Market Overview: Marlin/Tether (PONDUSDT) — 2025-09-21

• Marlin/Tether (PONDUSDT) saw a 1.2% 24-hour gain, forming a bullish reversal pattern at key support.
• Volatility surged in the morning before tapering, with volume peaking at 4022304.0 during the 1145–1200 ET window.
• RSI signaled oversold conditions early, followed by momentum divergence, suggesting potential exhaustion in the downtrend.
• A breakout above 0.00893 could trigger retests of 0.00903 resistance, with 0.00873–0.00878 acting as near-term support.
• Fibonacci retracement levels at 0.00883 and 0.00878 may offer strategic entry or exit points for short-term traders.

24-Hour Summary

Marlin/Tether (PONDUSDT) opened at 0.00869 on 2025-09-20 at 12:00 ET, reached a high of 0.00921, and closed at 0.00887 as of 2025-09-21 at 12:00 ET. The pair traded on a 24-hour volume of 187,755,910.0 units, with total notional turnover estimated at $1,637,570.10.

Structure & Formations

The 15-minute chart displayed a key bullish reversal pattern forming at 0.00864–0.00869, where price bounced off after a 4-hour descent. A long lower shadow at 0045 ET and a bullish engulfing pattern at 1030 ET signaled potential reversal strength. The 0.00873–0.00878 range acted as a strong support cluster, with price bouncing three times off that level.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart crossed above the 0.00880 mark, reinforcing a short-term bullish tilt. Daily 50/100/200 SMA levels are not visible in this dataset but would typically act as directional benchmarks for longer-term positioning.

MACD & RSI

The MACD crossed above the signal line in the late morning, confirming a bullish momentum shift. RSI reached oversold levels at 25 during the early hours, then climbed above 45 in the afternoon, suggesting moderate strength. A divergence formed in the late afternoon when price hit a new low but RSI did not, indicating possible bearish exhaustion.

Bollinger Bands

Volatility expanded sharply between 16:45–17:45 ET, with the upper band reaching 0.00903. Price closed near the mid-band by the final hour of the 24-hour window, indicating a period of consolidation following the earlier expansion. The narrowing of the bands in the late evening suggests decreasing uncertainty and may foreshadow a breakout.

Volume & Turnover

Volume spiked dramatically during the 1145–1200 ET window, hitting 4.02 million units traded, with a corresponding increase in notional turnover. This confirms strong conviction in the bullish move. However, volume dropped significantly after 02:00 ET, signaling reduced participation and potential caution ahead of further price movement.

Fibonacci Retracements

Applying Fibonacci levels to the 0.00864–0.00921 move, the 0.618 level is at 0.00895, the 0.500 level is at 0.00893, and the 0.382 level is at 0.00883. The 0.00883 and 0.00887 levels are currently being tested and may determine the next directional move.

Backtest Hypothesis

A backtesting strategy based on the 15-minute RSI divergence and Fibonacci levels could be applied here. When RSI forms a bearish or bullish divergence (price makes a new low but RSI does not), and the price is near key Fibonacci retracement levels, a trade could be initiated in the direction of the divergence with a stop just beyond the recent swing high or low. Given the current price at 0.00887 and the divergence observed in the afternoon, a long entry near 0.00883 could offer a favorable risk-reward setup, with a target at 0.00893 and a stop below 0.00877. This approach aligns with the momentum and structural signals identified in the recent candlestick data.