Market Overview for Phala Network/Tether (PHAUSDT) – October 13, 2025

• PHAUSDT rose from $0.0711 to $0.074 at 12:00 ET, with a 24-hour high of $0.0756 and total volume of 6.18M PHA
• Price consolidated near 74.5 cents, with key resistance at 74.7 and support near 73.1 in early trading
• Momentum shifted multiple times during the day, with a late rally pushing price past 0.075 and triggering renewed buying
• Bollinger Bands widened late, reflecting increased volatility, while RSI approached overbought territory near 70
• Turnover surged during the final 3 hours, suggesting active participation ahead of potential trend continuation

At 12:00 ET on October 13, 2025, Phala Network/Tether (PHAUSDT) opened at $0.0711 and closed at $0.0734, reaching a high of $0.0756 and a low of $0.0706 during the 24-hour period. Total trading volume was 6.18 million PHA, with turnover amounting to approximately $453,000. The price exhibited a moderate bullish bias, forming a bullish continuation pattern during the late hours of the session.

The structure of the 15-minute candles shows a series of higher lows and higher highs emerging in the final 6 hours of the 24-hour period. A significant bullish engulfing pattern formed at 07:30 ET, confirming a short-term reversal after earlier bearish consolidation. Additionally, a small doji appeared near 11:15 ET, signaling potential indecision ahead of a key breakout. Support levels at $0.0731–$0.0735 and resistance near $0.0745–$0.0749 were tested multiple times, with the price failing to sustain above the 0.0751 level.

Fibonacci retracement levels applied to the recent 6-hour swing (from 0.0722 to 0.0751) highlight key levels at 0.0740 (61.8%) and 0.0733 (38.2%). Price consolidation in this area suggests that traders may be positioning for a potential breakout or reversal. Bollinger Bands expanded sharply after 13:45 ET, with the price bouncing off the upper band and narrowing again in the final hours. This suggests a shift from high volatility to consolidation. The 20-period and 50-period moving averages on the 15-minute chart have begun to converge, with the 20-period line crossing above the 50-period, forming a potential short-term bullish signal.

MACD turned positive around 05:00 ET and remained in the positive territory for the remainder of the session, indicating sustained bullish momentum. RSI climbed steadily during the late hours, reaching near 70 at 16:00 ET, indicating potential overbought conditions and suggesting that a near-term pullback could be due. The volume profile showed a sharp increase between 13:45 ET and 15:00 ET, coinciding with the price breakout above the 0.074 level. This surge in volume suggests strong conviction behind the move. However, the price failed to close above 0.0751, and turnover declined afterward, raising questions about the sustainability of the rally.

Backtest Hypothesis

The proposed backtest strategy seeks to identify RSI overbought signals (RSI ≥ 70) on a daily basis for PHAUSDT and open a long position at the close of such a day, exiting at the following day’s close. However, our data system cannot process the RSI series for the symbol PHAUSDT due to a missing or mismatched ticker in our asset database. To proceed, we need the exact ticker format, such as BINANCE:PHAUSDT or PHAUSDT.BINANCE, to ensure compatibility with the system’s naming conventions. Once we have the correct ticker, we can derive the RSI values from the price data or directly access the precomputed indicator. This will allow us to backtest the strategy over the period from January 1, 2022, to today (October 13, 2025), calculating key performance metrics like total return, annualized returns, Sharpe ratio, and equity curve. If the RSI data is unavailable, a manual workaround using the OHLCV data provided may also be feasible. Please confirm the correct ticker or provide the RSI data directly for further analysis.