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Summary
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Portal/Tether (PORTALUSDT) opened at 0.0228 at 12:00 ET – 1 and drifted down to a 24-hour low of 0.0221 before closing at 0.0223 at 12:00 ET. The pair traded between 0.0221 and 0.0229 during the session. Total volume reached 7,536,746.0, with a notional turnover of approximately $166,808 (based on average price).
Structure & Formations
PORTALUSDT displayed a descending channel on the 5-minute chart, with support consolidating around 0.0222–0.0223. A key bearish engulfing pattern formed near 0.0225 at 10:15 PM ET, followed by a potential bullish reversal at 0.0222 at 7:30 AM ET. A doji at 0.0224 around 01:45 AM ET indicated indecision amid a sharp drop.
Technical Indicators
The 20 and 50-period SMAs on the 5-minute chart remained bearish, with price below both. MACD showed negative divergence, and RSI dropped to oversold territory (~30), suggesting a potential bounce.

Volatility and Bollinger Bands
Volatility expanded from 12:00 AM to 3:00 AM ET as price dropped below the lower Bollinger Band. The band width increased from ~0.0001 to ~0.0003 during this time. Price remained within the 2σ range for most of the session, suggesting controlled downward momentum.
Volume and Turnover
Volume spiked near 0.0225 between 9:00 PM and 10:30 PM ET, confirming resistance. A large bearish candle with volume of 672,646 at 2:45 AM ET marked a key breakdown. Turnover aligned with price action, with a strong negative correlation observed during the early morning decline.
Fibonacci Retracements
On the 5-minute chart, a 534-tick swing from 0.0228 to 0.0221 saw price consolidating at the 61.8% level (0.0222), a potential support zone. A daily swing from 0.0245 to 0.0221 places 0.0226 at 38.2%, which may offer short-term support.
Price may test the 0.0222–0.0223 range for support over the next 24 hours, with a possible bounce back toward 0.0225–0.0227 if buyers emerge. However, bearish momentum remains strong, and a breakdown below 0.0221 could trigger further downside. Investors should watch for volume confirmation on any short-term rallies.
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