Market Overview for Prom/Tether (PROMUSDT)

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Thursday, Jan 8, 2026 11:30 pm ET1min read
PROM
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Aime RobotAime Summary

- PROMUSDT dropped from $6.88 to $6.50 amid surging volume, forming a bullish engulfing pattern near $6.55.

- RSI hit oversold levels (25) and MACD showed flattening bearish divergence, signaling potential short-term rebound.

- Bollinger Bands widened during the selloff, with price stabilizing near the lower band and forming a potential base.

- Fibonacci support at $6.60-6.66 and 200-day MA proximity suggest possible near-term consolidation or countertrend rally.

Summary
• Price dropped from $6.88 to $6.51 during early hours before consolidating in the $6.55–$6.60 range.
• Volume spiked during the sharp decline, confirming bearish momentum but failed to follow through.
• A 5-minute bullish engulfing pattern emerged near $6.55, hinting at potential short-term reversal.
• RSI hit oversold territory, suggesting a possible near-term bounce, while MACD shows flattening bearish divergence.
• Volatility expanded during the selloff, with Bollinger Bands widening significantly.

Prom/Tether (PROMUSDT) opened at $6.884 at 12:00 ET−1, reached a high of $6.91, and fell to a low of $6.50 before closing at $6.742 at 12:00 ET. Total volume for the period was 174,905.02 units, with a notional turnover of $1,173,032.40.

Structure & Formations


Price action showed a sharp bearish breakdown below $6.80, with a 5-minute bullish engulfing candle forming at $6.55 as buyers stepped in. A key support level appears to be developing around $6.50–$6.55, with resistance re-testing near $6.65–$6.70. The candlestick pattern suggests a potential short-term bounce after the overselling.

Moving Averages


Short-term 20-period and 50-period moving averages on the 5-minute chart remained bearish, reflecting downward momentum. Daily 50-period, 100-period, and 200-period moving averages showed a mixed bias, with price currently hovering just above the 200-day MA, suggesting a potential test of trendline relevance.

MACD & RSI


RSI hit an oversold level near 25 during the selloff, signaling a potential bounce. MACD showed bearish divergence during the decline, as price fell without significant momentum, but the histogram has flattened, hinting at weakening bearish energy. A bullish MACD crossover could trigger a countertrend rally.

Bollinger Bands


Bollinger Bands expanded significantly during the selloff, with price bottoming near the lower band at $6.50. The recent consolidation suggests volatility is easing, and price appears to be forming a potential base within the bands, which could lead to a re-test of the upper band at $6.75–$6.80.

Volume & Turnover


Volume surged during the initial bearish breakdown, confirming the move, but has since declined as price stabilized. Notional turnover spiked during the selloff but has remained flat since. The lack of follow-through volume suggests a potential short-term exhaustion of selling pressure.

Fibonacci Retracements


Fibonacci levels on the 5-minute swing from $6.91 to $6.50 show key support at 61.8% ($6.60) and 78.6% ($6.66). A potential rebound from these levels could target the 50% retracement at $6.71. Daily Fibonacci levels suggest support at $6.65 and resistance at $6.78.

Price may find near-term support at $6.60 and resistance at $6.75 in the next 24 hours. Investors should remain cautious of a potential pullback or continuation of the consolidation phase.