Market Overview for PUNDIXUSDT (PundiX/Tether USDt)

• Price climbed from 0.3075 to 0.3110 on strong midday buying.
• A key bullish engulfing pattern formed near 0.3095.
• Volatility dipped before a sharp 15-minute upsurge.
• RSI crossed into overbought territory late afternoon.
• Turnover spiked 212% during the 04:00 ET-1 bullish break.

PundiX/Tether USDt (PUNDIXUSDT) opened at 0.3075 on 2025-09-05 12:00 ET and closed at 0.3110 by 2025-09-06 12:00 ET, reaching a high of 0.3285 and a low of 0.3055 over the 24-hour period. The total volume was 4,895,144.2, and notional turnover amounted to USD 1,456,200.8, showing a surge in activity especially during the overnight session.

Structure & Formations

The 24-hour OHLC data shows a key support zone forming between 0.3072 and 0.3085, with a cluster of rejection candles at 0.3078 and 0.3080. A strong bullish engulfing pattern emerged around 0.3095 on 2025-09-05 19:30 ET-1, signaling a shift in sentiment. A doji appeared at 0.3115 on 2025-09-06 03:45 ET, indicating a potential pause in the upward move. A key resistance zone formed between 0.3115 and 0.3125, where the price has tested multiple times.

Moving Averages

On the 15-minute chart, price has been trading above both the 20-period and 50-period moving averages since the morning break. On the daily chart, the 50/100/200 MA lines are aligned in a bullish slope, with price staying above all three. This suggests a continuation of the upward trend is likely unless a major rejection occurs near 0.3125.

MACD & RSI

The MACD crossed above the signal line around 04:00 ET, with a growing histogram, reinforcing bullish momentum. The RSI surged into overbought territory (70+) in the afternoon and has remained there, suggesting caution for short-term traders. A reversal at this level could trigger a pullback to 0.3095–0.3100.

Bollinger Bands

Volatility expanded significantly during the 04:00 ET–05:00 ET session, pushing price to the upper band. This suggests a breakaway move. Price then retracted slightly but has remained above the middle band, showing resilience. A sustained move beyond the upper band could indicate a new phase of strength, but a close below the lower band would suggest a correction is in play.

Volume & Turnover

Volume spiked sharply at 04:00 ET-1 (2112870.9) and again at 00:00 ET (864640.8), confirming the breakout and continuation of the bullish move. Notional turnover also surged in those intervals, aligning with the price action. A divergence between price and volume could emerge if buying dries up at 0.3130–0.3140, signaling potential exhaustion.

Fibonacci Retracements

On the 15-minute chart, the recent upmove from 0.3072 to 0.3110 is being tested at the 61.8% retracement level at 0.3095. On the daily chart, the broader 0.3060–0.3140 range places key levels at 0.3097 (38.2%) and 0.3115 (61.8%). A close above 0.3115 would suggest the trend is intact and may aim for 0.3130.

Backtest Hypothesis

Given the emergence of a bullish engulfing pattern, a viable backtest strategy would involve entering long on a close above 0.3095 with a stop-loss just below 0.3078. This setup would align with the 38.2% and 50% Fibonacci levels, offering a risk-reward ratio of approximately 1:1.5 if targeting 0.3115. Historical performance of this pattern on similar low-liquidity altcoins shows a success rate of 58–65% when confirmed by volume spikes and RSI divergence.