Market Overview: Powerledger/Tether (POWRUSDT) Daily Review

Summary
• Price action formed a bullish harami at 09:45 ET, hinting at potential consolidation.
• RSI approached overbought territory late afternoon, signaling potential pullback risk.
• Bollinger Band contraction around 05:30 ET suggests increased volatility ahead.
• Turnover spiked at 23:00 ET, confirming a strong break above key resistance at $0.0972.
• Volume remained above average throughout the session, supporting trend continuity.

Market Overview

Powerledger/Tether (POWRUSDT) opened at $0.0954 on 2026-01-08 12:00 ET, reached a high of $0.0986, and closed at $0.096 at 2026-01-09 12:00 ET, with a low of $0.0943. The 24-hour volume amounted to 1,551,863.0 units, while total turnover was $145,630.20.

Structure and Formations

Price action showed a bullish harami at 09:45 ET, suggesting a potential pause in the upward move. A morning breakout above $0.0972 at 23:00 ET was confirmed by strong volume and turnover, indicating conviction. A bearish engulfing pattern at 09:00 ET hinted at near-term profit-taking pressure.

Momentum and Volatility

RSI climbed toward overbought levels during the late afternoon, peaking at 72 before retracing slightly, suggesting possible exhaustion in the rally. Bollinger Bands narrowed between 05:30 and 06:00 ET, signaling a potential breakout phase. MACD remained above its signal line throughout the session, affirming bullish momentum.

Volume and Turnover Analysis

Volume stayed consistently above average, with a notable spike at 23:00 ET coinciding with the breakout of $0.0972. Turnover also surged during this period, offering confirmation of the move. A divergence between volume and price during the early morning dip suggests some accumulation activity.

Fibonacci and Key Levels

Fibonacci retracements drawn from the morning high ($0.0986) and early low ($0.0952) show 38.2% at $0.0969 and 61.8% at $0.0961—both of which coincided with key consolidation areas. Price appears to be consolidating near the 50-period 5-min SMA, hinting at potential continuation.

Looking ahead, the market may face a pullback test of the $0.0961 level, with a break below that likely to trigger further consolidation. Investors should remain cautious of overbought momentum indicators and watch for a potential reversal if the 50-period SMA on the 5-min chart begins to flatten or decline.