POND Fails to Hold $0.0025 After Late Surge

Summary
• Price consolidated between $0.00245 and $0.00248 amid moderate volume and no decisive breakout.
• A bullish engulfing pattern formed at 03:45 ET, but buying momentum stalled shortly after.
• Volume surged briefly at 11:30 ET, coinciding with a breakout to $0.00251, but failed to hold above $0.0025.
• RSI remained in neutral territory, suggesting indecision rather than overbought or oversold conditions.
• Bollinger Bands tightened overnight before a late morning expansion, hinting at potential volatility ahead.

Market Overview

Marlin/Tether (PONDUSDT) opened at $0.00246 on 2026-02-20 at 12:00 ET and traded between $0.00244 and $0.00251 before closing at $0.00248 at 12:00 ET on 2026-02-21. Total volume reached 9,774,641.0, with turnover at approximately $24,444.5.

Price Structure and Key Levels

The 24-hour session was characterized by tight consolidation within a $0.00244–$0.00251 range. A bullish engulfing pattern emerged at 03:45 ET, which briefly lifted sentiment, but failed to drive sustained momentum above $0.0025. Price action suggests a potential support zone forming near $0.00245–$0.00246 and a resistance cluster between $0.00248 and $0.0025. A doji formed near $0.00247, signaling indecision at this level.

Moving Averages and Momentum

Short-term moving averages (20/50-period) on the 5-minute chart showed little divergence, reflecting the tight range. RSI hovered between 40 and 60 throughout the session, indicating balanced bullish and bearish pressure. MACD remained flat, with no clear directional bias, reinforcing the lack of conviction in price movements.

Volatility and Bollinger Bands

Bollinger Bands contracted during the overnight hours, suggesting a possible buildup of volatility, which expanded in the morning with the breakout attempt. Price briefly tested the upper band at $0.00251, but quickly retraced. The narrower band setting could signal a higher likelihood of a breakout in the next 24 hours.

Volume and Turnover Dynamics

Volume was generally moderate throughout, with a notable spike at 11:30 ET coinciding with the $0.00251 high. However, turnover failed to confirm the breakout, with volume dropping after the failed attempt to hold above $0.0025. This suggests weak follow-through from buyers. A divergence between price and volume was observed during the late morning, which may indicate a potential reversal or consolidation in the near term.

Looking ahead, the market may test the $0.00245 support and $0.0025 resistance zones again over the next 24 hours. Investors should remain cautious about false breakouts and manage risk with tight stop-loss levels.