Marlin/Tether (PONDUSDT) Market Overview – October 23, 2025

• • •
• Marlin/Tether (PONDUSDT) opened at $0.00584, reached $0.00592, and closed at $0.00584, with a 24-hour low of $0.0056.
• Price spent much of the session below $0.00582, but regained $0.00585 in the morning.
• A bullish engulfing pattern formed around 16:30 ET-1, suggesting potential upward momentum.
• Volatility remained narrow between $0.00575 and $0.00585, with trading volume spiking near key levels.
• RSI and MACD suggest neutral to mildly bullish momentum, but price remains within a tight range.

24-Hour Price Summary and Context

Marlin/Tether (PONDUSDT) opened at $0.00584 on October 22, 2025 at 12:00 ET-1 and closed at $0.00584 at 12:00 ET on October 23. The 24-hour high was $0.00592 and the low was $0.00560. Total trading volume for the period was approximately 14,669,968 units, with a notional turnover of roughly $8,540.38.

The price action was defined by a narrow range, with the majority of the session occurring between $0.00575 and $0.00585. A key bullish engulfing pattern formed at 16:30 ET-1, indicating a possible reversal in bearish momentum.

Structure & Formations

Price action on PONDUSDT showed a consolidation pattern within a defined range of $0.00575–$0.00585. A notable bullish engulfing candle appeared at 16:30 ET-1, where the open was $0.00585 and the close was $0.00587, engulfing the prior candle’s range. This suggests a potential short-term reversal in bearish sentiment.

Resistance levels were visible at $0.00582 and $0.00585, with the former acting as a psychological floor and the latter as a potential ceiling for further upside. Support is likely near $0.00576, where price found a temporary floor multiple times.

A minor bearish trend emerged during the late evening hours as price dropped below $0.00580, suggesting caution in near-term bullish assumptions.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed into a bullish alignment during the early morning hours (04:00–06:00 ET), suggesting short-term momentum. The 50-period MA remained above the 20-period MA during this period, reinforcing the bullish bias.

On the daily chart, the 50-period MA is above the 100-period and 200-period MAs, indicating a broader bullish trend. However, the 15-minute chart shows no strong divergence from the daily trend, keeping the momentum in a neutral-to-bullish range.

MACD & RSI

The MACD showed a positive crossover in the early morning, with the MACD line crossing above the signal line around 05:00–06:00 ET, indicating a short-term bullish bias. However, the histogram remained small, suggesting weak momentum.

RSI moved between 45 and 55 for most of the session, indicating a neutral market sentiment. It touched 61 in the morning, nearing overbought territory, but failed to close above 60, implying a lack of strong bullish conviction.

Bollinger Bands

Volatility remained relatively low throughout the day, with the Bollinger Bands narrowing between $0.00576 and $0.00585. Price hovered near the middle band most of the session, indicating consolidation. A slight expansion occurred in the morning as price broke above $0.00585, but it did not close above the upper band.

Volume & Turnover

Volume spiked around key resistance and support levels, particularly near $0.00582 and $0.00576, suggesting increased interest at these levels. The largest volume spike occurred at 16:30 ET-1 with a volume of 4,439,876 units, coinciding with the bullish engulfing pattern.

Notional turnover also increased at these price levels, confirming the significance of the price consolidation and the potential for a breakout. However, no large divergence between volume and price was observed, indicating consistent participation.

Fibonacci Retracements

On the 15-minute chart, a retracement from the low of $0.00576 to the high of $0.00585 showed the 38.2% level at $0.00580 and the 61.8% level at $0.00583. Price tested these levels multiple times, with $0.00582 acting as a temporary cap.

On the daily chart, Fibonacci levels from the prior week’s low and high suggested a key level at $0.00579, which was tested but not broken, indicating short-term support.

Backtest Hypothesis

A strategy based on the Bullish Engulfing pattern and targeting a sell at $0.00582 appears to align with the observed price action. The bullish engulfing pattern at 16:30 ET-1 fits the criteria for a potential long entry, with a sell target at the identified resistance level. This approach may allow for a controlled risk-reward setup, especially if the pattern is confirmed by volume and momentum.

While the RSI and MACD suggest limited overbought conditions, the Fibonacci retracement level at $0.00582 offers a clear target for profit-taking. However, the lack of a strong breakout above this level and the presence of consolidation suggest that the market may continue to range.

Forward-Looking View and Risk Consideration

Over the next 24 hours, traders should monitor whether price can hold above $0.00582 or whether a retest of $0.00576 will occur. A break above $0.00585 could signal a potential upward shift in trend, while a sustained move below $0.00576 may trigger a deeper pullback. Investors should remain cautious of false breakouts and consider using stop-loss orders near key support levels.