Market Overview for Prom/Tether (PROMUSDT): October 24, 2025

• PROMUSDT opened at $9.746, peaked at $9.916, and closed at $9.831 after a volatile 24-hour session.
• Price action saw a sharp rebound from ~$9.581 before stabilizing above key resistance at $9.75–$9.77.
• Volume surged at 19:00–22:00 ET, indicating accumulation, but turnover remained in-line with daily averages.
• RSI hovered near overbought territory, while MACD showed bearish divergence in the final 6 hours.
• Bollinger Bands expanded significantly, reflecting heightened volatility amid mixed buyer/seller sentiment.

The Prom/Tether (PROMUSDT) pair opened at $9.746 on October 23 at 12:00 ET, reaching a high of $9.916 before closing at $9.831 on October 24 at 12:00 ET. The 24-hour low was $9.581, with total volume traded at 130,479.51 and notional turnover at approximately $1,256,925. The price action reflected a sharp bearish breakdown followed by a strong rebound, ending with a bullish bias for the session.

Structure & Formations

The 15-minute chart revealed a key support zone between $9.70 and $9.75, with price bouncing off this level on several occasions. A large bullish reversal candle emerged at 22:30–23:00 ET, where price closed at $9.834 after a 750-point reversal. Earlier, from 17:00 to 19:00 ET, a descending pattern indicated bearish control. The price appears to be consolidating between $9.80 and $9.85, with potential for a breakout to the upside if buyers maintain momentum.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed in a bullish divergence around 20:00 ET, supporting the recovery from the $9.581 low. On the daily chart, the 50- and 100-period moving averages are aligned near $9.75–$9.78, while the 200-period line remains below at ~$9.68. This suggests a potential shift in medium-term bias toward bullish territory, assuming price holds above $9.75.

MACD & RSI

The MACD turned positive from 20:00 to 23:00 ET, confirming the bullish reversal. However, it showed bearish divergence in the final 6 hours, indicating potential resistance at $9.85–$9.87. RSI peaked at ~75 during the 00:30–01:00 ET window, suggesting overbought conditions and a possible pullback. Price could face short-term profit-taking pressure in the next 24 hours.

Bollinger Bands

Bollinger Bands expanded sharply during the 17:00–19:00 ET selloff and have remained wide since, signaling heightened volatility. Price has spent the last 10 hours in the upper band, suggesting continued bullish momentum. A contraction in the bands could signal a potential reversal if volume declines and price begins to consolidate.

Volume & Turnover

Volume spiked during the 17:00–19:00 ET selloff at 25,108.2 units, signaling increased bearish activity. However, a larger volume of 7,653.83 units at 22:15 ET marked a key reversal. Notional turnover was in-line with the 24-hour average, suggesting no major capital inflows. A divergence between rising price and declining volume in the final 6 hours may indicate caution among buyers.

Fibonacci Retracements

Applying Fibonacci to the $9.581–$9.916 move, key levels at 61.8% (~$9.795) and 78.6% (~$9.845) were tested multiple times. Price appears to be consolidating at 78.6% and may attempt a break to the 88.6% level (~$9.89) if bulls dominate. A breakdown below the 50% level at $9.75 would signal renewed bearish pressure, aligning with the 50-period MA.

Backtest Hypothesis

A backtest relying on confirmed Bullish Engulfing patterns may enhance the predictive power of this chart setup, especially around the 22:30–23:00 ET reversal candle. If such patterns are validated at known support zones like $9.75–$9.77, a 5-day-hold signal could yield positive returns during bullish continuation. To proceed, the correct exchange format (e.g., “PROMUSDT.BINANCE”) and a verified dataset of event dates are required for accurate signal generation.