Market Overview for PundiX/Tether (PUNDIXUSDT) on 2025-10-06

• PundiX/Tether (PUNDIXUSDT) opened at $0.3233 and closed at $0.3201 after a 24-hour range of $0.3148 to $0.3245.
• A bearish trend emerged post-early morning peak, with a sharp drop followed by consolidation and a tentative rebound.
• Volume spiked during the decline but remained muted in the latter half, suggesting reduced conviction in the move.
• RSI dipped into oversold territory mid-day, hinting at possible near-term stabilisation.
• Bollinger Bands contracted early, then expanded during the pullback, indicating increased short-term volatility.

24-Hour Price Action and Volume Summary

PundiX/Tether (PUNDIXUSDT) opened at $0.3233 on 2025-10-05 at 12:00 ET and closed at $0.3201 at 12:00 ET on 2025-10-06. The 24-hour period saw a high of $0.3245, a low of $0.3148, and total volume of 683,222.60 units with a turnover of $216,297.36. The price action revealed a bearish bias during early morning hours, with a sharp drop from $0.321 to $0.3148, followed by a gradual rebound into the afternoon. The move appears to be part of a larger consolidation pattern, with key levels forming near $0.318 and $0.321.

Structure & Formations

The daily session displayed a bearish breakdown from key resistance at $0.3210, where the price failed to maintain above $0.3205 following a failed attempt to rally in the morning. Notable candlestick patterns include a bearish engulfing formation at $0.3210–$0.3195 and a hanging man pattern near $0.3205–$0.3201, suggesting further downside is possible. A key support level appears forming near $0.3170–$0.3180, which has acted as a floor twice in the last 24 hours and may serve as a potential short-term bounce area. A bearish flag pattern is also emerging between $0.3205 and $0.3170, with volume confirming the breakdown.

MACD & RSI

The RSI on the 15-minute chart dipped below 30 during the morning low and showed tentative signs of bottoming at $0.3148, indicating a potential short-term oversold condition. However, divergence between RSI and price was observed during the rebound, with the RSI failing to rise above 40 while price climbed. The MACD line crossed below the signal line around $0.3175, confirming bearish momentum. Negative MACD divergence in the late morning suggests bearish continuation could be expected in the near term, though a bullish crossover in the afternoon hinted at short-term stabilisation.

Bollinger Bands and Volatility

Bollinger Bands showed a narrow contraction early in the session, followed by a sharp expansion during the mid-morning pullback. This indicates a potential shift from low volatility to higher volatility, with the price trading near the lower band during the decline. By late afternoon, the price remained near the lower band, reinforcing bearish bias. The widening bands suggest increased uncertainty and a potential for price to continue testing support levels or possibly retesting the upper band if a bullish reversal occurs.

Volume and Turnover Analysis

The largest volume spike occurred at 06:45 ET, where 259,499.2 units were traded with a turnover of $83,599.51. This was followed by a smaller but still notable spike at 06:30 ET, with $8,182.70 in turnover. These peaks coincided with key support and resistance levels and appear to confirm the breakdown of the $0.3210 level. In contrast, the rebound after 09:00 ET saw a much lower volume profile, suggesting reduced conviction among buyers. A divergence between price and turnover is evident during the afternoon rebound, which could signal that the upward move lacks strong follow-through.

20/50 EMA and Fibonacci Retracements

The price closed near the 50-period EMA on the 15-minute chart, indicating a possible continuation of the bearish trend unless the 20 EMA is retested and potentially crossed. The Fibonacci retracement levels for the recent swing from $0.3148 to $0.3235 showed key levels at 61.8% (~$0.3188) and 38.2% (~$0.3199), both of which have acted as temporary floors in the last 24 hours. The 61.8% retracement level appears to have failed as a strong support, with the price breaking below it after 08:00 ET.

Backtest Hypothesis

Given the bearish bias and key support levels near $0.3180, a potential backtesting strategy might involve a short entry on a close below $0.3175 with a stop above $0.3205. This would align with the Fibonacci and EMA breakdown levels observed in the last 24 hours. A take-profit target could be set at $0.3148, the recent low. The strategy would be most effective in a low-volatility environment and would require confirmation from RSI and MACD divergence to avoid false breakouts. This approach leverages the observed volume and price action divergence as a signal for potential trend continuation.