Market Overview for Marlin/Tether (PONDUSDT)

Summary
• Price drifted lower through the 24-hour period, ending near session lows.
• Volume surged in the early hours, then gradually waned with weaker participation.
• Key support at 0.00396–0.00397 appears to be in play, with bearish engulfing patterns visible in the latter half.
• RSI and MACD signal weakening momentum, suggesting potential for a short-term bounce or consolidation.
• Volatility remains contained within a narrow Bollinger Band range, showing no clear breakout attempts.

Marlin/Tether (PONDUSDT) opened at 0.00406 on 2026-01-09 12:00 ET, touched a high of 0.00407, a low of 0.00394, and closed at 0.00396 on 2026-01-10 12:00 ET. Total volume was 16,316,665.0, and notional turnover stood at 64,093.98.

Structure & Formations

Price action has been defined by a steady descent over the 24-hour period, with bearish engulfing patterns forming in the last two candlesticks of the session. Key support levels emerged around 0.00396–0.00397, where price has found a floor on multiple occasions. A doji formed near 0.00396 at 03:45 ET, suggesting hesitation among buyers.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages both remain above current price levels, confirming a bearish bias. On the daily chart, the 50-period MA has not been tested, but the 200-period MA appears to be forming as a key long-term resistance.

MACD & RSI

MACD has remained bearish across the session, with negative divergences forming in the afternoon and night hours. RSI is currently near 30, indicating that the pair may be entering oversold territory, which could prompt a short-term bounce or consolidation phase.

Bollinger Bands

Volatility has remained relatively stable, with Bollinger Bands maintaining a moderate width. Price has remained within the lower half of the bands for much of the session, suggesting a lack of conviction in short-term directional moves.

Volume & Turnover

Volume spiked in the early part of the session, peaking at 884,461.0 around 22:45 ET, but declined significantly in the latter half. This divergence between volume and price action suggests weakening bearish momentum.

Fibonacci Retracements

Recent 5-minute swings show price testing the 61.8% Fibonacci level at 0.00397–0.00398 multiple times, before retreating. On the daily chart, price appears to be testing the 38.2% retracement level from a recent high, which could be a pivot point for near-term direction.

In the next 24 hours, PONDUSDT may test the immediate support at 0.00394–0.00395 for a potential bounce or consolidation phase. However, the bearish bias remains intact, with a risk of further downside if this level breaks. Investors should monitor for signs of a reversal pattern or a retest of the 0.00396–0.00397 zone for potential short-covering opportunities.