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

• Price declined 5.3% over 24 hours, hitting a low of $0.1442.
• Strong selling pressure emerged after 08:15 ET, with a 15-minute drop to $0.1486.
• Volatility expanded, with a 1.8% range in the last 6 hours of the session.
• Turnover surged by 13x at 08:45 ET, confirming a bearish breakdown.
• A long lower shadow at 09:15 ET suggests rejection of further downside.

At 12:00 ET on 2025-10-07, Powerledger/Tether (POWRUSDT) closed at $0.1505, down from $0.1522 at 12:00 ET-1. The pair hit a 24-hour high of $0.1533 and a low of $0.1442. Total volume over the 24-hour period was 2,476,223 contracts, with notional turnover reaching approximately $371,000.

Structure & Formations
The 15-minute chart reveals a clear bearish bias with multiple breakdowns below key support levels. A strong bearish engulfing pattern emerged at 08:15 ET as price dropped from $0.1495 to $0.1486 amid heavy volume. A doji at 09:15 ET suggested temporary rejection of lower prices, but the subsequent breakdown to $0.1469 confirmed renewed bearish momentum.

Moving Averages
On the 15-minute chart, the 20 and 50-period SMAs both crossed below price action around 08:30 ET, reinforcing the downward trend. For the daily chart, the 50-period MA is currently above the 200-period MA, indicating a possible medium-term bearish bias.

MACD & RSI
The MACD line crossed below the signal line at 08:45 ET, aligning with the bearish move. RSI fell into oversold territory at 0.1442, signaling potential near-term buying interest. However, a failure to rebound above 30 suggests continued selling pressure may persist.

Bollinger Bands
Price broke below the lower Bollinger Band at 08:45 ET, suggesting a high-volatility sell-off. The 15-minute range widened, with price fluctuating between 1.5% and 1.8% during the final 6 hours of the session.

Volume & Turnover
Volume spiked to 68,608 contracts at 08:45 ET as price fell to $0.1489, coinciding with a large notional turnover of approximately $10,300. The divergence between price and turnover in the final 45 minutes of the session, however, suggests weakening bearish conviction.

Fibonacci Retracements
On the 15-minute swing from $0.1533 to $0.1442, key levels include 38.2% at $0.1494 and 61.8% at $0.1474. Price stalled at the 61.8% level for several hours before breaking down to $0.1469, suggesting the level acted as a temporary floor.

Backtest Hypothesis
A backtesting strategy that enters short positions upon a 15-minute bearish engulfing pattern and a RSI drop below 30 may align well with the observed price behavior. Adding stop-loss levels just above key resistance such as $0.1493 and $0.1501 could help manage risk. Traders may consider exiting longs or scaling into shorts as the 15-minute MACD confirms bearish momentum.