Market Overview for Marlin/Tether (PONDUSDT) — 2025-11-03

• PONDUSDT opened at $0.00547 and reached a high of $0.00562 before closing at $0.00528.
• The 24-hour candle shows a bearish trend with a net decline of -1.17%.
• Volume peaked in the overnight session as prices fell sharply below Bollinger Band midline.
• RSI approached oversold territory, but downward momentum showed no sign of abating.
• Divergence between price and volume suggests sustained bearish pressure into the next session.

24-Hour Price Action

Marlin/Tether (PONDUSDT) opened at $0.00547 on 2025-11-02 at 12:00 ET and traded as high as $0.00562 during the overnight hours in New York. The price then declined sharply into the morning, closing at $0.00528 on 2025-11-03 at 12:00 ET. Total volume over the 24-hour period reached 7,569,625.0, with turnover of approximately $4,148.71. The candlestick pattern formed is a bearish long lower shadow, indicating a struggle between buyers and sellers before sellers ultimately took control.

Structure & Moving Averages

On the 15-minute chart, PONDUSDT has tested a descending trendline multiple times, with the 20-period moving average (SMA20) dipping below the 50-period SMA (SMA50) to confirm a bearish crossover. The daily chart shows the price has fallen below both the 50-day and 200-day SMAs, reinforcing the bearish momentum. A key support level appears to be forming near $0.00525, where the price has bounced twice but failed to close above.

Momentum Indicators: MACD and RSI

The MACD line has remained below zero throughout the 24-hour window, with a bearish crossover observed at the start of the overnight session. The histogram has expanded in the negative territory, indicating increasing bearish momentum. The 14-period RSI has dipped into the 25–30 range on several occasions, signaling potential oversold conditions, though the price continues to fall without a clear rebound, suggesting exhaustion may not yet be in place.

Bollinger Bands and Volatility

Volatility has increased significantly as the upper Bollinger Band widened during the early morning hours. The price has spent most of the session below the midline of the bands, indicating a weak bullish bias. A narrow contraction in the bands was observed at the start of the 24-hour period, which was followed by a sharp downward break. This suggests that a breakout may be imminent if the price continues to probe near the lower band.

Volume and Turnover Analysis

Trading volume has been concentrated in the overnight hours, peaking at $0.00530 with a single candle recording 7.2 million in volume. Notional turnover also spiked during this period, confirming the bearish move. However, volume has since declined into the morning, suggesting a possible lack of follow-through from sellers. The divergence between price and volume could indicate a potential short-term reversal if buyers step in.

Fibonacci Retracements

On the 15-minute chart, the recent drop from $0.00562 to $0.00528 has tested the 61.8% Fibonacci level, which currently sits around $0.00531. If this level fails to hold, the next key support to watch would be the 78.6% level at approximately $0.00524. On the daily chart, a retest of the 50% Fibonacci level of the recent bearish move appears likely over the next 24 hours.

Backtest Hypothesis

Given the RSI’s repeated forays into oversold territory, a potential strategy would be to trigger buy signals when the 14-period RSI falls below 30 and close positions 24 hours later. The accuracy of this backtest relies heavily on correct data retrieval, which is currently hindered by the ticker symbol issue. To proceed, confirmation of the exact symbol format—whether “PONDUSDT” or another variation—is needed to ensure the historical RSI and price data are retrieved correctly. Once the symbol is verified, the backtest can be executed over the 2022-2025 period using the outlined strategy.

Outlook and Risk

The next 24 hours will likely test the $0.00525 support level, with a breakdown below this level potentially accelerating the bearish trend. Traders should watch for a confirmation candle below this level as well as divergence in the RSI. A rebound above the 50-period SMA may offer short-term relief, but continued volume weakness could prolong the downside.