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Summary
• Price declined from $0.0844 to $0.0772, with a key support at $0.0778 and resistance at $0.0783.
• Volume surged to 4.7 million as price dropped, showing bearish conviction after a brief rally.
• RSI reached oversold territory (<30), suggesting potential for a rebound near 0.0775-0.0778.
• A long lower wick in the 05:15 ET-05:30 ET candle hints at rejection at 0.0775.
Market Overview
Powerledger/Tether (POWRUSDT) opened at $0.078 on 2025-12-20 12:00 ET and closed at $0.0772 on 2025-12-21 12:00 ET. The 24-hour range was $0.0763–$0.0844, with total volume of 11,667,040.5 and turnover of $863,944.
Structure & Formations
Price found key resistance at $0.0783 and support at $0.0778, with a doji appearing at $0.0783 on 05:15 ET, indicating indecision. A bearish engulfing pattern formed at $0.078–$0.0778 on 02:45–03:00 ET, signaling a shift in momentum.
Moving Averages
On the 5-minute chart, price closed below the 50 SMA at $0.0783 and the 20 SMA at $0.0785, reinforcing a bearish bias. Daily MAs (50, 100, 200) all remained above current levels, indicating deeper support may not be tested in the near term.
MACD & RSI
The 12:00 ET RSI fell to 27, entering oversold territory and suggesting potential for a rebound. MACD crossed below the signal line earlier in the 24-hour period, confirming bearish momentum.
Bollinger Bands
Volatility expanded significantly during the early part of the 24-hour period, with price reaching the upper band at $0.0844 before retracing. Price closed near the lower band, suggesting a potential bounce toward the midline in the coming 24 hours.
Volume & Turnover
Volume spiked to 4.7 million at $0.0805, coinciding with a sharp price drop, indicating increased bearish activity. Turnover confirmed this with a corresponding jump to $377,569. Divergence between higher volume and lower price action suggests aggressive selling.
Fibonacci Retracements
On the 5-minute chart, price retraced to the 61.8% level at $0.0778 before stalling. On the daily timeframe, the 38.2% retracement at $0.0783 acted as a strong resistance, limiting further upward movement.
Forward-Looking Observation
Price appears to consolidate around $0.0775–$0.0778, with RSI suggesting a potential rebound. However, bearish pressure remains high, and a break below $0.0775 could trigger further downside. Investors should watch for a decisive move above $0.0783 to rekindle bullish momentum.
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