Marlin/Tether (PONDUSDT) Market Overview for 2025-10-07

• PONDUSDT fell 0.16% over the last 24 hours, closing near the session low with a bearish close below the open.
• Volume surged during early hours of the session, while price action remained in a narrow range later.
• RSI dipped into oversold territory, suggesting potential for a short-term bounce.
• Bollinger Bands showed a contraction in the final hours, indicating a potential breakout or reversal.
• No strong reversal candlestick patterns formed, but price remained near key support levels.

24-Hour Price Summary

At 12:00 ET on 2025-10-07, Marlin/Tether (PONDUSDT) opened at $0.00813, reached a high of $0.00829, and hit a low of $0.00770 before closing at $0.00775. The total volume for the 24-hour window was 10,486,901. Total notional turnover was approximately $85,823, based on closing prices.

Structure & Formations

The price action showed a bearish bias over the past 24 hours, with the price testing support around the $0.00796–$0.00802 range multiple times. A key support level appears to be forming near $0.00770–$0.00780. No strong bullish or bearish engulfing patterns emerged, but the session ended with a small bearish close near the lower Bollinger Band.

Moving Averages

On the 15-minute chart, the price closed below both the 20 and 50-period moving averages, reinforcing the short-term bearish trend. The 20-period MA is currently at $0.00792, while the 50-period MA is at $0.00800. A break below $0.00770 could see the price test the $0.00760 level next.

MACD & RSI

The MACD line crossed below the signal line in the early part of the session, signaling a bearish crossover. RSI dropped into oversold territory near 30 in the last 3 hours, which may hint at a short-term bounce. However, without a strong reversal candle, this may just be a pause in the bearish trend rather than a reversal.

Bollinger Bands

Volatility was mixed over the 24-hour window. The bands widened during the initial surge near $0.00829 and then contracted during the final hours, suggesting a period of consolidation. Price closed near the lower band, indicating a potential bounce or further downward movement. A move above the mid-band at $0.00788 may signal a shift in sentiment.

Volume & Turnover

Volume spiked during the early hours, especially around $0.00807–$0.00813, confirming the bearish pressure. However, in the last 6 hours, volume has decreased despite continued price declines, suggesting weakening bearish momentum. This divergence could foreshadow a short-term bounce or consolidation.

Fibonacci Retracements

Applying Fibonacci to the recent swing from $0.00802 to $0.00770, the 38.2% retracement level is at $0.00786 and the 61.8% level at $0.00792. These levels may offer potential support or resistance in the next 24 hours. The price currently sits near the 38.2% retracement and appears to have stalled at this level.

Backtest Hypothesis

A backtesting strategy could focus on detecting the divergence between falling prices and decreasing volume, as seen in the final hours of the 24-hour window. A potential trade entry could be triggered when RSI dips below 30 and volume contracts, suggesting exhaustion in the downward move. A long position might be taken with a target at the 50-period MA and a stop-loss just below the last swing low. This approach aligns with the current technical setup and the observed bearish momentum.