Market Overview: Paris Saint-Germain Fan Token/Tether (PSGUSDT)

Summary
• Price opened at 1.016, reached a high of 1.030, and closed at 0.997 by 12:00 ET today.
• A sharp drop occurred post-21:15 ET, with volume spiking to 19,896.15.
• Momentum indicators suggest oversold conditions emerged late in the session.

Opening Narrative

Paris Saint-Germain Fan Token/Tether (PSGUSDT) opened at 1.016 on 2025-11-05 12:00 ET, reached a high of 1.030, and closed at 0.997 by 12:00 ET on 2025-11-06. Total volume for the 24-hour window was 306,572.00, with notional turnover amounting to 283,107.29 USDT.

Structure & Formations

Price formed a bearish engulfing pattern around 21:15 ET, signaling a shift in sentiment from bullish to bearish. A key support level appears to have formed near 0.990, while resistance remains at 1.010 following the initial break and retest.

Moving Averages

On the 15-minute chart, the 20-period SMA crossed below the 50-period SMA, indicating a short-term bearish bias. For daily chart analysis, longer-term averages (e.g., 200-day) would be necessary for a more robust trend assessment.

MACD & RSI

The RSI dipped below 30 in the latter half of the session, suggesting oversold conditions. MACD remains in negative territory with a narrowing histogram, indicating weakening bearish momentum.

Bollinger Bands

Price traded near the lower band for much of the session, confirming a period of low volatility. A slight expansion in band width in the final hours suggests increased market uncertainty.

Volume & Turnover

Volume surged to over 19,896.15 at the peak of the selloff, confirming bearish conviction. Notional turnover spiked during this period as well, aligning with price action and reinforcing bearish sentiment.

Fibonacci Retracements

Applying Fibonacci levels to the 1.016–1.030 swing, key retracement levels of 1.024 (38.2%) and 1.019 (50%) were tested and rejected. The 1.010 level (61.8%) now appears critical for near-term support.

Backtest Hypothesis

A backtest using the MACD crossover strategy on PSGUSDT would require access to daily OHLCV data. Unfortunately, this data is currently unavailable due to the symbol not being found in the system. A few options are available to proceed: (1) use an exchange-qualified symbol or uploaded data to compute the MACD manually, (2) switch to a supported symbol such as BTCUSDT or ETHUSDT, or (3) proceed with a simplified, hypothetical MACD crossover strategy for illustrative purposes. Selecting one of these paths will allow the backtest to continue and provide valuable insights into the effectiveness of the strategy on PSGUSDT.

The market now appears to be consolidating near 0.997, with buyers showing interest at the 0.990 level. Should price fail to hold above this, further downside toward 0.985 may follow. Conversely, a rebound above 1.010 could reignite bullish momentum.