PundiX/Tether Market Overview

• PUNDIX/USDT traded in a tight range until a bullish breakout in late ET hours pushed price to a 24-hour high of $0.3265
• Volume surged during the upward move, confirming strong buying pressure during the 19:30–04:00 ET window
• RSI and MACD showed divergences after 07:00 ET, suggesting possible short-term momentum reversal
• Price retested key 0.3235–0.3245 support cluster multiple times, indicating strong near-term consolidation
• Bollinger Bands expanded significantly during the rally, reflecting increased volatility and potential continuation or reversal

PundiX/Tether (PUNDIXUSDT) opened at $0.3139 at 12:00 ET–1 and closed at $0.3226 at 12:00 ET, trading between $0.3120 and $0.3265 over the 24-hour period. Total volume amounted to 1,345,256.9 and total turnover was $423,606.32. The pair experienced a late-night bullish push followed by consolidation, with volatility spiking during the 19:00–04:00 ET window.

Structure & Formations

The candlestick structure over the past 24 hours showed a strong bullish impulse during the 19:30–04:00 ET window, with price surging from $0.3161 to $0.3265. A key bullish breakout was observed when the pair moved above the 0.3235–0.3245 consolidation cluster. A few notable candlestick patterns emerged, including a strong bullish engulfing pattern at 22:30 ET, a near doji at 07:00 ET indicating indecision, and a bearish harami at 08:45 ET, which hinted at potential short-term correction.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA (golden cross) during the 21:30–00:00 ET window, confirming the bullish momentum. On the daily chart, the 50-period MA appears to be forming a key support level at approximately $0.3220. The 200-period MA is slightly below the current price, indicating the asset is trading above its long-term average.

MACD & RSI

The MACD indicator showed a positive divergence with price during the 02:00–07:00 ET window, suggesting weakening bullish momentum. The RSI peaked near 60 during the 03:30 ET period and has since retreated toward the 50 level, indicating a potential shift in momentum. The pair has not entered overbought territory, with RSI peaking at 60, but traders should watch for a potential overbought condition if the rally continues.

Bollinger Bands

Bollinger Bands expanded significantly during the late-night bullish move, with price reaching near the upper band before retracing. This expansion suggests increased volatility and potential for either a continuation or a reversal. Price has since consolidated closer to the midline, indicating a period of consolidation ahead of the next directional move.

Volume & Turnover

Volume spiked during the 19:30–04:00 ET window, coinciding with the bullish breakout. The highest volume was recorded at 23:30 ET with 23,674.5, confirming the strength of the move. Notional turnover followed a similar pattern, peaking at $7,602.35 at 03:00 ET. A divergence between volume and price was observed at 07:30 ET, with volume declining as price moved lower, suggesting reduced conviction in the bearish move.

Fibonacci Retracements

Applying Fibonacci retracements to the 0.3120–0.3265 swing, the 38.2% and 61.8% levels are at $0.3173 and $0.3219, respectively. Price is currently consolidating near the 61.8% level, suggesting this area could act as a key support/resistance ahead of the next directional move.

Backtest Hypothesis

A backtesting strategy involving a combination of the 20/50-period moving average crossover on the 15-minute chart and a bullish RSI divergence could be effective for short-term trades. The golden cross observed during the 21:30–00:00 ET window, paired with RSI divergence, may have provided a high-probability entry point. A stop-loss placed below the 0.3219 Fibonacci support and a take-profit at the next resistance level above 0.3245 could manage risk while capturing potential upside.