Phala Network/Tether (PHAUSDT) Market Overview 2025-10-07

• PHAUSDT declined 8.7% over 24 hours with bearish momentum in final hours.
• Price tested key support at $0.099 and broke below earlier consolidation.
• RSI oversold at 22, suggesting potential for a bounce or further decay.
• Volume spiked 3.8x above average during final 8-hour bearish wave.
• Volatility expanded as price moved outside Bollinger Bands lower channel.

At 12:00 ET–1 on 2025-10-06, Phala Network/Tether (PHAUSDT) opened at $0.1038, reached a high of $0.1042, and a low of $0.0969 before closing at $0.0975 on 2025-10-07. Total 24-hour volume was 7,820,770 tokens, and notional turnover was $820,000. The pair experienced a broad bearish trend punctuated by a late-night breakdown below key support levels.

Structure on the 15-minute chart showed a bearish exhaustion pattern with a long lower wick forming at $0.1001, followed by a confirmed breakdown below $0.1007. A doji at $0.1006 signaled indecision before a sharp descent. The price is now below the 50-period moving average, and the 20-period line has crossed below it, reinforcing bearish sentiment. The daily chart shows the price has broken below the 50/100/200-day MA convergence at $0.1012–$0.1016, a key area of prior consolidation.

MACD crossed below the signal line in the early hours of 2025-10-07, confirming bearish momentum. RSI dropped into oversold territory, currently reading at 22, suggesting a possible bounce or continued bearish drift if short-term buyers remain absent. Bollinger Bands widened as price fell below the lower band by 4.2%, indicating heightened volatility and potential for a mean reversion pullback. Volume was particularly strong in the last 8 hours of the period, with turnover surging as the price collapsed through $0.099.

Fibonacci retracements on the 15-minute chart identified 61.8% at $0.0998 and 78.6% at $0.0983 as potential support levels. Daily Fibonacci levels suggest $0.0976 (61.8%) as a key psychological threshold. The price is currently near $0.0976, which may see renewed selling pressure or consolidation.

The backtesting strategy leverages the convergence of RSI and MACD in oversold conditions to identify short-term buying opportunities. When RSI dips below 25 and MACD crosses above the signal line, the strategy triggers a long entry with a stop-loss at the recent swing low and a target at 50% Fibonacci retracement. This setup is particularly relevant for PHAUSDT, as current RSI readings and MACD divergence suggest potential for a counter-trend bounce.