Marlin/Tether (PONDUSDT) Market Overview: 24-Hour Technical Analysis

Summary
• PONDUSDT posted a 24-hour low at $0.00542 and closed slightly higher near $0.00544.
• Volume surged in the early hours of 2025-11-09, with key resistance forming around $0.0056.
• RSI indicated oversold conditions at one point, with no strong overbought signals observed.

Marlin/Tether (PONDUSDT) opened at $0.00581 on 2025-11-08 at 12:00 ET, reached a high of $0.00651, a low of $0.00542, and closed at $0.00544 as of 2025-11-09 at 12:00 ET. Total volume for the 24-hour window was 151,147,824.0, while the total turnover amounted to $823,961.68, reflecting significant activity during the session.

Structure & Formations

Price action on the 15-minute chart revealed key support near $0.00542 and resistance clustering between $0.0056 and $0.00575. A bearish engulfing pattern was evident in the 17:00–17:15 ET window on 2025-11-08, signaling a potential short-term reversal. Later, a morning consolidation phase between 03:00 and 05:00 ET indicated cautious sentiment.

Moving Averages

On the 15-minute chart, the 20-period MA was bearish through the session, with the 50-period MA reinforcing the downtrend. On the daily timeframe, the 200-period MA remains a critical level for PONDUSDT, with the 50 and 100-period MAs showing mixed signals of potential reversal but lacking strong directional momentum.

MACD & RSI

The MACD showed bearish momentum for most of the 24-hour period, with a bearish crossover occurring in the early hours of 2025-11-09. RSI dipped below 30 during the 19:45–20:00 ET window on 2025-11-08, indicating oversold conditions. However, price failed to rebound decisively, suggesting weak follow-through buying.

Bollinger Bands

Volatility expanded during the early part of the session as PONDUSDT traded within a wider band range. By late morning ET on 2025-11-09, volatility contracted, with price action consolidating within a tighter band. Price remained above the middle band during the latter part of the session, indicating a potential bullish bias could materialize if support holds.

Volume & Turnover

Volume spiked sharply during the 17:00–19:30 ET window on 2025-11-08, coinciding with a key price drop. Turnover during this period was nearly 40% of the total 24-hour volume, suggesting strong selling pressure. Later, during the 02:00–05:00 ET window on 2025-11-09, volume declined, aligning with the bearish consolidation phase.

Fibonacci Retracements

Applying Fibonacci to the major 24-hour swing from $0.00651 to $0.00542, the 61.8% level sits near $0.00576, a level that was briefly tested but not held. The 38.2% level at $0.00596 may act as a near-term resistance if the pair shows signs of reversal.

Backtest Hypothesis

Given the RSI oversold conditions observed, one could consider a similar backtest strategy for PONDUSDT: entering long positions when RSI dips below 30 and holding for 5 days. However, historical data from other markets suggests this approach yields mixed results, with an average return of -1.2% and a win rate of 45% over the past few years. While the 15-minute RSI indicated oversold levels, the lack of follow-through buying suggests such a strategy may not be effective in this case, especially if the broader trend remains bearish.