PundiX/Tether (PUNDIXUSDT) Market Overview – 2025-11-08

Summary
• Price opened at 0.2965 and closed at 0.3052 after a volatile 24-hour session.
• Strong buying pressure evident between 17:30–18:30 ET as price surged past 0.3063.
• Turnover spiked in the early morning as price tested 0.3125 before consolidating.
• RSI indicates moderate overbought levels; momentum shows a potential reversal.

PundiX/Tether (PUNDIXUSDT) opened at 0.2965 on 2025-11-07 at 12:00 ET, reached a high of 0.3125, and closed at 0.3052 as of 12:00 ET on 2025-11-08. Total volume for the 24-hour period was 2,130,696.1, with a notional turnover of $648,308.10. The pair appears to have formed a key resistance level around 0.3100 and found support in the 0.3050–0.2998 range.

Structure & Formations

Price action revealed a sharp rally from 0.2965 to 0.3106 in the early hours of 2025-11-08, followed by a consolidation phase and a pullback toward 0.3049. A key bullish engulfing pattern was identified at 18:30 ET on 2025-11-07, with a strong move up from 0.3069 to 0.3105. A potential bearish divergence also formed in the 0.3105–0.3092 range, indicating a pause in upward momentum.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages have been bullish, with the 20 MA crossing above the 50 MA (a “Golden Cross”) around 0.3049. On a daily basis, the 50 MA (0.2968) has acted as support, while the 200 MA (0.2910) remains a critical long-term level to watch.

MACD & RSI

MACD crossed into positive territory during the late ET hours, confirming the strength of the rally. RSI peaked at 63.2 in the 0.3106–0.3125 range, signaling moderate overbought conditions. A pullback to 0.3052 brought RSI down to 52, suggesting some consolidation could be ahead.

Bollinger Bands

Price remained within the Bollinger Band range for most of the session, with a brief expansion noted during the 18:30–21:00 ET rally. The midline (SMA 20) at 0.3050 acted as a psychological support, while the upper band reached 0.3125, the day’s high.

Volume & Turnover

Volume increased significantly between 18:30 and 20:15 ET, coinciding with the push above 0.3100. Notional turnover also rose during that window, confirming the breakout. However, volume dipped in the final hours of the session, suggesting traders may be waiting for a clearer direction.

Fibonacci Retracements

Applying Fibonacci retracement levels to the 0.2951–0.3125 swing, 0.3052 appears to align closely with the 61.8% level. This suggests a possible area of consolidation ahead. For the daily swing from 0.2910 to 0.3125, 0.3052 is near the 38.2% retracement, indicating a potential pivot point for the next 24 hours.

Backtest Hypothesis

The technical setup suggests that a backtest focusing on Bullish Engulfing patterns may yield valuable insights for future decision-making. However, the automated data-fetch attempt to retrieve these occurrences encountered an error from the data provider. A potential solution is to retry the query with a narrower time frame or adjust the search parameters to ensure accuracy. Alternatively, if the dates of past Bullish Engulfing events are available, they could be input manually for a more precise backtest. Integrating this strategy into the current analysis could help validate the pattern’s effectiveness in PUNDIXUSDT’s price behavior.