Market Overview for PundiX/Tether (PUNDIXUSDT) on 2025-09-17

• PUNDIXUSDT dropped from 0.3213 to 0.3134 over 24 hours, closing at 0.3136 after a bearish reversal.
• Momentum weakened as RSI hit oversold levels while volume surged on the decline, signaling potential exhaustion.
• Key support at 0.3133-0.3134 held, with Bollinger Bands tightening suggesting consolidation ahead.
• A large bearish engulfing pattern formed near 0.3200, reinforcing short-term bearish bias.
• Volume spiked during the final leg down, confirming distribution and weakening bullish conviction.

PundiX/Tether (PUNDIXUSDT) opened at 0.3184 on 2025-09-16 at 12:00 ET, reached a high of 0.3213, and closed at 0.3136 on 2025-09-17 at 12:00 ET. Total volume for the 24-hour period was 593,697.1, and total notional turnover was approximately $189,124.30. The pair exhibited a strong downward bias with a large bearish engulfing pattern near 0.3200 and a confirmed break below key support.

Structure & Formations

A bearish engulfing candle formed at 0.3200–0.3208 on 2025-09-17 at 00:15–00:30 ET, confirming a reversal after a short uptrend. The price then fell into a defined support zone at 0.3133–0.3134, which held firm during the final 15-minute period. A doji formed at 0.3135–0.3136, signaling indecision and a possible reversal. The 24-hour pattern resembles a descending triangle with a break below the lower boundary.

Moving Averages

On the 15-minute chart, the price closed below the 50- and 20-period moving averages, confirming bearish momentum. For the daily chart, the 50-period moving average sits at 0.3203, and the 200-period is at 0.3245. The price remains well below both, reinforcing a bearish bias. A crossover below the 100-period MA at 0.3215 may confirm a medium-term downtrend.

MACD & RSI

The RSI dropped below 30 on 2025-09-17, hitting 28.6 during the final hours, indicating oversold conditions. The MACD crossed into negative territory with a bearish divergence in the histogram. Both indicators suggest price could consolidate or test the 0.3133 support again in the near term, but oversold readings may trigger a short-term bounce.

Bollinger Bands

Bollinger Bands showed a moderate expansion during the morning and late afternoon sessions, with the price trading near the lower band during the final hours. The 20-period band width peaked at 0.0026, suggesting increased volatility. The price’s proximity to the lower band confirms bearish momentum, but a rebound from the band edge could signal a short-term rebound.

Volume & Turnover

Volume spiked during the 03:00–04:00 ET and 13:45–14:45 ET sessions, with the latter corresponding to a sharp decline. Notional turnover rose in line with price action, showing no significant divergence. However, the bearish engulfing pattern was accompanied by a volume spike, suggesting distribution by sellers. The final leg down saw large volume and a sharp drop, reinforcing bearish conviction.

Fibonacci Retracements

A key 0.618 retracement level is at 0.3152, which failed to hold during the 09:00–09:15 ET session. The 0.382 retracement at 0.3177 was also tested but failed to provide resistance. The next key Fibonacci support is at 0.3133, coinciding with a major swing low. A break below this level could target 0.3118, the next 0.618 retracement from the 0.3188–0.3213 swing high.

Backtest Hypothesis

The backtesting strategy involves a 15-minute chart-based short-biased approach that enters on a confirmed break of the 50-period moving average below the 20-period MA, with a stop above the recent high. Given today’s price action, such a trigger could have activated at 0.3200 during the 00:15–00:30 ET session, with a stop above 0.3208. This setup would have yielded a profitable trade as price fell to 0.3136. The RSI and MACD confirmed oversold conditions, but the lack of divergence and volume confirmation during the 0.3133–0.3136 consolidation suggests the trade is currently in a wait mode for re-entry. A follow-up short may be justified on a break below 0.3133, with a target to 0.3118.