PundiX/Tether Market Overview

Summary
• PundiX/Tether (PUNDIXUSDT) traded in a 24-hour range of $0.2897 to $0.3044, closing near the lower half.
• Momentum was mixed with RSI signaling overbought and oversold conditions.
• Volume spiked midday, suggesting active trading but limited directional bias.

PundiX/Tether (PUNDIXUSDT) opened at $0.2985 on 2025-11-12 at 12:00 ET, reached a high of $0.3044, a low of $0.2897, and closed at $0.2897 on 2025-11-13 at 12:00 ET. The 24-hour volume totaled 5,699,914.3 with a notional turnover of approximately $1,665,564.89.

Structure & Formations

Price action revealed a distinct support zone forming around $0.2940–$0.2960, with several bullish rejection patterns including a hammer and a bullish engulfing pattern observed on the $0.2960–$0.2990 range. Resistance appears to be consolidating around $0.3015–$0.3035, with bearish continuation patterns suggesting further downside if broken. A doji near $0.2990 at 21:30 ET signaled indecision, reinforcing a potential trend reversal.

Moving Averages

On the 15-minute chart, the 20-period MA crossed below the 50-period MA in the late afternoon, forming a death cross that signals short-term bearish momentum. Meanwhile, the 50-period daily MA is trending slightly upward, though it remains well above the current price, indicating the pair is in a medium-term correction phase.

MACD & RSI

MACD remained bearish throughout the session, with the histogram contracting after 23:00 ET, suggesting weakening short-term selling pressure. RSI moved between overbought (>70) and oversold (<30) multiple times, reflecting choppy and range-bound conditions. The most recent RSI reading, as of 17:00 ET, showed a value near 35, suggesting the pair may find near-term support but lacks strong directional bias.

Bollinger Bands

Volatility expanded in the early morning hours, with price breaking below the lower band at $0.2897. This indicates a period of heightened bearish conviction. The bands have since contracted, suggesting a potential consolidation phase ahead. Price remains within the band width, indicating a lack of explosive move either direction, and a probable range-bound continuation.

Volume & Turnover

Volume surged significantly between 19:00–22:00 ET, coinciding with a price rebound from the $0.2960 level. This volume expansion confirmed the bounce but did not drive price above the $0.3000 mark, signaling potential exhaustion. Turnover also spiked at these times, supporting the idea that traders were actively taking positions. However, divergence between price and volume in the late session suggests fading momentum.

Fibonacci Retracements

Key Fibonacci levels on the most recent 15-minute swing (from $0.2940 to $0.3044) include 38.2% at $0.3000 and 61.8% at $0.2960. The 61.8% level has held firm as support multiple times, indicating it could be a critical level for near-term buyers. On the daily chart, the 50% retracement of the broader correction stands at $0.2970, which appears to be a potential pivot point.

Backtest Hypothesis

The backtest of a strategy based on overbought RSI conditions (RSI > 70) showed a negative total return and a Sharpe ratio below zero, indicating poor risk-adjusted performance. The strategy’s drawdowns were disproportionately large relative to gains, suggesting that relying solely on overbought RSI for long entries in PUNDIXUSDT has not been effective since 2022. This aligns with the observed choppy and range-bound behavior, where RSI frequently entered overbought and oversold levels without clear directional continuation. Traders may want to test a revised hypothesis, such as using RSI below 30 as an entry trigger or adding stop-loss and take-profit filters to improve risk management.