Market Overview for Pixels/Tether USDt (PIXELUSDT)

• Price tested key resistance near 0.0283 but failed to close above
• Volatility expanded as price moved between 0.0277 and 0.0284
• MACD turned bullish after midday, while RSI hit overbought levels twice
• Bollinger Band contraction occurred during consolidation phases
• Volume spiked during 22:00–00:00 ET, correlating with price highs

Pixels/Tether USDt (PIXELUSDT) opened at 0.02796 on 2025-09-04 at 12:00 ET, reached a high of 0.02844, touched a low of 0.0277, and closed at 0.0281 as of 12:00 ET on 2025-09-05. Total volume for the 24-hour window was 20,713,868.4, and turnover was approximately $585,048.

Structure & Formations

The 15-minute chart shows a choppy midday trend with a bullish reversal at 17:30 ET as price broke above a key ascending wedge. A 61.8% Fibonacci retracement from the 17:30 swing high and 18:30 swing low was retested at 0.0281, but failed to hold as buyers regained control after 20:45 ET. A small bullish engulfing pattern formed at 21:45 ET, confirming a short-term reversal. A doji at 23:45 ET suggests indecision ahead of the final push toward 0.02844.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA in the late evening, signaling a potential bullish trend continuation. On the daily chart, the 50-period MA appears to be forming a bullish angle, while the 200-period MA remains flat but within a tight consolidation range.

MACD & RSI

The MACD turned positive after 18:00 ET and held above the signal line until just before the 00:00 ET close, suggesting ongoing bullish momentum. RSI hit overbought levels at 72 and 76 during the 22:00–23:00 ET rally, indicating a potential pullback may be imminent. A bearish divergence appears in RSI during the final 15-minute candles before the 00:00 close.

Bollinger Bands

Bollinger Bands expanded during the late-night surge, with price pushing above the upper band at 23:00 ET. This suggests a period of high volatility and strong buying pressure. The midday contraction between 16:00 and 18:00 ET indicates a potential breakout period. Prices remained above the 20-period moving average for the majority of the session, indicating a strong bias to the upside.

Volume & Turnover

Volume spiked during the late-night rally, with a 15-minute candle at 23:15 ET showing volume of 676,269.1. This coincided with a high of 0.02847 and a significant increase in turnover. The price-to-volume relationship remained aligned during this period, suggesting strong conviction in the move higher. A divergence appears in the final candle, with a lower close and reduced volume, hinting at potential near-term exhaustion.

Fibonacci Retracements

Key Fibonacci levels from the recent 17:30–19:30 swing showed strong influence. The 61.8% retracement at 0.0281 acted as a support level during the consolidation phase. On the daily chart, a 38.2% retracement from the previous week’s high appears near 0.0284, which may hold as resistance in the coming 24 hours.

Backtest Hypothesis

The backtest strategy relies on identifying a bullish engulfing pattern on the 15-minute chart during an uptrend and entering a long position when the close exceeds the high of the engulfing candle. Stop-loss is placed at the low of the engulfing candle, and take-profit is set at the 1.618 extension level of the prior bullish leg. Based on the 21:45 ET engulfing pattern and 0.0281 Fibonacci retracement, the strategy would have generated a trade entry around 0.02815 with a target at 0.0284 and a stop at 0.02804. Given the current positioning, this strategy could be applied to the next potential bullish reversal.