Band/Tether Market Overview: 24-Hour Breakout Confirmed with Strong Volume

• BANDUSDT rose 1.46% in 24 hours, with a decisive close near 0.683 after testing Bollinger Band upper boundaries.
• RSI reached 60–65, suggesting moderate momentum but not overbought conditions, with MACD trending upward.
• Volume surged over 53,500 during the session, confirming bullish bias, though turnover remained in line with price movement.
• A bullish engulfing pattern formed near 0.68–0.682, signaling a short-term reversal from a 24-hour low.
• Price found support at 0.679–0.68, aligning with the 38.2% Fibonacci retracement of the prior 15-minute decline.

Band/Tether (BANDUSDT) opened at 0.662 on October 4 at 12:00 ET and closed at 0.683 one day later, reaching a high of 0.699 and a low of 0.662. Total volume for the 24-hour window reached 535,000, with turnover amounting to ~455,000 Tether. The pair exhibited a strong bullish reversal from a key support level near 0.679–0.68, with a volume surge and higher highs confirming the breakout.

On the 15-minute chart, BANDUSDT found strong support at 0.68 and resistance at 0.685–0.688. A bullish engulfing pattern emerged around 0.68–0.682, confirming a shift in short-term sentiment. The 20-period moving average crossed above the 50-period line in the final hours, suggesting accelerating momentum. Resistance levels include 0.688, 0.691, and 0.695, while support remains at 0.68 and 0.675.

MACD turned positive in the last 6 hours, with a bullish crossover between the signal and line, supporting continued upward pressure. RSI hovered between 55 and 65, indicating strong, but not excessive, momentum. Bollinger Bands expanded significantly during the breakout, with price closing near the upper band, hinting at increased volatility. Volume spiked during the 02:45–03:15 ET window, confirming the breakout with strong buying pressure.

Fibonacci retracements of the recent 15-minute swing from 0.688 to 0.679 placed the 61.8% level at 0.683—exactly where price closed. The 38.2% level at 0.684 will be key in the next 24 hours.

Backtest Hypothesis: A strategy based on the 20-period moving average crossover with confirmation from bullish engulfing patterns and RSI above 55 could have captured 80% of the upward move in the last 12 hours. Applying a 2% stop-loss below the 0.68 level and a take-profit at 0.691 would align with the breakout structure. This suggests a viable short-term momentum trade, especially when volume confirms the breakout.