Market Overview for Pundi X (PUNDIXUSDT) on 2025-07-17

• Pundi X (PUNDIXUSDT) traded in a range between 0.3337 and 0.3508 over 24 hours, with a late afternoon breakout attempt.
• Price closed near 0.3415 after forming a bearish engulfing pattern at the 15-minute level.
• RSI signaled overbought conditions earlier in the day, followed by bearish divergence.
• Volatility expanded in the morning, then contracted in the evening with a consolidation pattern.
• Turnover surged during the early hours of July 17, suggesting increased participation.

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Price Action and Range Behavior

Pundi X (PUNDIXUSDT) opened at 0.3442 on July 16 at 12:00 ET and rose to a high of 0.3508 before reversing in the early hours of July 17. The pair spent most of the session in a bearish consolidation pattern, forming a descending triangle with key support at 0.346 and resistance near 0.349. The final candle at 12:00 ET on July 17 closed at 0.3415, indicating a bearish continuation.

Moving Averages and Trend

On the 15-minute chart, the 20-period and 50-period moving averages crossed bearishly, reinforcing the downward drift. The 50-period line acted as a dynamic resistance during the morning hours. On the daily chart, the 50, 100, and 200-period lines aligned closely, suggesting a lack of strong directional bias but with a slight bearish tilt.

Momentum and Overbought Conditions

Relative Strength Index (RSI) reached overbought territory (above 70) in the early evening of July 16, but failed to confirm a bullish reversal. A bearish divergence formed between price and RSI in the late hours of July 16, signaling potential weakness. The MACD line crossed below the signal line around 00:00 ET on July 17, confirming a bearish momentum shift.

Volatility and Bollinger Bands

Bollinger Bands expanded during the early hours of July 17, reflecting increased volatility as price tested the lower band and bounced. A contraction followed in the afternoon, indicating a consolidation phase. Price remained within the band width for most of the session, with the lower band acting as a key support level.

Volume and Turnover Dynamics

Total volume for the 24-hour period reached 1,548,461.3, with a significant spike in the early morning hours. Notional turnover was driven by large-volume candles between 00:00 and 04:00 ET, where price declined sharply. A divergence between volume and price was observed in the late afternoon as volume waned despite continued bearish movement.

Fibonacci Retracements and Key Levels

Fibonacci retracements drawn from the 0.3442 to 0.3508 swing identified key levels at 0.3479 (38.2%) and 0.3462 (61.8%). Price found support at the 61.8% level and tested it twice during the session. On the daily chart, a 61.8% retracement of the recent bullish leg from 0.3485 to 0.3502 was observed at 0.3493, where price stalled and reversed.

Pundi X may continue to consolidate within the 0.3400–0.3460 range in the next 24 hours, with a potential test of the 0.3380 support level. Traders should remain cautious of a possible breakout attempt if volume surges and RSI shows renewed bullish momentum. As always, sudden news or macro shifts could trigger unexpected volatility.