Market Overview: PundiX/Tether (PUNDIXUSDT) 24-Hour Technical Breakdown

Summary
• PundiX/Tether traded in a tight range early before breaking out after midnight ET.
• Oversold RSI levels in the morning triggered a rebound, but momentum slowed by 17:00 ET.
• Bollinger Band contraction in the early morning preceded a sharp expansion post-00:00 ET.
• High-volume candle at 22:45 ET confirmed a key resistance breakout to 0.3044.
• Turnover surged by 600% at 00:00 ET with a large bullish reversal pattern.

PundiX/Tether (PUNDIXUSDT) opened at 0.3038 at 12:00 ET − 1 and reached a high of 0.3132 before closing at 0.3007 at 12:00 ET. Total volume was 5.67 million contracts, and notional turnover amounted to approximately 1.72 million USDT across the 24-hour period.

The 24-hour OHLCV data shows a distinct reversal pattern in the early morning hours after the price hit a 24-hour low of 0.3007. A large bullish candle at 00:00 ET confirmed a breakout above 0.3044, which appears to be a key psychological resistance level. However, by the afternoon, the pair showed signs of consolidation as price hovered near the 0.3065–0.3075 range. On the 15-minute chart, the 20-period SMA crossed above the 50-period SMA in the early morning hours, signaling a short-term bullish bias.

The RSI indicator confirmed the oversold condition in the morning (dropping to 30) and later showed a divergence from price as the pair rallied after midnight, which may signal a weakening of the momentum. MACD crossed above the signal line in the early morning, reinforcing the bullish outlook, but the histogram began to shrink by 08:00 ET, hinting at a slowdown in upward momentum. Bollinger Bands showed a period of low volatility in the late evening before a sharp expansion at 00:00 ET, aligning with the price breakout.

Volume spiked significantly at 00:00 ET, with a large candle indicating strong buyer participation. However, volume dipped after 14:00 ET as the price consolidated, suggesting that the initial move may have been exhausted. The 24-hour Fibonacci retracement levels show that 0.3044 is a key 61.8% retracement level from the recent high, making it a likely area for further support or resistance.

The backtesting strategy highlights an RSI-based mean-reversion approach to PUNDIXUSDT over a three-year period. Using a 14-day RSI threshold of 30 for entry and a fixed 3-day exit window, the strategy delivered a total return of +65.5%, outperforming the benchmark. While the strategy exhibits a positive expectancy, the drawdown of 43.4% indicates significant volatility and risk. This aligns with the current technical profile, where price is consolidating after a sharp rebound. Traders should remain cautious as the market may experience pullbacks or extended sideways movement in the short term.