Market Overview for Prom/Tether (PROMUSDT)

Summary
• Prom/Tether (PROMUSDT) fell to 6.838 intraday before rebounding to close near 6.966, forming a bullish reversal pattern.
• Strong volume spiked during the early morning ET dip and confirmed a rebound.
• RSI and MACD signaled oversold conditions, suggesting a potential short-term bounce.
• Bollinger Bands widened, indicating rising volatility amid a key 7.0–7.1 resistance cluster.
• Fibonacci levels at 6.94 and 7.03 appear to guide near-term directional bias.

24-Hour Performance

Prom/Tether (PROMUSDT) opened at 7.915 on 2026-01-13 at 12:00 ET, reached a high of 7.921, and hit a low of 6.838 before closing at 6.966 on 2026-01-14 at 12:00 ET. Total volume amounted to 528,812.09, with a notional turnover of 3.76 million USD.

Structure and Momentum

The price experienced a sharp 11.7% decline from 7.915 to 6.838 over six hours, forming a bearish exhaustion pattern. A strong rebound followed, capped at 7.059–7.064, with a potential bullish engulfing pattern forming as price retested 6.95. RSI bottomed below 30 during the morning hours, signaling oversold conditions, while MACD crossed back into positive territory, hinting at stabilizing momentum.

Volatility and Volume

Bollinger Bands expanded during the deep correction and have since narrowed, suggesting a pause in directional volatility. Volume surged during the 6:00–7:30 ET rebound, particularly in the 21:45–22:30 ET time frame when price bottomed. Notional turnover increased in line with the price rebound, suggesting a more coordinated buy-side response than a mere dead cat bounce.

Key Levels and Fibonacci

Immediate support is now at 6.94–6.95 (61.8% Fibonacci of the 6.838–7.064 rebound), with resistance forming at 7.03–7.05 (38.2% level). A sustained close above 7.064 could target 7.1–7.13, but traders should watch for a potential pullback into consolidation between 6.94 and 7.05.

The market appears to be stabilizing after a sharp selloff, with early signs of accumulation below 7.00. However, without a clear break of 7.05, further consolidation may occur, and short-term volatility could remain elevated. Investors should monitor the 7.03–7.05 area closely, as a breakdown could reignite bearish sentiment.