Market Overview for Prom/Tether (PROMUSDT) on 2025-12-23

Summary
• Prom/Tether (PROMUSDT) formed bearish engulfing patterns during early morning hours, signaling potential trend exhaustion.
• Price fell 8.2% in 24 hours with a low of $7.033 at 13:30 ET, confirming a breakdown from key support at $7.17.
• Volatility expanded significantly with a 38.2% Fibonacci retracement level at $7.162 acting as immediate resistance.
• Turnover spiked during the 13:30–14:30 ET window, but failed to trigger a reversal, suggesting bearish conviction.
• RSI dropped below 25, while MACD turned negative, indicating short-term oversold conditions and weakening momentum.

Prom/Tether (PROMUSDT) opened at $7.254 on 2025-12-22 at 12:00 ET, reaching a high of $7.389 before closing at $7.238 at 12:00 ET the following day. The pair traded between $7.033 and $7.389, with a total volume of 71,212.31 and a turnover of $521,790.16 over 24 hours.

Structure & Formations

A bearish engulfing pattern emerged at $7.247–$7.216 at 04:45–05:00 ET, suggesting a shift in sentiment. A doji appeared at $7.267–$7.267 at 05:15 ET, indicating indecision. Key support levels were at $7.17 and $7.035, while resistance was seen at $7.238 and $7.25.

Moving Averages

On the 5-minute chart, the price closed below the 20-EMA ($7.242) and 50-EMA ($7.25), reinforcing a bearish bias. Daily data showed the 50-EMA at $7.237, near the 24-hour close, suggesting possible consolidation ahead.

MACD & RSI

The MACD crossed below zero at 04:00 ET, indicating bearish momentum. The RSI reached a low of 23 at 13:30 ET, entering oversold territory, though a strong reversal signal was absent. This suggests further downside may be limited in the short term, but momentum remains weak.

Bollinger Bands

Volatility expanded as the bands widened from $7.22–$7.28 to $7.03–$7.29 over the course of the 24-hour period. Price closed near the lower band, suggesting potential for a reversion or continuation depending on volume follow-through.

Volume & Turnover

Volume surged during the 13:30–14:30 ET window, coinciding with a sharp drop to $7.033, but the price failed to rebound, signaling bearish exhaustion. Notional turnover confirmed the bearish move, with little divergence between price and volume.

Fibonacci Retracements

A 38.2% retracement level at $7.162 became significant as short-term resistance. A 61.8% level at $7.215 offered possible support if the price bounces.

Traders may watch for a test of $7.162 in the next 24 hours, with a risk of further decline should $7.17 break decisively. While oversold conditions suggest a short-term bounce could occur, bearish momentum and low volume at support levels point to cautious positioning ahead.