Market Overview for PundiX/Tether (PUNDIXUSDT)

Summary
• Price declined from 0.2837 to 0.2701, forming bearish momentum and key support levels.
• High volume at 1949751.4 and low of 0.271 indicate potential consolidation near 0.27.
• RSI and MACD signal oversold conditions, hinting at possible near-term bounce.

PundiX/Tether (PUNDIXUSDT) opened at 0.2826 on 2025-11-04 at 12:00 ET, reached a high of 0.2854, and closed at 0.2701 on 2025-11-05 at 12:00 ET. The pair recorded a 24-hour volume of 6,598,411.1 and a notional turnover of approximately 1,784,624.7 USDT. Price action indicates bearish exhaustion with potential for a short-term rebound.

Structure & Formations

The price formed multiple bearish patterns including a Bearish Engulfing and a dark cloud cover around 0.278–0.281, confirming bearish sentiment. Key support levels are forming at 0.271–0.273 and 0.267–0.268, with resistance visible at 0.278–0.282. A potential bullish reversal could emerge if price holds above 0.271 and breaks 0.278.

Moving Averages

On the 15-minute chart, price is below both the 20- and 50-period moving averages, reinforcing the bearish trend. The 50-period line is descending, indicating continued selling pressure. On the daily chart, the 200-period moving average sits at approximately 0.273, suggesting that the current price is in oversold territory relative to long-term averages.

MACD & RSI

The RSI is currently around 25, indicating oversold conditions, while the MACD histogram is bearish with the line below the signal line. However, the divergence between RSI and price suggests a potential countertrend bounce in the short term.

Bollinger Bands

Price is currently near the lower band of a contracting Bollinger Band, with volatility at a multi-day low. A breakout above 0.274 could signal a reversal and expansion in volatility. The current price range sits within a 0.267–0.285 band, with the midline at 0.276.

Volume & Turnover

Volume surged at 0.271 with a notional turnover of over 1.9 million USDT, reinforcing the significance of this level. Turnover is positively correlated with price declines, indicating that selling pressure has been consistent. A drop in volume during consolidation suggests waning bearish conviction.

Fibonacci Retracements

Fibonacci levels on the 15-minute chart highlight key retracements at 0.274 (38.2%), 0.277 (61.8%), and 0.280 (78.6%). On the daily chart, the 61.8% retracement sits at 0.275, aligning with the 50-period MA and providing a potential target for bullish follow-through.

Backtest Hypothesis

Given the bearish engulfing patterns observed and the oversold RSI, a potential backtesting strategy could be to enter a short position at the close of the engulfing pattern and exit when price rises back above the 50-period moving average. A stop-loss could be placed just above the most recent resistance at 0.278 to manage risk. This approach could be tested on PUNDIXUSDT with a next-day open entry and daily close-based exits using a 50-period SMA crossover as the trigger.