Market Overview for Phala Network/Tether (PHAUSDT): Volatility Peaks as Price Hovers Near 0.1095

• PHAUSDT closed at 0.1081, a 0.8% increase from the prior 24 hours.
• Price tested a key resistance at 0.1095, failing to break through and forming a bearish spinning top.
• Volume surged in the overnight session, confirming strength near 0.1091–0.1097.
• RSI moved into overbought territory, suggesting potential consolidation ahead.
• Bollinger Bands expanded post-05:00 ET, indicating a period of heightened volatility.

The Phala Network/Tether (PHAUSDT) pair opened at 0.1032 on 2025-09-17 at 12:00 ET and closed at 0.1081 at the same time on 2025-09-18. The 24-hour high was 0.1106 and the low was 0.1025. Total volume traded reached 7,411,157, while the notional turnover amounted to approximately $780,529. The pair experienced a bullish reversal after a volatile overnight session.

Structure & Formations

The 24-hour chart shows a key support level forming around 0.1080–0.1085 and a resistance at 0.1095–0.1100. A notable bearish spinning top appeared at 05:00 ET, suggesting indecision among traders near the 0.1097 level. This, combined with a long upper wick and a narrow body, indicates a potential reversal after an aggressive rally. Additionally, a morning star pattern emerged near 0.1080–0.1086, signaling a possible continuation of the upward trend.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed in favor of bullish momentum post-03:00 ET, supporting the recent rally. For the daily chart, the 50-period MA has crossed above the 200-period MA, indicating a longer-term bullish setup. The price currently trades above both the 50- and 100-period MAs, suggesting the upward trend remains intact.

MACD & RSI

The MACD histogram turned positive after 02:00 ET, confirming a shift in momentum to the bulls. The RSI climbed into overbought territory above 65, with a peak near 72 at 05:00 ET. While this suggests short-term exhaustion, the RSI has not yet triggered a sell signal. A pullback into 55–60 would likely reinvigorate bullish momentum.

Bollinger Bands

Bollinger Bands widened significantly during the overnight session, peaking at 05:00 ET when the high hit 0.1106. Price remained well above the midline, suggesting a period of bullish volatility. A contraction in the bands is expected as price consolidates around 0.1090–0.1095, with a potential break-out or breakdown likely to follow.

Volume & Turnover

Volume spiked during the overnight hours (04:00–06:00 ET), with a peak of 2,320,308 at 04:45 ET. This coincided with the 0.1106 high, confirming the strength of the move. However, a divergence in volume and price is visible around 05:30 ET, where volume dipped despite the price holding near 0.1095. This suggests a potential loss of momentum and increased likelihood of a consolidation phase.

Fibonacci Retracements

On the 15-minute chart, the most recent swing from 0.1033 to 0.1106 aligns with key Fibonacci levels at 38.2% (0.1069), 50% (0.1069), and 61.8% (0.1065). The current price of 0.1081 is slightly above the 50% level, indicating a possible continuation of the bullish trend. For the daily chart, the retracement levels from the prior month’s swing (0.1000–0.1130) suggest support at 0.1040 and resistance at 0.1080–0.1085.

Backtest Hypothesis

A potential backtest strategy could focus on the convergence of the 20- and 50-period MAs as an entry signal, with the RSI crossing above 60 as a confirmation of bullish momentum. Stops could be placed just below the recent 0.1076–0.1080 support zone. Given the current positioning above the 50-period MA and the recent volume spikes, a long bias is justified. However, the bearish spinning top and diverging volume at 05:00 ET suggest a cautionary approach, with a trailing stop above the 0.1090 level.