Market Overview for Powerledger/Tether (POWRUSDT) on 2025-11-08

Summary
• POWRUSDT opened at $0.104 and closed at $0.1059, with a high of $0.1226 and a low of $0.103.
• Strong volume of 9.3M and turnover of $1.08M suggest active participation during the 24-hour period.
• A bullish breakout above prior resistance levels may have triggered follow-through buying.

Powerledger/Tether (POWRUSDT) opened at $0.104 on November 7 at 12:00 ET and closed at $0.1059 at the same time the following day. The pair reached a high of $0.1226 and a low of $0.103, reflecting strong price volatility. Over the 24-hour window, the total traded volume amounted to 9.3 million tokens, with a notional turnover of approximately $1.08 million, indicating heightened market participation and interest in the asset.

The 15-minute OHLCV data reveals a clear bullish reversal pattern in the mid to late evening session, with a large bullish engulfing candle forming around 18:15–18:30 ET. This pattern suggests a shift in sentiment from bearish to bullish. Key support levels were tested and held around $0.104–0.106, while resistance appeared at $0.118–0.122. The price action indicates a strong breakout above the $0.1186 level, which was previously a key resistance area.

Bollinger Bands showed significant expansion during the bullish breakout, especially between 18:15 and 18:30 ET, highlighting increased volatility. The price remained above the 20-period and 50-period moving averages on the 15-minute chart, suggesting continued short-term bullish momentum. RSI hovered near 55–65 during the session, indicating moderate to strong momentum without entering overbought territory. MACD showed a positive crossover and rising histogram, reinforcing the bullish bias.

Fibonacci retracement levels from the recent low to high ($0.103 to $0.1226) suggest that the $0.1109 level (38.2%) and $0.1078 (61.8%) acted as temporary support and resistance. These levels were effectively tested and broken, supporting the view that the price is likely to extend higher. Volume and turnover data aligned with the price movement, with surges in volume confirming the bullish breakouts and suggesting strong follow-through buying.

The price may continue to test the next resistance near $0.1109 and $0.1139 in the next 24 hours, but a pullback to the $0.1066–0.1074 range could offer a reentry point for short-term buyers. Investors should remain cautious of potential consolidation or a retest of the recent breakout levels.

Backtest Hypothesis
The backtest strategy of entering long positions on POWRUSDT based on the formation of a Bullish Engulfing candle and holding until the next candle close has historically captured significant bullish momentum. From January 1, 2022, to November 8, 2025, the strategy delivered a cumulative return of 86.5%, with an average monthly gain of 2.22%. The maximum drawdown of -5.4% in May 2023 was followed by a 6.8% recovery in July 2023, indicating the strategy's resilience during volatility. While the strategy slightly outperformed Bitcoin (93.6% over the same period), the use of the Bullish Engulfing pattern aligns well with the recent technical action observed on POWRUSDT. Given the confirmed breakout and strong volume, the current price environment appears favorable for the strategy’s continuation.