Market Overview for Powerledger/Tether (POWRUSDT)

Summary
• Price declined from $0.0987 to $0.0924 amid bearish momentum.
• RSI and MACD signal oversold conditions near $0.0930.
• Volatility remains elevated with a 24-hour turnover of $10.12 million.

Powerledger/Tether (POWRUSDT) opened at $0.0982 on 2025-11-03 at 12:00 ET, reached a high of $0.1004, and fell to a low of $0.0919 before closing at $0.0936 on 2025-11-04 at 12:00 ET. Total volume was 3.47 million, with a 24-hour turnover of $10.12 million, indicating significant trading interest amid a downtrend.

Structure & Formations

Price formed a bearish breakdown below a key support level near $0.0960, failing to recover in subsequent sessions. A series of bearish engulfing patterns and long lower wicks between $0.0960 and $0.0945 suggest ongoing selling pressure. A key support now appears around $0.0930, with a potential reversal formation emerging as prices hover near that level.

Moving Averages

The 20- and 50-period moving averages on the 15-minute chart are in a steep downward trend, reinforcing the bearish bias. On a daily basis, the 50-day moving average is near $0.0975, while the 100- and 200-day lines sit above it, indicating a longer-term downtrend is in place. A potential short-term bounce could test the 50-period line but is unlikely to reverse the broader trend without a sustained break above $0.0950.

MACD & RSI

The 15-minute MACD is negative and contracting, suggesting a slowdown in bearish momentum, while the RSI has entered oversold territory near 30. This indicates a potential short-term bounce may be in the cards, but the overall trend remains bearish unless RSI retests and closes above 50 with strong volume.

Bollinger Bands

Volatility has expanded in recent hours, with prices moving toward the lower band of the Bollinger Bands on both 15-minute and daily timeframes. A move above the midline of the bands would signal a possible reversal, but the upper band remains above $0.0970, a level that would need to be cleared for a full bullish reversal to be considered.

Volume & Turnover

Volume surged in the early hours of the session, particularly around $0.0960–$0.0950, coinciding with a sharp decline. However, volume has since diminished near $0.0930–$0.0940, indicating a lack of conviction in the sell-off. This divergence may suggest a potential short-term bounce, though without a volume pickup on the rebound, it could remain range-bound.

Fibonacci Retracements

Recent 15-minute swings show that the 61.8% retracement level of the last bearish leg is at $0.0940–$0.0950, a key area where buyers may step in. On the daily chart, the 38.2% retracement of the larger decline is at $0.0965, offering a potential hurdle to further downward movement.

Backtest Hypothesis

A potential backtesting strategy could build on the overbought/oversold signals observed here. Using a 14-day RSI, an entry could be triggered when RSI rises above 70, and an exit when it crosses below 50. Given the current RSI of around 30, this strategy would remain in cash until a recovery. However, the recent divergence in volume and price action suggests a modified approach—perhaps including a stop-loss at $0.0920—might improve risk-adjusted returns in this highly volatile pair.