Market Overview: PundiX/Tether (PUNDIXUSDT) 24-Hour Analysis on 2025-10-10

• PundiX/Tether (PUNDIXUSDT) closed at 0.2962, down from 0.308 after a volatile 24-hour session with a key bearish reversal in the final hours.
• Momentum shifted sharply lower with RSI nearing oversold levels and a sharp volume spike at the close.
• Bollinger Bands show increasing volatility in the last 8 hours, while price broke below key Fibonacci levels.
• A large 15-minute candle near 0.3088 acted as a distribution zone before the downward collapse.
• Final 15-minute candle recorded the highest volume (86,288.6) and largest price drop (0.308 → 0.2962).

PundiX/Tether (PUNDIXUSDT) opened at 0.308 on 2025-10-09 at 12:00 ET, reached a high of 0.3105, and closed at 0.2962 on 2025-10-10 at 12:00 ET. The 24-hour session saw a total volume of 1.26M and turnover of $395,890. Price action featured a large bearish 15-minute candle just before the 12:00 ET close, signaling a distribution pattern.

Structure & Formations

Price formed a bearish engulfing pattern in the 034500–040000 ET window as 0.3085 gave way to 0.3072. A key support level at 0.3054 was briefly tested before a large volume-driven breakdown below 0.3038 later in the session. A final bearish reversal candle at the close, opening at 0.308 and closing at 0.2962, confirmed exhaustion at the top and flagged a high-probability short-term selloff.

Moving Averages

On the 15-minute chart, price closed below the 20- and 50-period moving averages (20-MA ≈ 0.3068, 50-MA ≈ 0.3072), signaling bearish momentum. On the daily timeframe, the 50- and 100-period MAs were converging around 0.306–0.307, suggesting a potential short-term support cluster in that range.

MACD & RSI

MACD turned negative around 034500 ET and crossed below the signal line, confirming bearish momentum. RSI reached overbought territory above 61.8 in early trading, but collapsed to 31 by the close, suggesting oversold conditions and potential for a bounce in the short term. However, the sharp drop indicates aggressive short-term selling pressure.

Bollinger Bands

Volatility expanded significantly in the final 8 hours, with the Bollinger Band width increasing by ~25% as price dropped below the lower band at 0.2962. A contraction phase occurred earlier in the session around 030000–040000 ET, forming a false breakout before the breakdown.

Volume & Turnover

Volume spiked to 86,288.6 in the final 15-minute candle, with a turnover of $26,133, marking the highest single-candle turnover. This volume was accompanied by a 0.112-point price drop—indicating strong bearish confirmation. Earlier, volume was relatively subdued during the overbought phase, suggesting a lack of conviction in the bullish move.

Fibonacci Retracements

On the 15-minute chart, price broke below the 61.8% retracement level at 0.3054, with the next key support expected at 0.3038. The daily chart retracement from the 0.3105 high to the 0.2943 low shows 0.2995 as the 38.2% level and 0.2976 as the 61.8% level—both likely to be tested in the next 24–48 hours.

Backtest Hypothesis

Given the bearish engulfing pattern, strong volume confirmation at the close, and RSI in oversold territory, a potential short-term reversal bounce may occur. A backtest strategy could involve entering a long position at 0.2943 (Fib 61.8), with a stop loss below 0.2925 and a target at 0.2975. Alternatively, a short bias could be maintained until price breaks above 0.3038 with volume confirmation. The key would be to wait for a retest of the 0.3038–0.3054 support range before committing to a reversal trade. This aligns with the MACD and RSI divergence observed as price hit the lower band.