Market Overview for Prom/Tether USDt (PROMUSDT)

• Price action shows a volatile 24-hour range, declining from 9.146 to 9.072 before a partial recovery.
• Momentum suggests overbought conditions late in the session, though RSI remains neutral.
• Bollinger Bands indicate moderate volatility with price near the middle band late in the session.
• Volume surged during the recovery phase, suggesting accumulation but limited follow-through.

Prom/Tether USDt (PROMUSDT) opened at $9.146 on 2025-09-09 at 12:00 ET and reached a high of $9.146. It dipped to a low of $9.072 before closing at $9.103 at 12:00 ET on 2025-09-10. The 24-hour volume totaled 18,454.37, with a notional turnover of $167,371.34. The pair exhibited choppy movement early in the session, with a sharp decline, followed by a recovery into the afternoon.

Structure & Formations

The 15-minute candlestick pattern showed a strong bearish bias early in the session, with a long-bodied candle closing near its low, followed by a continuation pattern. A key support level emerged around $9.072, which held during several pullbacks. A bullish reversal pattern was observed in the late afternoon as the price surged above the mid-range of the prior bearish move. No significant doji or engulfing patterns were formed during the session, suggesting that buyers and sellers remained active but without strong directional conviction.

Moving Averages

The 20 and 50-period moving averages on the 15-minute chart intersected multiple times during the session, indicating a high volatility environment. Price generally closed above the 20-period MA but oscillated around the 50-period MA, which acted as a dynamic resistance. On the daily chart, the 50-period moving average sits at $9.090 and appears to offer moderate resistance, while the 200-period MA at $9.080 suggests a potential floor for further declines.

MACD & RSI

The MACD histogram displayed a bearish divergence early in the session, aligning with the sharp decline. However, a bullish crossover occurred in the late afternoon, coinciding with the price recovery. The RSI remained within the 50–65 range for most of the session, indicating moderate bullish momentum, without reaching overbought territory. The late afternoon rally pushed RSI closer to overbought, hinting at possible profit-taking but not confirming a reversal.

Bollinger Bands

Bollinger Bands showed a moderate expansion in the early morning hours as volatility increased. By midday, the bands began to contract slightly, indicating a period of consolidation. The price spent much of the session trading near the middle band, with a breakout toward the upper band occurring in the late afternoon. This breakout may indicate a temporary shift in sentiment, but further confirmation is needed for it to hold as a trend.

Volume & Turnover

Volume was concentrated during the late morning and afternoon hours, with the largest single 15-minute volume spike occurring at 15:45 ET. The turnover mirrored the volume spikes, with the strongest accumulation seen in the recovery phase. There were no significant volume divergences, meaning that price movements were generally supported by increasing or stable volume. A divergence in volume could hint at fading momentum, but that was not observed in this 24-hour window.

Fibonacci Retracements

Applying Fibonacci retracement levels to the 15-minute move from $9.146 to $9.072, the 38.2% retracement level at $9.099 was tested and held as a support. The 61.8% retracement at $9.122 was also briefly reached in the late afternoon but not confirmed as a turning point. These levels could become significant for the next 24 hours if the price attempts to retest the lower or upper range.

Backtest Hypothesis

The backtest strategy involves using the 50-period moving average as a dynamic support/resistance line and combining it with a bullish RSI crossover above 50 to identify potential short-term entry points. Given the recent price action, a long position could be considered if the price crosses above the 50-period MA and RSI confirms with a bullish signal. Exit rules might include a take-profit at the nearest Fibonacci level or a trailing stop based on volatility. This strategy would likely perform best in a moderate volatility environment, such as the one observed today, where the price showed clear but not extreme directional movement.