering a long position at the close of the engulfing candle with a stop-loss below the engulfing candle's low. A take-profit target could be placed at the 61.8% Fibonacci extension of the engulfing pattern. Given the current price action, such a strategy could be tested with historical PERPUSDT data from the past 30 days to evaluate its robustness and adaptability to current volatility.