Market Overview for Phala Network/Tether (PHAUSDT)

Summary
• Price tested key resistance at $0.0415–0.0417 but retracted to consolidate around $0.0411–0.0414.
• RSI showed mild overbought conditions mid-day, followed by bearish divergence and bearish momentum reversal.
• Volume surged above 10 million during the final 1.5 hours, suggesting renewed short-term interest.
• Bollinger Bands widened post 15:15 ET, indicating heightened volatility and potential for a breakout.
• A bullish engulfing pattern emerged at 10:15 ET, but it was later negated by a large bearish candle.

At 12:00 ET–1 on 2026-01-18, Phala Network/Tether (PHAUSDT) opened at $0.0404 and traded between $0.0397 and $0.0429 before closing at $0.0414. The 24-hour volume reached 15,796,167.0, with a notional turnover of $658,590.00.

Structure & Formations

Price action revealed a key support zone at $0.0405–0.0408, where multiple bounces occurred, and a resistance cluster forming at $0.0415–0.0417. A doji at 15:45 ET suggested indecision, while a bullish engulfing pattern at 10:15 ET was later negated by a large bearish candle at 11:00 ET.

Moving Averages

On the 5-minute chart, price stayed above the 50-period SMA, indicating short-term bullish bias. However, the 20-period SMA crossed below the 50-period SMA just before 16:00 ET, hinting at potential bearish momentum. On the daily chart, price remains above the 50/200-day SMA, suggesting broader bullish underpinnings.

MACD & RSI

MACD showed bearish divergence after 14:00 ET, with the line dipping below the signal line. RSI reached overbought levels at mid-day (75–80) but subsequently fell below 50, indicating weakening momentum. A potential oversold condition developed below 40 after 17:00 ET.

Bollinger Bands

Volatility expanded significantly after 15:15 ET as Bollinger Bands widened. Price remained within the bands for most of the session, but a late surge pushed it near the upper band, indicating heightened short-term uncertainty and possible breakout scenarios.

Volume & Turnover

Volume spiked dramatically after 15:15 ET, with over 7 million trades occurring between 15:15 and 17:00 ET. This was mirrored by a sharp increase in turnover, suggesting accumulation or distribution at key levels. However, price failed to confirm a breakout above $0.0425–0.0427, indicating potential rejection.

Fibonacci Retracements

A retracement of the 0.0399–0.0429 swing identified key levels at 0.0414 (61.8%) and 0.0419 (78.6%). Price found support at the 61.8% level during the final hour, which could be watched for a potential rebound.

Looking ahead, if buyers manage to hold above $0.0414–0.0415, the asset may test the 0.0422–0.0425 resistance cluster. However, a breakdown below $0.0411 could target support at $0.0405–0.0408. Traders should remain cautious of volatility as large volume may indicate either accumulation or profit-taking, depending on follow-through.