PundiX/Tether Market Overview – 2025-10-12

• PundiX/Tether (PUNDIXUSDT) closed at $0.2995 after opening at $0.2904, with a 24-hour high of $0.3064 and low of $0.2727.
• Price experienced a strong upward reversal from support at $0.282–0.285, forming bullish patterns like hammer and bullish engulfing.
• Momentum accelerated in the final 6 hours, with RSI rising from oversold to balanced territory and volume spiking to $3.7M in the 15:00–18:00 ET timeframe.
• Volatility expanded notably in the last 8 hours, pushing price above upper Bollinger Band levels during the late ET session.
• Turnover reached $5.1M at peak hours, with no clear divergence between price and volume, suggesting strong follow-through buying.

PundiX/Tether (PUNDIXUSDT) opened at $0.2904 on 2025-10-11 at 12:00 ET and closed at $0.2995 by 12:00 ET on 2025-10-12. The 24-hour session saw a high of $0.3064 and a low of $0.2727. Total volume was 6.66 million contracts, with a notional turnover of approximately $2.03 million.

The price action shows a strong rebound from a key support level of $0.282–0.285, which held up during the early ET hours. This led to the formation of bullish candlestick patterns such as hammers and bullish engulfing patterns. Price broke above the 20-period and 50-period moving averages on the 15-minute chart, with the 20 SMA currently at $0.2975 and the 50 SMA at $0.2955, both providing short-term support.

The RSI climbed from oversold territory (below 30) to a balanced level of around 58–60 by the close, indicating a recovery in momentum. MACD remains positive but has flattened slightly, suggesting the upward move may consolidate in the near term. Volatility, as measured by Bollinger Bands, expanded significantly in the final 8 hours of the session, with price closing just above the upper band, signaling strong conviction in the rally.

Structure & Formations

Key support levels observed include $0.282 and $0.285, which held during the bearish phase. Resistance levels at $0.3000 and $0.3040 were tested in the final hours but not decisively broken. A bullish engulfing pattern formed around 02:45–03:00 ET, confirming a reversal. A long-legged doji at $0.2940–0.2945 ET suggests indecision but not bearish reversal, especially with the following candles confirming the uptrend.

Moving Averages

On the 15-minute chart, the 20 SMA and 50 SMA have both been crossed to the upside, with price holding above both. This indicates that the short-term trend has shifted to bullish. The 50 SMA at $0.2955 currently acts as a dynamic support level. On the daily chart, the 50-period, 100-period, and 200-period moving averages are not yet crossed, suggesting the broader trend remains neutral to slightly bearish unless a decisive break above $0.3040 occurs.

MACD & RSI

The RSI rose from 30 to around 58–60, suggesting the rebound is still within a healthy range but not yet overbought. MACD remains positive, with a narrowing histogram indicating a potential slowdown in momentum. However, the bullish crossover remains intact.

Bollinger Bands

Volatility increased significantly during the last 8 hours, pushing price above the upper Bollinger Band by ~3.2% at the close. This expansion indicates strong buying pressure, especially in the final 4 hours. The narrowing of the bands earlier in the session suggested consolidation, which ended with a sharp move higher.

Volume & Turnover

Volume spiked to over 376,000 contracts and $3.7 million in turnover at the 15:00–18:00 ET timeframe, confirming the strength of the reversal. Notional turnover peaked at $2.03 million, with no divergence between price and volume. The last 6 hours saw an average of $330k in turnover per hour, indicating sustained buying interest.

Fibonacci Retracements

Applying Fibonacci levels to the recent swing low at $0.2727 and high at $0.3064, the 38.2% retracement is at $0.2921, the 50% at $0.2896, and the 61.8% at $0.2871. The price closed near the 61.8% retracement level, suggesting that the move from the low is not yet complete and could extend toward $0.3040 and beyond.

Backtest Hypothesis

Given the strong reversal pattern and the alignment of volume, momentum, and Fibonacci levels, a potential backtesting strategy could involve a long entry just above the 61.8% retracement level at $0.2871 with a stop-loss below $0.2765 and a target of $0.3040. This setup would aim to capture the continuation of the rebound while limiting downside risk. The recent behavior of the RSI and MACD suggests the move is still in early expansion mode, favoring a breakout play over a reversal bias at this stage.