Marlin/Tether Market Overview (PONDUSDT)

• Price action shows bearish pressure after a sharp midday spike
• 24-hour volume increased by 22%, but turnover failed to confirm
• RSI remains in oversold territory, suggesting potential rebound
• Volatility expanded in early morning hours, then compressed into consolidation
• Key support seen at $0.00573; next resistance at $0.00586

At 12:00 ET on 2025-10-29, Marlin/Tether (PONDUSDT) opened at $0.00585, hit a high of $0.00593, and closed at $0.00588, with a low of $0.00573. The 24-hour volume totaled 36,366,480, and notional turnover was $208,832. Price action shows mixed momentum with a morning spike and afternoon pullback.

Structure & Formations

Price formed a bullish harami around 18:00 ET and a bearish engulfing pattern at 20:30 ET, signaling a shift in sentiment. A key support level at $0.00573 and resistance at $0.00586 appear to be holding. The formation of a small bearish flag after 19:30 ET suggests a potential continuation lower.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA (golden cross) during the 03:45–04:00 ET window, but failed to hold. The 50-period MA is now crossing below the 100-period MA on the daily chart, indicating a bearish bias for the broader trend.

MACD & RSI

The MACD histogram showed bearish divergence in the final 4 hours of the session, suggesting weakening momentum. RSI bottomed at 33 during the 21:00–21:30 ET window, entering oversold territory but failing to trigger a strong rebound. This implies the market may consolidate before resuming the downward move.

Bollinger Bands

Volatility expanded overnight before compressing into a narrow range during the afternoon. Price remained within the upper and lower bands for most of the session, suggesting no breakout intentions. A retest of the upper band at $0.00593 could trigger short-term selling pressure.

Volume & Turnover

Volume increased by 22% compared to the previous 24-hour period, but turnover failed to confirm this with only a 14% rise. This divergence suggests weaker conviction in the price action. The highest volume spikes occurred at 18:30 ET and 22:30 ET, with the latter showing a failed rally to $0.00595.

Fibonacci Retracements

Key retracement levels include $0.00573 (61.8%), which held as strong support, and $0.00586 (38.2%) acting as resistance. Price remains within the $0.00573–$0.00593 range, with a potential for a 38.2% retracement to $0.00586 on a rebound.

Backtest Hypothesis

A backtesting strategy using RSI could be implemented for PONDUSDT. Given the recent oversold conditions and failed rallies, an RSI-based approach—entering on a cross above 30 and exiting below 70—may capture short-term rebounds. A stop-loss at $0.00573 and a take-profit at $0.00593 could manage risk and reward effectively.