Market Overview for Prom/Tether (PROMUSDT) on 2026-01-04

Summary
• Price rose from $7.845 to $8.109, forming a bullish engulfing pattern near $7.911–$8.020.
• RSI peaked above 60 but no overbought condition emerged, suggesting measured buying pressure.
• Volume and turnover surged in the 5–8 AM ET window, confirming a breakout above $8.02.
• Bollinger Bands expanded after 6 AM ET, reflecting increased volatility and momentum.
• Key resistance appears at $8.11–$8.15 with next support near $8.03–$8.05.

Prom/Tether (PROMUSDT) opened at $7.845 and closed at $8.109 by 12:00 ET, hitting a high of $8.154 and a low of $7.845. Total volume was 39,596.08, with notional turnover of $314,482.31.

Structure & Formations

Price action showed a bullish breakout above $8.02, confirmed by a bullish engulfing pattern. Key resistance appears at $8.11–$8.15, with prior support at $8.03–$8.05. A doji formed near $8.106–$8.109, hinting at potential short-term consolidation.

Moving Averages and Momentum

On the 5-minute chart, the 20 and 50-period moving averages were bullish, with price above both. RSI climbed to 61.8 at peak momentum but failed to enter overbought territory, indicating controlled buying. MACD showed a positive divergence, suggesting further upside may be limited without strong volume confirmation.

Volatility and Volume Confirmation

Bollinger Bands expanded after 6 AM ET, coinciding with a volume surge. Notional turnover spiked between 5–8 AM ET, confirming the breakout. However, volume declined after 8 AM ET, suggesting some exhaustion in the upward move.

Key Takeaways and Outlook

The price of Prom/Tether appears to have broken out of a defined range with moderate momentum and volume confirmation. A test of $8.11–$8.15 resistance may follow, with a potential pullback to $8.03–$8.05 if buyers falter. Traders should watch for a close above $8.15 for further bullish conviction.

Over the next 24 hours, a sustained move above $8.15 could attract more buyers, but volatility and volume suggest caution in aggressive short-term positioning.