Market Overview for Pixels/Tether (PIXELUSDT) on 2025-09-21

• Price dropped from 0.03334 to 0.03245 amid a broad bearish bias.
• Volume surged to 4.5M in the early afternoon, confirming downward momentum.
• RSI fell into oversold territory, hinting at potential near-term reversal.
• Bollinger Bands showed a moderate expansion as volatility increased.
• Key support at 0.0326–0.0328 may be tested in the next 24 hours.

The Pixel/Tether (PIXELUSDT) pair opened at 0.03317 on 2025-09-20 at 16:00 ET and closed at 0.03256 on 2025-09-21 at 12:00 ET. The 24-hour period saw a high of 0.03354 and a low of 0.03245. Total trading volume reached 10.5 million, with a notional turnover of ~$348,635 (based on average price of 0.03303).

The structure of the price movement reflects a strong bearish bias, with a key resistance zone forming between 0.0330–0.0334 and a critical support cluster between 0.0326–0.0328. Several bearish engulfing patterns formed in the early afternoon, especially between 09:30 and 10:45 ET, confirming the downward pressure. A notable doji appeared at 03:45 ET near 0.03289, indicating indecision and a potential short-term pause in the bearish move.

Structure & Formations

The price declined in a clear bearish trend throughout the day, punctuated by several engulfing patterns and a key doji. The initial resistance at 0.03334 broke to the downside, signaling that the pair is in a consolidation phase or could test lower levels. Support levels at 0.0328 and 0.0325 appear to be critical, as they have seen multiple retests and could offer a bounce point if buyers step in.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are in bearish alignment, with the price below both. The 50-period MA is currently at 0.03297, and the 20-period is at 0.03284, suggesting continued bearish momentum in the short term. On the daily chart, the 50-period MA is near 0.0332, with the 200-period MA at 0.0335, reinforcing a bearish bias.

MACD & RSI

The MACD line crossed below the signal line in the early hours, forming a bearish crossover, and has remained negative throughout the period. The RSI dropped into the oversold range, bottoming out near 30, which suggests that the asset is undervalued and could see a bounce in the near future. However, sustained bearish conditions may keep the RSI in this range for a few more candles.

Bollinger Bands

Volatility expanded as the price dropped, with the Bollinger Bands widening. The price closed near the lower band, indicating a high degree of bearish pressure. A retest of the lower band in the next session could either trigger a short-term rebound or confirm a continuation of the downtrend, depending on volume and order flow.

Volume & Turnover

Volume spiked significantly during the afternoon session, peaking at 2.77 million at 10:00 ET, coinciding with the price falling to 0.03255. This large volume confirms the bearish breakout. Notional turnover also rose in tandem, suggesting that the move is backed by liquidity. A divergence between volume and price action was not observed, indicating that the bearish move is not yet overextended.

Fibonacci Retracements

Using the recent high of 0.03354 and the low of 0.03245, key Fibonacci levels include 0.03304 (38.2%) and 0.03275 (61.8%). The price has already tested the 38.2% level and is currently near the 61.8% level. A failure to hold above this latter level could lead to further testing of the 50% level at 0.03299 and potentially the 78.6% level at 0.03259.

Over the next 24 hours, the pair is likely to test the 0.0326–0.0328 support zone. A bounce here could see a retest of the 0.0329 level. However, a break below 0.0325 may extend the downward move toward 0.0322. Traders should monitor volume and order flow for signs of a reversal or continuation. As always, bear in mind the risks of a further bearish move, especially if broader crypto markets continue their downward drift.

Backtest Hypothesis

The backtesting strategy described involves entering short positions when the price breaks below a 20-period moving average on the 15-minute chart, with a stop-loss placed at the nearest swing high. This approach aligns with the current bearish setup, as the price has already broken the 20-period MA and is trading well below it. The MACD crossover and RSI in oversold territory suggest the move has momentum and may continue. However, traders should exercise caution, as a reversal could also occur if the RSI fails to remain in oversold conditions or if volume begins to decline.