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Summary
• Price dropped to $0.2222 on high-volume bearish reversal.
• RSI oversold suggests potential for near-term bounce.
• Bollinger contraction in early ET hours hinted at volatility expansion.
• Volume surged 20x during sharp decline post-00:30 ET.
• 0.2295–0.2305 range shows clustered support with Fibonacci alignment.
PundiX/Tether (PUNDIXUSDT) opened at $0.2404 (12:00 ET−1), peaked at $0.2425, and bottomed at $0.2222 before closing at $0.2287 at 12:00 ET. Total volume hit 476,000, and notional turnover reached $134,248 over 24 hours.
Structure & Formations
The price action formed a deep bearish reversal pattern around 00:30 ET, with a sharp decline from $0.2346 to $0.2222 on high volume. Key support appears near the 0.2285–0.2295 range, aligned with Fibonacci 23.6% retracement of the 0.2222–0.2425 swing. A doji near 01:15 ET and 03:45 ET suggest potential short-term indecision, though the bearish bias remains intact.
Moving Averages
On the 5-minute chart, the 20SMA and 50SMA are in bearish crossover, reinforcing the downward trend. The 50-period MA is at ~$0.2320, suggesting further losses could drive price toward the 100/200SMA levels. Daily averages are not included due to insufficient data in the dataset.
MACD & RSI

Bollinger Bands
Price action showed a clear Bollinger contraction in early ET hours, followed by a widening as volatility increased during the sharp decline. Prices spent most of the session below the lower band, reinforcing the bearish bias. A break above the upper band remains unlikely without a strong positive catalyst.
Volume & Turnover
Volume spiked dramatically after 00:30 ET, coinciding with the price drop from $0.2346 to $0.2222. Notional turnover increased by over 20x during this period, confirming the strength of the bearish move. Volume remained elevated through 03:00 ET but has since declined, suggesting a potential exhaustion in the downtrend.
Forward Outlook & Risk
The price may consolidate near $0.2287–$0.2295 in the near term, with RSI suggesting a potential bounce. However, without a clear rejection of the $0.2261 level, the bearish trend could continue. Investors should monitor volume and order flow for confirmation of any reversal attempts.
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