Market Overview for PundiX/Tether (PUNDIXUSDT)

Summary
• PUNDIXUSDT formed bullish and bearish engulfing patterns during key price swings.
• Price traded between 0.2360–0.2392, showing 61.8% Fibonacci retests near 0.2374.
• Late-night volatility surged on high-volume candle, suggesting possible trend reversal.
• RSI showed overbought conditions early, but failed to hold above 55.
• Bollinger Band squeeze resolved with expansion near 0.2360–0.2389 range.

24-Hour Price and Volume Snapshot

On January 1, 2026, at 12:00 ET–1, PUNDIXUSDT opened at 0.2375, reached a high of 0.2390, and a low of 0.2354, closing at 0.2358 as of 12:00 ET on January 2. The pair saw total volume of 398,368.3 and notional turnover of $95,432.86 during the 24-hour period.

Structure & Formations

PUNDIXUSDT formed a bullish engulfing pattern at 0.2383–0.2385 in early evening hours, suggesting short-term bullish momentum. Later, a bearish engulfing pattern emerged near 0.2379–0.2365, reinforcing a potential reversal. A long lower shadow at 0.2365–0.2368 and a high-volume bearish candle at 0.2374–0.2362 indicate indecision and exhaustion.

Moving Averages and Momentum

On the 5-minute chart, the 20-period and 50-period moving averages crossed above price early in the session, hinting at initial bullish bias, but price fell below them by late night. Daily moving averages (50, 100, and 200) are not clearly defined in the 5-minute data but appear to trend slightly lower.

RSI peaked near overbought levels early (59) and declined to 43 by the end of the session, suggesting weakening upward momentum and potential bearish consolidation.

Volatility and Bollinger Bands

Volatility expanded sharply in the overnight hours, particularly between 04:00–05:15 ET as price fell below 0.2366. The 5-minute Bollinger Bands showed a tight squeeze before 02:00 ET, followed by a sharp expansion as price broke down toward the lower band. Price currently resides near the middle band, signaling potential equilibrium or a consolidation phase.

Volume and Turnover Analysis

A sharp increase in volume and turnover occurred in the 00:00–01:00 ET timeframe, especially around the 0.2374–0.2367 range, where a large candle consumed much of the overnight sell-off. Notional turnover spiked at 00:00 ET with a 381,851.10 volume spike, suggesting a potential large player activity or distribution move.

Fibonacci Retracements and Key Levels

Recent swings from 0.2360 to 0.2392 showed retracements hitting the 61.8% level at 0.2374 and the 38.2% level at 0.2378. These levels were key in defining short-term support and resistance. Price action on the 5-minute chart appears to have failed to hold above the 61.8% level, which may indicate bearish continuation.

The next 24 hours could see PUNDIXUSDT testing the 0.2360–0.2354 range for potential support or a rebound toward 0.2374. A failure to hold above 0.2360 could trigger further downside, while a strong reversal above 0.2379 may hint at short-term bullish recovery. Investors should remain cautious due to the volatile and indecisive nature of price action near key Fibonacci levels.