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

• Marlin/Tether (PONDUSDT) opened at $0.00808 and closed slightly higher near $0.00810, with a high of $0.00815 and low of $0.00788.
• The pair exhibited a bearish mid-day pullback but regained strength in the latter half of the day.
• RSI reached overbought territory near 70, suggesting potential for a near-term pullback.
• Volume surged above 600,000 in the final candle, confirming the late-day rally.
• Bollinger Bands tightened during the early hours, followed by a price break above the upper band.

The Marlin/Tether pair (PONDUSDT) opened at $0.00808 on 2025-10-05 and closed at $0.00811 as of 12:00 ET on 2025-10-06. The 24-hour range spanned from a low of $0.00788 to a high of $0.00815, reflecting moderate volatility. Total volume traded over the 24-hour period reached 6.4 million units, with a notional turnover of approximately $51,200 (calculated using closing prices).

Structurally, the price tested a key support level at $0.00795 in the early evening before bouncing. A notable bullish engulfing pattern emerged between 19:45 and 20:00 ET, followed by a doji at 20:15 ET that signaled indecision. Later in the session, a strong green candle at 06:30 ET pierced the upper Bollinger Band, indicating a breakout from a consolidation phase. A 50-period moving average on the 15-minute chart crossed above the 20-period line, reinforcing the upward bias.

MACD showed a narrowing histogram after midday, then expanded again in the final hours, signaling renewed momentum. RSI climbed to overbought levels (~70) during the last candle, suggesting a potential correction could follow. Bollinger Bands contracted in the early hours, then expanded as volatility increased, with price remaining above the upper band in the final hours. Fibonacci retracement levels at 61.8% (around $0.00795) and 78.6% ($0.00805) were key in identifying turning points.

Volume distribution was relatively balanced across the session, though a sharp spike was observed in the final hours, especially between 06:00 and 09:00 ET, when price moved decisively higher. Notional turnover aligned well with volume, with no significant divergence noted. The late surge in volume suggests strong conviction behind the upward move, particularly as price retested and held above the $0.00800 psychological level.

Backtest Hypothesis
Given the strong closing candle and confirmed breakout above the upper Bollinger Band, a potential short-term bullish strategy could involve entering a long position at the close of the 08:15 ET candle with a stop-loss below $0.00795 and a target aligned with the 0.618 Fibonacci extension at $0.00815–0.00820. The RSI overbought condition and late-volume confirmation suggest a valid setup for a continuation pattern, though traders should monitor for a pullback to test the $0.00805 support level for a more conservative entry.

Looking ahead, the market appears poised for a potential test of $0.00815–$0.00820, but overbought conditions and the possibility of a retracement to the 20-period moving average cannot be ruled out. Investors should monitor volume and RSI divergence closely for early signs of exhaustion. As always, position size should reflect risk tolerance, and trailing stops should be considered for profit protection.