Market Overview: Powerledger/Tether (POWRUSDT)

• Price surged 34.3% over the last 24 hours, capped at 0.1466 on strong volume.
• Momentum accelerated from 0.1383 to 0.1466, with RSI near overbought territory.
• Volatility expanded sharply with Bollinger Bands widening post 09:00 ET.
• Volume spiked to 267k at 08:45 ET, confirming bullish breakout above prior highs.
• Key resistance at 0.1466 tested multiple times; support remains near 0.1453.

Opening Summary

Powerledger/Tether (POWRUSDT) opened at 0.1383 on 2025-09-30 12:00 ET and surged to a 24-hour high of 0.1466 before closing at 0.1456 at 12:00 ET. Total volume for the period amounted to 926,616.0 and turnover reached 134,160.26 USD. The price action reflected a strong bullish breakout with clear signs of follow-through buying, particularly after 08:45 ET.

Structure & Formations

Price formed a classic bullish continuation pattern with a strong break above the prior high of 0.1419. A key breakout candle at 08:45 ET capped the 24-hour high of 0.1451 with high volume, indicating strong conviction. Later in the day, a series of smaller consolidation candles indicated a pause in aggressive buying but kept prices above key psychological support levels. A long lower shadow at 09:30 ET and a bullish engulfing pattern at 18:15 ET provided confirmation of a sustained rally.

Support and Resistance

Key support levels include 0.1453, 0.1449, and 0.1435, all of which have acted as temporary floors during pullbacks. Resistance is currently focused at 0.1466, where price has struggled to close above on multiple occasions. A potential test of 0.1470 could be on the cards if the current momentum continues.

Moving Averages and MACD

On the 15-minute chart, the 20-period and 50-period moving averages are in bullish alignment, with price above both. The MACD line crossed above the signal line early in the session, confirming a bullish divergence. However, the histogram has begun to narrow, suggesting that while momentum is still positive, it may be losing steam. On the daily chart, the 50-day MA is below the 200-day MA, indicating a longer-term bearish bias.

RSI and Bollinger Bands

The RSI on the 15-minute chart reached 78, indicating overbought conditions and a potential correction in the near term. Price has tested the upper Bollinger Band multiple times, with a recent peak at 0.1466. The widening of the bands suggests a period of increased volatility, and a retest of the lower band at 0.1453 could trigger a pullback before resuming higher.

Volume and Turnover

Volume spiked dramatically at 08:45 ET (267,191.0), confirming the breakout above key resistance. The corresponding turnover of approximately 38,000 USD marked one of the highest notional values of the session. Later in the day, volume began to taper off despite price staying above key levels, indicating reduced conviction from aggressive buyers. Divergence between volume and price suggests a potential consolidation or short-term correction.

Fibonacci Retracements

On the 15-minute chart, price is currently consolidating near the 61.8% Fibonacci retracement level (0.1453) of the swing from 0.1377 to 0.1466. A break above 0.1466 would target the 78.6% level at approximately 0.1470. For the daily chart, the 38.2% level at 0.1425 has held as a key area multiple times, and a break below 0.1419 would likely test the 50% level at 0.1415.

Backtest Hypothesis

Given the formation of a bullish engulfing candle at 18:15 ET, confirmed by strong volume, and the subsequent follow-through buying at 08:45 ET, a backtest strategy could consider a long entry on a breakout above the prior high of 0.1419 with a stop-loss placed below 0.1405. A target of 0.1466 could be initially set, followed by a retest of the upper Bollinger Band at 0.1466 for further extension. This approach leverages a combination of pattern confirmation, volume validation, and volatility-based targets to manage risk and reward.