Market Overview for Phala Network/Tether (PHAUSDT)

Summary
• PHAUSDT consolidates near 0.0394, forming multiple reversal patterns after a sharp selloff.
• Volume spikes and retracements suggest short-term uncertainty, with 0.0396 and 0.0390 as key levels.
• RSI and MACD signal weakening bear momentum, hinting at potential short-term stabilization.

At 12:00 ET–1 on 2026-01-05, Phala Network/Tether (PHAUSDT) opened at 0.0396, hit a high of 0.0401, a low of 0.0386, and closed at 0.0390 at 12:00 ET today. Total 24-hour volume was 6,127,330, with a notional turnover of 238,942.62 USD.

Structure & Formations

The 24-hour chart shows a distinct bearish selloff after 04:30 ET, breaking below key psychological support at 0.0390. However, a series of bullish reversal patterns (e.g., doji, hammer-like forms) emerged after the 05:00 ET low, suggesting short-term accumulation. The price remains in a descending channel, with 0.0396 as immediate resistance and 0.0390 as critical support.

Moving Averages

On the 5-minute chart, price has spent much of the session below the 20 and 50-period SMAs, reinforcing the bearish bias. The daily chart shows a cross of the 50-period over the 100-period, indicating intermediate-term weakening.

MACD & RSI

MACD lines have trended downward but show signs of stabilizing in the last 2 hours, hinting at potential short-term equilibrium. RSI has dipped into oversold territory (below 30) in the morning session, suggesting a risk of a bounce, though not necessarily a reversal.

Bollinger Bands

Volatility has expanded after the sharp drop, with price bouncing off the lower band for multiple sessions. The last few candles have retested the midline, indicating a possible short-term mean reversion.

Volume & Turnover

Volume spiked during the early morning selloff, with turnover peaking at 13,583.89 USD during the 06:00 ET–06:15 ET window. However, volume has since declined, suggesting a slowdown in bear momentum. Price and volume appear to be aligning in a short-term trough formation.

Fibonacci Retracements

Applying Fibonacci to the recent 0.0401–0.0386 move, key levels at 0.0392 (38.2%) and 0.0390 (61.8%) have been tested multiple times. The price’s current consolidation near 0.0390 may test the strength of this level as a potential short-term floor.

Price could stabilize near current levels if 0.0390 holds, but risks a further drop if this support fails. Investors should closely monitor volume during any test of key levels to gauge the likelihood of a bounce or continuation of the downward drift.