Paris Saint-Germain Fan Token/Tether Market Overview

• Price action was choppy with 1.635 as a key pivot, seeing multiple tests.
• Momentum flagged by RSI and MACD suggested waning bullish energy post 1.64.
• Volatility expanded midday, as seen in Bollinger Band breakouts and high-volume surges.
• Divergence between volume and price suggested mixed conviction in recent rallies.
• Key Fibonacci levels at 1.623 and 1.643 emerged as critical reversal points.

The Paris Saint-Germain Fan Token/Tether (PSGUSDT) opened at 1.636 on 2025-09-18 at 12:00 ET and reached a high of 1.654 before closing at 1.624 on 2025-09-19 at 12:00 ET. The 24-hour trading range was between 1.616 and 1.654, with a total volume of 118,406.42 and a notional turnover of $191,663.77.

Structure & Formations

Over the 24-hour period, price action displayed a bearish bias, forming a series of lower highs and lower lows. Key support levels were identified at 1.623 (tested and held multiple times) and 1.616 (a potential floor), while resistance levels at 1.635 and 1.645 were frequently retested without strong breakout attempts. Notable patterns included a bearish engulfing candle at 00:45 ET and a morning star reversal at 09:00 ET, suggesting a possible short-term bounce. However, the overall structure leaned bearish, with a failure to retest the 1.645 resistance reinforcing a downtrend.

Moving Averages

On the 15-minute chart, price remained below the 20-period and 50-period moving averages for most of the session, reinforcing a bearish bias. The 20-period MA at 1.634 was frequently tested but not held. On the daily chart, price closed below the 50-period MA (1.642) and the 200-period MA (1.648), indicating a deeper bearish alignment with long-term averages. The 100-period MA at 1.645 further reinforced this downward trend.

MACD & RSI

The MACD remained in negative territory for most of the session, with a bearish crossover between the signal and histogram lines observed at 19:00 ET. RSI dipped into oversold territory (below 30) at 23:00 ET, suggesting potential short-term buying interest, but a lack of follow-through indicated weak momentum. RSI failed to break above 40 after midday, signaling ongoing bearish pressure. These indicators pointed to a market struggling to gain bullish momentum despite minor rebounds.

Bollinger Bands

Volatility expanded significantly during the afternoon hours, with the upper Bollinger Band peaking at 1.654 and the lower band dropping to 1.616. Price action briefly breached the upper band at 07:15 ET and 07:30 ET, indicating a temporary bullish surge before retreating. By the evening, price settled within the bands but near the lower boundary, suggesting a potential test of the 1.623 support level. The narrowing of the bands during the overnight hours suggested a possible consolidation phase ahead.

Volume & Turnover

Trading volume was uneven, peaking at 14,193.69 at 14:00 ET and 8,972.52 at 07:00 ET, indicating high participation during key price moves. Notional turnover followed a similar pattern, with a spike at 14:00 ET and a smaller peak at 07:15 ET. However, price failed to hold above key resistance levels during these high-volume periods, indicating mixed conviction. A divergence between price and volume during the 07:00–08:00 ET rally suggests a lack of follow-through and weaker buying pressure.

Fibonacci Retracements

Applying Fibonacci to the 15-minute swing from 1.616 to 1.654, key levels at 1.633 (38.2%) and 1.623 (61.8%) were tested multiple times. The 61.8% level at 1.623 held as strong support, preventing further downside for the time being. On the daily chart, the 38.2% retracement at 1.645 appeared to be a psychological resistance level that price failed to overcome. The 50% retracement at 1.630 was a pivot area, with the price bouncing off it several times during the session.

Backtest Hypothesis

Using the identified support and resistance levels, along with the RSI and MACD readings, a potential backtesting strategy would involve shorting at the 1.635 pivot once RSI crossed below 40 and MACD turned bearish. A stop-loss could be placed above 1.645, while a profit target could be set at the 1.623 Fibonacci level. This approach would have captured the bearish move from 1.641 to 1.624 while minimizing exposure during false breakouts. The high-volume bar at 07:15 ET and the bearish engulfing pattern suggest a high-probability setup for such a strategy.