Market Overview for PundiX/Tether (PUNDIXUSDT) – 2025-11-07

Summary
• PUNDIXUSDT traded in a bullish consolidation pattern with a closing high of $0.2984.
• Key resistance is near $0.2900–$0.2950, with support forming around $0.2850–$0.2880.
• Increased volume and turnover indicate strong participation in the late ET hours.

Price Action and Structure

PUNDIXUSDT opened at $0.2757 and surged throughout the day to close at $0.2984 on 2025-11-07 at 12:00 ET. The daily OHLC was $0.2757 / $0.2998 / $0.2733 / $0.2984, with a total volume of 1,003,841.5 and turnover of $287,641.4. The price action showed several bullish engulfing patterns and a strong move above key psychological levels. The 15-minute candles exhibited a series of higher highs and higher lows after 20:00 ET, signaling strong momentum.

Key Support and Resistance

A strong support level appears at $0.2850–$0.2880, with price bouncing back multiple times during the day. Resistance levels are forming near $0.2900 and $0.2950, with a potential ceiling at $0.2998, the recent high. The area around $0.2850 also hosts a prior 15-minute doji and consolidation, indicating a potential pivot point.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart are rising, aligning with the bullish trend. On a daily basis, the 50/100/200 EMA lines are also trending higher, with the price consistently above the 200-day line. This supports a continuation of the upward bias, though a close below the 50-day MA could trigger short-term profit-taking.

Momentum Indicators

The MACD line crossed above the signal line in the late hours, indicating strengthening bullish momentum. The RSI moved into overbought territory, peaking near 70, suggesting caution for potential pullbacks. The RSI divergence was minimal, but a bearish signal may emerge if the price fails to retest key resistance levels.

Bollinger Bands and Volatility

Volatility expanded significantly during the late ET session, as the price moved beyond the upper Bollinger Band. This suggests a potential retracement to the mid-band, with a retest of the lower band unlikely unless bearish momentum intensifies. The widening bands also point to increased trader uncertainty and activity.

Volume and Turnover Analysis

Total volume reached 1,003,841.5 with $287,641.4 in turnover, concentrated in the 19:00–21:00 ET timeframe. Price and volume moved in alignment during the breakout, confirming the bullish sentiment. A notable spike at $0.2958–$0.2970 suggests accumulation, while lower volume in the last 15-minute candle may signal exhaustion at the top of the range.

Fibonacci Retracements

Fibonacci levels drawn from the $0.2733 low to the $0.2998 high show 61.8% at $0.2885 and 78.6% at $0.2942. The price found a temporary ceiling at the 78.6% level before surging higher. The 61.8% level is showing strong resistance and may act as support on a pullback.

Backtest Hypothesis

A practical backtest strategy involves using a daily 14-period RSI to generate buy and sell signals. Unfortunately, the current data source cannot locate the RSI for PUNDIX/USDT. A potential workaround is to use a different symbol (e.g., from a supported exchange like KUCOIN:PUNDIXUSDT or a USD-paired variant) or to manually provide a CSV/JSON with at least “date, close” data to calculate the RSI internally. Both approaches could allow for a robust backtest to validate the effectiveness of the RSI-based strategy in this market.