Market Overview for PundiX/Tether (PUNDIXUSDT) on 2025-10-07

• PundiX/Tether (PUNDIXUSDT) declined by 5.7% over the last 24 hours, with bearish momentum gaining traction.
• Key support found around 0.316–0.318, with RSI signaling oversold conditions below 30.
• Volatility spiked after 13:00 ET as price fell below 0.320, with volume surging past $178K.
• A long lower shadow at 06:45 ET and a doji at 08:15 ET suggest possible short-term consolidation.
• Price remains below 15-minute and daily moving averages, pointing to ongoing bearish pressure.

Price and Volume Summary

PundiX/Tether (PUNDIXUSDT) opened at 0.324 on 2025-10-06 12:00 ET and closed at 0.3119 by 2025-10-07 12:00 ET, hitting a high of 0.3254 and a low of 0.3101. The total 24-hour volume was 707,159.1 units, while notional turnover amounted to approximately $221,935. A sharp breakdown occurred after 13:45 ET, accelerating the decline into the 15:00–16:00 ET window.

Structure & Formations

The price structure showed a strong bearish bias throughout the day. A key support level appears to have formed at 0.316–0.318, where the price found temporary refuge after a long sell-off. A long lower shadow candle formed at 06:45 ET and was followed by a doji at 08:15 ET, signaling potential exhaustion in the downward move. A bearish engulfing pattern was visible near 0.320–0.322 between 13:00 and 13:45 ET, confirming bearish sentiment.

Moving Averages and Momentum

PUNDIXUSDT has remained below both 20 and 50-period 15-minute moving averages, and is also below the 50, 100, and 200-period daily averages. This reinforces a bearish bias. The RSI fell to 27 by 15:15 ET, suggesting oversold conditions, though a bounce could still be temporary. MACD remained in negative territory with a bearish crossover, indicating sustained downward momentum.

Bollinger Bands and Volatility

Volatility spiked sharply after 13:00 ET as the price moved from the upper to the lower band of the 20-period Bollinger bands. This contraction and expansion pattern is typical of a breakout or breakdown phase. By the end of the session, price had settled near the lower band, suggesting continued bearish bias, but also hinting that a reversal could occur if the price tests this support again.

Volume & Turnover Analysis

Volume surged to a 24-hour peak of $178K at 15:15 ET, coinciding with the price drop below 0.315. This was followed by a strong bearish move to 0.3101 by 15:45 ET, where volume remained elevated. Turnover confirmed the bearish move, with price and turnover aligning in the downward direction. However, a divergence appears at 08:15 ET when volume dropped slightly despite continued price decline, hinting at potential short-term indecision.

Fibonacci Retracements

Applying Fibonacci retracements to the key 0.3246–0.3101 swing shows that the price found short-term support at the 61.8% level around 0.316–0.318. If the price holds here, it could signal a temporary consolidation. On a daily chart, the 38.2% retracement level at ~0.319 is currently a key watchpoint for potential short-term reversal.

Forward Outlook and Risk Consideration

Over the next 24 hours, PUNDIXUSDT is likely to test the 0.316–0.318 support zone, with a possible bounce if RSI rises above 30. However, a break below this level could accelerate the decline toward 0.310–0.308. While the bearish trend appears strong, traders should remain cautious of potential short-covering bounces.

Backtest Hypothesis

A potential backtesting strategy could involve entering a short position upon a confirmed break of the 20-period moving average on the 15-minute chart, combined with a RSI below 30 and a bearish divergence in volume. A stop-loss could be placed just above the nearest resistance level, while the target could be the next Fibonacci retracement or a 5–7% move lower. This approach aligns with the observed bearish engulfing patterns and MACD confirmation seen in today's data, making it suitable for a medium-risk, short-term strategy.