Market Overview for Prom/Tether (PROMUSDT): 2025-11-12 12:00 ET

• Prom/Tether surged over 12 hours, peaking at $10.98 before consolidation.• Strong momentum driven by bullish divergences and high-volume buying in early morning ET.• Volatility dipped near 17:00–19:00 ET before a sharp rebound.

Market Snapshot

Prom/Tether (PROMUSDT) opened at $9.382 on 2025-11-11 12:00 ET, surged to a 24-hour high of $10.983, and closed at $9.785 as of 2025-11-12 12:00 ET. The total volume over 24 hours was 207,270.72 units, while the notional turnover was approximately $1,824,335. The price action reflects strong bullish sentiment across a large portion of the session.

Structure & Formations

The 15-minute candlestick chart shows a series of bullish engulfing patterns and higher lows from 02:00 to 05:00 ET, followed by a consolidation phase. A notable bearish doji formed at 14:15–14:30 ET as the price pulled back toward $9.636, signaling potential exhaustion in the short-term upward move. The 24-hour range appears to have carved out a new support level at approximately $9.62, with a resistance forming near $10.50.

Moving Averages

On the 15-minute chart, the price closed above both the 20-period and 50-period moving averages in the early session, indicating short-term bullish momentum. However, by late afternoon, the 20-period MA dipped below the 50-period MA, suggesting a possible slowdown in upward momentum. On the daily chart, the 50-period MA is above the 100- and 200-period lines, maintaining a positive bias for the intermediate trend.

MACD & RSI

The MACD crossed above the zero line and remained positive until 12:00 ET, reflecting strong momentum in the early morning. Divergence emerged around 14:00–16:00 ET, with price making a higher high while MACD made a lower high, potentially signaling an overbought condition. The RSI peaked at 82 in the early morning, then dropped to the mid-60s by 14:00 ET, suggesting the market may be entering a phase of profit-taking.

Bollinger Bands

Volatility expanded significantly from 02:00 to 04:30 ET as the price moved toward the upper Bollinger Band, indicating strong buying pressure. The bands then contracted from 14:00–16:00 ET, suggesting reduced volatility and potential consolidation. As of the 24-hour close, the price was trading near the middle band, indicating a neutral position between overbought and oversold conditions.

Volume & Turnover

Volume spiked to over 20,000 units during the 02:15–02:30 ET period, aligning with a sharp rally to $10.756. Subsequently, volume declined during the consolidation phase, but notable spikes reappeared at 09:00 and 10:15 ET. Turnover mirrored volume patterns and confirmed the strength of the early morning rally, with the total turnover of ~$1.824 million suggesting a strong institutional or large-cap investor footprint.

Fibonacci Retracements

Applying Fibonacci retracement levels to the 02:15–10:15 ET rally shows that the price pulled back to the 61.8% retracement level (~$9.92) before stabilizing. On the daily chart, the 38.2% retracement level (~$10.15) appears to have provided initial resistance during the afternoon pullback. Traders may watch the 61.8% level (~$9.76) as a near-term support.

Backtest Hypothesis

The MACD top divergence strategy, tested over 2022-2025, reveals mixed signals. While the average return after a divergence signal turned positive after the first week, the win rate remained statistically weak, and short-term performance was flat to slightly negative. This suggests that immediate shorting of such signals may not be optimal. Instead, fading the weak short-term moves may yield better results. The divergence events, which include instances where price made higher highs while the MACD line did not, were rare but impactful during the 2025-11-12 rally.