Market Overview: PundiX/Tether (PUNDIXUSDT) 24-Hour Technical Summary

• PundiX/Tether (PUNDIXUSDT) rose 0.65% in 24 hours amid bullish momentum and expanding volatility.• Price broke above key resistance at 0.3268, forming bullish continuation patterns like higher highs and higher lows.• High volume surges and strong turnover confirm recent advances, with no divergence detected.

PundiX/Tether (PUNDIXUSDT) opened at $0.3216 at 12:00 ET-1, reaching a high of $0.3335 and a low of $0.3232 before closing at $0.3335 at 12:00 ET. Total volume across the 24-hour window was 2,344,464.5, with a notional turnover of $760,350.50. The price action showed a distinct bullish bias with strong volume confirmation and a broad upward thrust.

Structure & Formations

The 15-minute chart revealed a series of higher lows and higher highs, forming a bullish continuation pattern. A significant resistance level was confirmed at 0.3268, where price previously stalled but eventually broke through with strong volume. A bullish engulfing pattern appeared at 0.3270, followed by a higher high at 0.3300. At the same time, the price found support at 0.3272, forming a potential base for further upward movement.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended upward, supporting the bullish bias. The price traded above both, indicating a strong near-term uptrend. On the daily chart, the 50-period MA moved above the 200-period MA, a classic golden cross setup that suggests an emerging bullish momentum.

MACD & RSI

The MACD line and signal line crossed to the upside, confirming the bullish momentum. The histogram showed a broadening positive bar, indicating increasing bullish strength. The RSI, currently at 58, remained in balanced territory, avoiding overbought conditions and suggesting room for further gains without exhaustion.

Bollinger Bands

Volatility expanded significantly during the 24-hour window, with the upper Bollinger Band reaching 0.3340. The price closed near the upper band at 0.3335, signaling a strong momentum move. The bands widened as the trend progressed, indicating growing conviction in the upward trajectory.

Volume & Turnover

Volume surged sharply during the late-night and early-morning hours, with the largest single 15-minute candle (amount 26) recording a volume of 227,295.8 at 06:30 ET. Notional turnover increased in tandem, showing no divergence from price action. The volume profile confirmed strong participation, especially during key breakout moments above 0.3268 and 0.3300.

Fibonacci Retracements

Applying Fibonacci to the 15-minute swing from 0.3232 to 0.3335, key levels include 0.3284 (38.2%), 0.3304 (50%), and 0.3317 (61.8%). The price paused briefly at 0.3284 before resuming the upward move. The 61.8% retracement level at 0.3317 appears to be a critical threshold, with further moves above 0.3335 likely to target 0.3340–0.3355.

Backtest Hypothesis

A potential backtesting strategy for PUNDIXUSDT could involve using the 20-period MA as a dynamic support level and entering long positions when price breaks above it with a volume confirmation. Stops could be placed below the last significant support level, while take-profit targets could align with Fibonacci extensions of 127.2% and 161.8%. Given the current setup, this approach appears to align with recent price behavior and could offer a favorable risk-reward profile, especially if volume remains strong and RSI avoids overbought territory.