Market Overview for Phala Network/Tether (PHAUSDT) – 24-Hour Summary as of 2025-09-19

• Phala Network/Tether (PHAUSDT) rose to a 24-hour high of $0.1129 before consolidating near $0.1127.
• Strong volume expansion emerged between 03:45–04:00 ET, pushing price to a high of $0.1130.
• A bearish divergence in RSI and volume appears after 11:00 ET as price dipped below key support levels.
• Volatility increased sharply during the morning surge, with Bollinger Bands showing a clear widening.
• The 24-hour notional turnover surged to $119.8 million on elevated volume, indicating heightened interest.

Phala Network/Tether (PHAUSDT) opened at $0.1090 on 2025-09-18 at 12:00 ET and closed at $0.1110 on 2025-09-19 at the same time. The pair reached a high of $0.1130 and a low of $0.1082 over the 24-hour period. Total volume amounted to 208,064,000 PHA, and notional turnover reached approximately $22.8 million (calculated from volume × average price of $0.110).

Structure & Formations

Over the past 24 hours, Phala Network/Tether formed a strong bullish trend during the early morning hours, with a clear breakout above $0.1120. A key resistance zone emerged around $0.1130–0.1135, where price tested three times but failed to close above. The formation of a Bullish Engulfing candle at 03:45 ET confirmed the short-term bullish momentum. Later in the day, a Bearish Inverted Hammer developed around 05:45 ET, signaling potential exhaustion. Price then consolidated near $0.1110–0.1115, forming a Bearish Rectangle pattern that could either break downward or consolidate further.

Moving Averages

On the 15-minute chart, the 20-period moving average crossed above the 50-period line around 03:30 ET, confirming a short-term bullish bias. The 50-period line, however, started to slope downward after 06:00 ET, indicating weakening momentum. On the daily chart, the 50-period MA is above the 100-period and 200-period lines, which supports a mildly bullish outlook for the broader trend, though the 200-period MA remains as a potential long-term support level.

MACD & RSI

The MACD remained positive from 03:00–07:00 ET, with a strong bullish crossover confirming the morning’s rally. However, the histogram began to contract by 08:00 ET, hinting at weakening momentum. The RSI surged into overbought territory above 70 during the morning high and later dipped below 50 as the pair corrected. A bearish divergence appeared after 11:00 ET, with price rising while RSI declined, suggesting potential for a pullback.

Bollinger Bands

Bollinger Bands expanded sharply during the early morning rally, reflecting increased volatility and trader interest. Price remained within the upper band for several hours before retreating and closing near the middle band. The narrowing of the bands after 09:00 ET may indicate a potential for another breakout or consolidation.

Volume & Turnover

Volume spiked dramatically between 03:45–05:45 ET, peaking at over 7.7 million PHA in a single 15-minute interval. This was mirrored by a large notional turnover spike during the same period. However, after 11:00 ET, both volume and turnover began to decline, with price continuing to fall despite the reduction in trading activity. This divergence could signal a weakening of the bullish thesis.

Fibonacci Retracements

Applying Fibonacci retracement to the recent swing high of $0.1130 and low of $0.1082, key levels to watch include:- 38.2% retracement at $0.1108- 50% retracement at $0.1106- 61.8% retracement at $0.1104

The price has been consolidating near the 61.8% level since midday, suggesting potential for a short-term bounce or a test of the 50% level. A break below $0.1104 would target $0.1090 as the next major support.

Looking ahead, the near-term trajectory may hinge on whether Phala Network/Tether can hold above $0.1104. A sustained break below that level may open the door to a retest of the $0.1090–0.1082 range, while a rebound above $0.1120 could signal renewed bullish intent. Investors should remain cautious of bearish divergences in momentum indicators and watch for confirmation from volume and price action.

Backtest Hypothesis

The proposed backtest strategy suggests using a MACD crossover combined with RSI divergence to identify potential reversal points in Phala Network/Tether. Specifically, a long entry could be triggered when the MACD crosses above zero and RSI shows a bullish divergence (i.e., price makes a lower low while RSI makes a higher low). A short entry would trigger when MACD crosses below zero and RSI shows a bearish divergence. This strategy could be tested over the past 24 hours, as a long entry around 03:45 ET aligns with the observed MACD and RSI signals. A short entry after 11:00 ET could also be valid if the strategy accounts for bearish divergence.