Market Overview: PundiX/Tether (PUNDIXUSDT) – 24-Hour Summary as of 2025-09-22

• Price declined from 0.3156 to 0.2946, with bearish momentum visible on 24-hour 15-min candles.
• RSI moved into oversold territory, suggesting potential short-term reversal.
• Bollinger Bands show contraction at 0.2946, indicating a possible breakout phase.
• Volume increased dramatically during the 0.2924–0.3071 range, validating the pullback.
• Fibonacci 61.8% level at 0.2965 appears to be a key support for near-term stability.

PundiX/Tether (PUNDIXUSDT) opened at 0.3147 on 2025-09-21 12:00 ET and closed at 0.2946 on 2025-09-22 12:00 ET, with a high of 0.3156 and a low of 0.2924. Total 24-hour volume amounted to 857,812.7 and notional turnover reached $262,427.4, reflecting heightened market activity during the price decline.

Structure & Formations

Price formed a bearish continuation pattern throughout the 24-hour period, characterized by a descending trend with notable support at 0.2946 and key resistance at 0.3071. A bearish engulfing pattern was observed near the 0.3136–0.3118 level, followed by a series of lower lows and confirmed bearish momentum. A doji near 0.2946 signaled indecision but coincided with a sharp volume spike, suggesting a temporary pause in the decline.

Moving Averages

The 15-minute chart saw price trading below the 50- and 20-period moving averages, with the 50-period line at 0.2978 and the 20-period at 0.2966, indicating bearish dominance. On the daily chart, the 50-period MA is at 0.2995, and the 200-period MA is at 0.3055—price remains below both, suggesting the downtrend is likely to continue unless there's a reversal above the 50-period MA.

MACD & RSI

The RSI dropped into oversold territory below 30 for several 15-minute intervals, most notably between 0.2948 and 0.2946, hinting at potential short-term buying interest. MACD remains in negative territory with a narrowing histogram, indicating that bearish momentum may be losing strength, though a bullish crossover has yet to occur.

Bollinger Bands

Volatility has been on the rise, with price approaching the lower Bollinger Band at 0.2946 and the band width expanding. This suggests a potential breakout or reversal phase. Price is currently resting near the band floor, with a move above the midline (0.2964) likely to signal a near-term bottoming process.

Volume & Turnover

Volume surged during the 0.2924–0.3071 range, with the most active candle at 0.2946–0.2948 seeing a turnover of $29,964.5. While price continued to fall, the volume spike suggests accumulation or positioning for a potential bounce. Divergence between falling price and increasing turnover was noted near 0.2946, which could indicate a short-term reversal.

Fibonacci Retracements

Applying Fibonacci retracements to the 0.3156–0.2946 swing, the 38.2% level is at 0.3030 and the 61.8% level at 0.2965. Price tested the 61.8% level on multiple occasions, with the most recent close at 0.2946 failing to reclaim this level. A move back above 0.2965 could trigger a pullback toward the 0.3030 level.

Backtest Hypothesis

A potential backtest strategy would involve entering a long position on a close above the 61.8% Fibonacci level at 0.2965, with a stop loss below 0.2946. The target would be the 38.2% level at 0.3030, with a trailing stop initiated at 0.2975. This approach leverages the Fibonacci structure and volume confirmation near key support. The strategy would benefit from using RSI as a filter—only entering long positions when RSI crosses above 30 after a sustained oversold period.