Market Overview for Phala Network/Tether (PHAUSDT) – 24-Hour Update

Summary
• Price tested 0.0365–0.0370 range with a bearish shift late in the session.
• MACD signaled weakening momentum; RSI approached oversold levels after sharp selloff.
• Turnover increased during downward swings, suggesting conviction in bearish bias.
• Bollinger Bands tightened midday, followed by a volatility burst toward 10 PM ET.
• Volume surged during breakdowns below key psychological levels, indicating short-term capitulation.

At 12:00 ET on 2025-12-29, Phala Network/Tether (PHAUSDT) opened at 0.037, reached a high of 0.0373, a low of 0.0356, and closed at 0.036. Total volume for the 24-hour period was 8,588,295.6, with a notional turnover of 304,376.62.

Structure and Patterns

The 24-hour chart shows a consolidation pattern from 0.0365 to 0.0370 before a sharp bearish breakdown late in the session. A bearish engulfing pattern formed around 0.0368 as price closed below key support. A potential doji near 0.0365 suggests indecision before further declines.

Moving Averages and Momentum

On the 5-minute chart, the 20-period MA (0.0369) and 50-period MA (0.0367) crossed bearishly, reinforcing the downward bias. MACD (12,26,9) turned negative with bearish divergence, while RSI (14) dipped to 30, indicating oversold conditions.

Volatility and Bollinger Bands

Bollinger Bands narrowed between 0.0367 and 0.0369 midday, signaling low volatility before a sharp expansion post-8 PM ET. Price closed near the lower band, suggesting possible near-term support at 0.0358–0.0360.

Volume and Turnover

Volume spiked during the breakdown below 0.0365, with over 390k units traded at the 12:15 ET update. Turnover also surged during this period, aligning with the price move and suggesting stronger conviction in the bearish direction.

Fibonacci Retracements

Key Fibonacci levels for the 0.0358–0.0373 swing include 61.8% at 0.0363 and 38.2% at 0.0367. Price is now testing the 38.2% retracement level, which could be a potential bounce zone if buying interest reemerges.

Price may test 0.0358 as the next immediate support and 0.0365 as the first retest level. Investors should watch for a reversal candle or strong volume rejection below 0.0360.