Market Overview for Powerledger/Tether (POWRUSDT): 24-Hour Movement and Technical Highlights

• Powerledger/Tether (POWRUSDT) surged to a 24-hour high of $0.1458 before retreating to close near $0.1448.
• A bullish breakout attempt failed after a sharp volume spike around $0.1451, hinting at partial rejection.
• RSI showed overbought conditions at the peak, while volatility expanded during the afternoon rally.
• Bollinger Bands widened as price pushed higher, indicating increased market uncertainty.
• Volume was uneven, with a sharp sell-off in late ET hours signaling potential short-term profit-taking.

Powerledger/Tether (POWRUSDT) opened at $0.1392 on 2025-10-09 12:00 ET and closed at $0.1448 by 2025-10-10 12:00 ET. The pair reached a high of $0.1460 and fell to a low of $0.1374. Total trading volume across the 24-hour period was 1,705,676.8 and notional turnover stood at $247,210. The price action reflects a late-morning rally and afternoon consolidation.

The 15-minute chart shows a strong bullish reversal in the late morning, with a 1.7% gain in a single candle. A long upper shadow at $0.1458 and a large bearish reversal candle in the early afternoon suggest indecision at the top. On the 20-period and 50-period moving averages, the price broke above the 20SMA but failed to maintain the 50SMA level, hinting at potential profit-taking or a bearish retest.

A notable doji appeared at $0.1452 during the afternoon, indicating a pause in the upward momentum. RSI reached 72 at the peak and has since declined to 58, suggesting a potential pullback or consolidation phase. MACD crossed above the signal line earlier in the day but has since flattened, signaling weakening upward momentum. The price briefly tested the upper Bollinger Band, expanding the band width from 0.0015 to 0.0054, suggesting increased volatility.

Fibonacci levels show a key 61.8% retracement at $0.1419, which was a minor support during the pullback, and a 38.2% retracement at $0.1451, where volume spiked and the price stalled. This suggests that $0.1451 could act as a dynamic resistance in the near term. A close above $0.1460 would invalidate the bearish doji formation and open the door for a test of the 20SMA at $0.1456.

Backtest Hypothesis: The price behavior on the 15-minute chart aligns with a potential long setup using a bullish engulfing candle pattern followed by a retest of the high, as seen in the morning rally. A confirmed close above the high of the bullish candle at $0.1452 could serve as a potential entry trigger. The backtesting strategy suggests taking a long position on a breakout above this level with a stop-loss below the doji's low at $0.1443. A target is placed at the next resistance, the 20SMA at $0.1456, with an exit at $0.1460 if bullish momentum is confirmed.