Market Overview: Powerledger/Tether (POWRUSDT) – 24-Hour Summary

Summary
• Price traded in a tight range before surging past 0.089 on strong volume in the final hours.
• A bullish engulfing pattern formed at 0.0892-0.0894 near session highs, suggesting short-term buying pressure.
• RSI reached overbought territory, while MACD crossed into positive territory, reinforcing upward momentum.
• Volatility expanded as Bollinger Bands widened, and price tested the upper band near 0.0902.
• Turnover spiked above $10,000 in the last 30 minutes, with no clear divergence from price.

The Powerledger/Tether (POWRUSDT) pair opened at 0.088, reached a high of 0.0904, hit a low of 0.0879, and closed at 0.0904 at 12:00 ET. Total 24-hour volume was 835,168.0, with a notional turnover of approximately $73,944.

Price action developed in a consolidating pattern early in the session, with a key breakout forming after 0.0892 was cleared. The 20-period 5-minute moving average shifted upward, and the 50-period line began to act as support. On the daily chart, the 50-period line sat just below the current price, offering a potential floor.

MACD crossed into positive territory late in the session, confirming bullish momentum, while RSI edged into overbought territory near 70, suggesting potential for a pullback or continuation. Bollinger Bands expanded as volatility increased, with price testing the upper band around 0.0902.

Volume surged sharply in the final 30 minutes, aligning with the price move to 0.0904 and suggesting strong conviction in the rally. No major divergences were observed between price and turnover.

Fibonacci retracement levels highlighted potential resistance at 0.0907 (38.2%) and 0.0911 (61.8%) from the recent swing low. A bullish engulfing pattern at 0.0892-0.0894 and a long upper shadow on the final 5-minute candle hint at possible exhaustion or consolidation ahead.

The pair may continue to test key resistance or see profit-taking in the next 24 hours, depending on broader market sentiment. Investors should watch for a break below 0.0892 for a reversal signal.