Market Overview: PONDUSDT (Marlin/Tether) on 2026-01-06

Summary
• PONDUSDT rose to 0.00439 at 01:30 ET, showing bullish momentum on strong volume.
• A bearish reversal pattern formed near 0.00431, hinting at resistance.
• Volatility spiked during the 24-hour window, with turnover reaching $142,716.79.
• Price tested a 50-period moving average on the 5-min chart, confirming upward bias.
• RSI approached overbought territory, suggesting potential pullback risk ahead.

At 12:00 ET on 2026-01-06, Marlin/Tether (PONDUSDT) opened at $0.00414, climbed to a high of $0.00439, and closed at $0.00427, with a low of $0.00413. Total volume reached 33,292,818.0 and notional turnover hit $142,716.79 over the 24-hour window.

Structure & Formations

Price advanced from a consolidation phase into a bullish breakout above key resistance at 0.00426–0.00431. A bearish engulfing pattern emerged at 01:30 ET as price fell from 0.00439 to 0.00431. The 50-period moving average on the 5-minute chart held as support during the early morning recovery.

Moving Averages and MACD

The 50-period MA (5-min) acted as a dynamic support level during the upward push. MACD showed positive divergence in the final hours before the 01:30 ET reversal, indicating waning bullish momentum. The daily 200-period MA remains below current levels, suggesting a potential continuation of the uptrend.

Volatility and Bollinger Bands

Volatility expanded significantly after 01:00 ET, with price breaking the upper Bollinger Band at 0.00439 before retreating. The widening bands indicate rising uncertainty and increased sensitivity to order flow.

RSI and Fibonacci Retracements

RSI reached 72 at 01:30 ET, nearing overbought territory and suggesting a possible short-term correction. A Fibonacci 61.8% retracement level at 0.00428 appears to be a key area to watch for consolidation.

Volume and Turnover

A massive volume spike of 32,955,967.0 at 01:30 ET accompanied the breakout to 0.00439, confirming the move. However, volume declined sharply after the reversal, hinting at potential short-term weakness.

PONDUSDT appears to be testing the strength of its recent rally. While the overall trend remains bullish, the bearish reversal at 0.00431 and overbought RSI raise the risk of a pullback. Investors should watch for a potential test of the 0.00425–0.00428 support range in the coming 24 hours, with caution advised around order book imbalances.