Band (BANDUSDT) Market Overview: Bearish Momentum and Key Support Test

• Band declined 14.5% over 24 hours, with bearish momentum and a breakdown below key support at 0.750.
• Volatility expanded midday with a 4.2% drop in 90 minutes, coinciding with a spike in volume.
• RSI oversold at 29, suggesting potential for a near-term bounce, but bearish trendlines remain intact.
• Bollinger Bands showed a contraction in the early hours, followed by a sharp price break below the lower band.

Market Overview

Band (BANDUSDT) opened at 0.777 on 2025-08-17 at 12:00 ET and closed at 0.746 by 2025-08-18 at 12:00 ET, with a high of 0.780 and low of 0.714. Total volume reached 1,347,261.7, and notional turnover was $993,472.1, reflecting a 24-hour price decline of 14.5%.

Structure & Formations

A key support level formed at 0.750 during the overnight hours, which was decisively broken midday as a large bearish candle (0.753 → 0.741) confirmed the breakdown. A potential bearish engulfing pattern appeared around 0.761–0.764, reinforcing the downtrend. A doji near 0.730 suggests short-term indecision, though bearish pressure continued to dominate.

Moving Averages

On the 15-minute chart, the price remained below both the 20-period (0.762) and 50-period (0.771) moving averages throughout the day, indicating bearish bias. On the daily chart, the 50-period MA at 0.775 and 200-period MA at 0.750 suggest a potential support zone forming near 0.750–0.745, which may be tested in the next 24 hours.

MACD & RSI

The MACD line turned negative in the afternoon and crossed below the signal line, confirming bearish momentum. RSI dropped to an oversold 29 by 09:00 ET, hinting at potential short-term bounce, though without a strong reversal, the bearish trend could persist.

Bollinger Bands

Volatility contracted in the early morning hours, with Bollinger Bands narrowing before a sharp 4.2% drop sent the price below the lower band. Price action has since remained within the bands, but the absence of a strong rebound suggests continued bearish momentum.

Volume & Turnover

Volume spiked sharply during the 0.753 → 0.741 breakdown, reaching 188,899.2 at 03:00 ET. This high-volume breakdown confirms bearish conviction. Notional turnover also increased during this phase, with price and volume aligning to reinforce the bearish signal.

Fibonacci Retracements

Applying Fibonacci to the 0.714–0.780 swing, key levels include 61.8% at 0.736 and 38.2% at 0.758. The price briefly tested the 38.2% level in the afternoon before falling back, suggesting that a retest of the 61.8% level could mark a short-term bottom or pivot point.

BANDUSDT may consolidate near 0.740–0.750 in the next 24 hours, with a potential bounce from the 0.740 level if RSI remains oversold. However, a break below 0.730 could accelerate the decline, especially if volume increases again. Investors should closely monitor the 0.750 level as a critical support threshold.