Market Overview: Prom/Tether (PROMUSDT) – October 4, 2025

• PROMUSDT opened at $9.907, rose to $10.126, then closed at $9.998, with a 24-hour volume of 107,589 units and $1,064,328 turnover.
• Price formed a bullish reversal pattern from a 24-hour low at $9.827, suggesting possible short-term support near $9.85–$9.90.
• RSI oscillated near overbought levels in the morning, then retraced, indicating reduced momentum and potential consolidation.
• Bollinger Bands widened after the $10.063 high, indicating increased volatility amid mixed price action.
• Volume surged during the $10.034 close (13:30 ET), but diverged from price in the afternoon, signaling caution for near-term direction.

24-Hour Snapshot

Prom/Tether (PROMUSDT) opened at $9.907 at 12:00 ET–1 on October 3, 2025, and rose as high as $10.126 before closing at $9.998 at 12:00 ET on October 4. The pair traded between $9.827 and $10.126, with a total volume of 107,589 units and a notional turnover of approximately $1,064,328 over the 24-hour period. The price action displayed a sharp midday rally and a consolidation phase in the late hours of the day.

Structure & Key Levels

The 24-hour candlestick pattern showed a bearish consolidation following a strong bullish push from $9.95 to $10.063. A key support level appears to form near $9.95–$9.97, with a prior rejection at $10.063 acting as an initial resistance. The session also displayed a bullish harami pattern during the 03:15–03:30 ET hour, signaling potential reversal, while a long lower shadow at the 03:30–03:45 candle suggested buyers attempted to defend the $10.04 level. A potential bearish engulfing pattern emerged in the 12:45–13:00 ET window, hinting at a possible short-term pullback.

Momentum and Volatility Indicators

The RSI reached overbought levels in the early hours, peaking near 68, before retreating into neutral territory by the end of the session, indicating waning bullish momentum. The MACD line crossed below the signal line in the late afternoon, signaling a bearish crossover and suggesting a potential shift in trend bias. Bollinger Bands showed a significant expansion after the $10.063 high, with price closing near the lower band by the session end, indicating increased volatility and a possible pullback to the mid-band at $9.98–$10.00.

Volume and Turnover Analysis

Volume spiked during the $10.034 close at 13:30 ET, but declined during the afternoon, with a divergence between price and volume observed after 14:30 ET, indicating weakening buying pressure. Turnover was uneven, with the largest spikes occurring during the early rally and the afternoon pullback, suggesting a tug-of-war between bullish and bearish forces. The largest single candle by volume occurred at 15:30 ET, where 5,736 units were traded as price dipped from $10.047 to $9.971, pointing to a potential short-term bearish exhaustion.

Fibonacci Retracements and Key Swings

Applying Fibonacci retracements to the key swing from $9.827 (13:00 ET) to $10.126 (03:30 ET), the 23.6% level ($10.028) was tested and rejected, followed by a pullback to the 38.2% level ($9.985), where price appears to have found some support. The 61.8% level at $9.940 may act as a deeper support zone if the current consolidation breaks downward.

Backtest Hypothesis

For the backtest strategy, a potential approach could be to enter longs on a bullish engulfing or harami pattern near key support levels, such as $9.95–$9.97, with a stop-loss placed below the 61.8% Fibonacci level at $9.940. A short entry could be considered on a bearish engulfing or hanging man pattern near resistance at $10.00–$10.03, with a stop above the mid-Bollinger band. RSI divergence and volume confirmation could serve as filters to enhance signal reliability.