Market Overview for Pixels/Tether (PIXELUSDT)

Summary
• Pixel price dropped to 0.01397 over 24 hours, marking a bearish trend with strong bear dominance.
• Volume surged to 5.2M at 15:00 ET, showing increased selling pressure and short-term panic.
• RSI suggests oversold conditions, hinting at potential short-term rebound.

Pixels/Tether (PIXELUSDT) opened at 0.01467 on 2025-11-11 at 12:00 ET, reaching a high of 0.01479 before closing at 0.01407 on 2025-11-12 at 12:00 ET. The 24-hour low was 0.01355. Total volume across the period was 23,311,452, with turnover amounting to $304,000 (calculated from volume and average price).

Structure & Formations

The price of PixelUSDT formed a series of bearish inside bars and long lower shadows, particularly from 19:00 to 21:00 ET, indicating strong short-term bear pressure. Key support levels emerged near 0.0140 and 0.0138, while resistance held at 0.0143 and 0.0145. A bearish engulfing pattern formed around 20:00 ET, signaling a likely continuation of the downward move.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended lower, with price consistently below both. For the daily chart (24-hour resolution), the 50 and 100-period moving averages were also bearish, with no clear signs of a reversal forming. The 200-period MA acted as a distant resistance level but remained untested.

MACD & RSI

The MACD histogram contracted into negative territory after 19:00 ET and showed a bearish divergence with price during the final 2 hours of the 24-hour window. RSI fell below 30 in the last 4 hours, signaling oversold conditions, though a rebound remains contingent on volume confirmation and breakout of the 0.0142 level.

Bollinger Bands

Price traded near the lower band of the Bollinger Bands for most of the last 8 hours, indicating a period of low volatility followed by a sharp drop. The bands have widened slightly in the last 3 hours, suggesting a potential shift in volatility and the possibility of a countertrend bounce.

Volume & Turnover

Trading volume surged to 5.2M at 15:00 ET, corresponding with a sharp drop in price. This spike in volume suggests capitulation and increased bear activity. Turnover moved in tandem with volume, with no significant divergence observed between the two. Price and turnover aligned during the 16:00–17:00 ET window, confirming the bearish momentum.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute move from 0.01479 to 0.0138, the 61.8% level (~0.0142) appeared to act as a key resistance. On the daily chart, the 38.2% retracement (~0.0141) coincided with a recent low, reinforcing its role as a potential near-term support level.

Backtest Hypothesis

The backtest strategy in question focuses on MACD bottom divergence signals, which appear to be relevant given the divergence observed in the final hours of the 24-hour period. A backtest could confirm whether the signal at ~0.0138 led to a profitable short-term bounce. However, the current data stream does not allow for automated execution of this backtest without a confirmed ticker or signal set. Once a valid ticker or set of signal dates is provided, we can run a full backtest to assess the strategy's viability.