Nonmonotonic (NM) nucleus-nucleus potential families rooted in the Pauli-compliant Energy Density Functional (EDF) theory and especially their behavior at higher energies, have been investigated using experimental data for $^{16}$O+$^{16}$O elastic scattering in the range $25 \leq E_{lab} \leq 1120$ MeV. At $E_{lab}= 75$ MeV, the $^{16}$O+$^{16}$O NM potentials, in a simple optical model (OM) are found to support five rotational bands of $^{16}$O+$^{16}$O bound and quasimolecular states in $^{32}$S with cluster global quantum numbers $G = 24$, 26, 28, 30 and 32. The lowest band in the experimental spectrum starting at $E_x = 7.5357$ MeV, and having $I^{\pi}$ = 0$^+$, 2$^+$, 4$^+$, 6$^+$ and 8$^+$, has been located for the first time. In the simple OM, the NM potentials are found to reproduce the experimental $^{16}$O+$^{16}$O fusion cross sections in the energy range 12 - 31 MeV. The present work shows that both the $^{16}$O+$^{16}$O cluster-bands and fusion cross sections in the Coulomb-barrier region can be reproduced using NM potentials.