Bella Protocol/Tether Market Overview

Summary• Price surged to 0.1920 before consolidating near 0.1840–0.1850 resistance.
• Volume and turnover spiked during the 16:00–17:00 ET bullish breakout.
• RSI suggests overbought conditions at current levels, with MACD diverging from price highs.
• Key support now confirmed at 0.1765–0.1775 following recent pullbacks.
• Bollinger Bands widened sharply, indicating rising volatility ahead.

Opening and 24-Hour Summary

Bella Protocol/Tether (BELUSDT) opened at 0.1783 on 2025-11-06 at 12:00 ET and reached a high of 0.1920 on 2025-11-07 at 17:00 ET. The 24-hour session closed at 0.1910, with a low of 0.1757. Total volume traded was 2,697,147.6 units, and turnover amounted to $506,035.77.

Structure & Formations

Price formed a strong bullish breakout at 0.1840, followed by a high of 0.1920. A descending wedge pattern is in play, with support at 0.1765 and resistance at 0.1920. A potential bullish engulfing pattern is visible around 0.1810–0.1820, and a bearish harami may be forming near 0.1910 if consolidation continues. A key support level appears at 0.1765–0.1775.

Moving Averages

On the 15-minute chart, the 20-period MA (0.1830) is above the 50-period MA (0.1805), suggesting short-term bullish momentum. On the daily chart, the 50-period MA (0.1800) is below the 200-period MA (0.1775), indicating a longer-term base-building phase. Price is currently above both MAs, favoring a near-term bullish bias.

MACD & RSI

The 15-minute MACD is positive and rising, with a histogram indicating bullish momentum. The RSI (84) is in overbought territory, signaling a potential near-term pullback. However, the MACD is not yet overbought, so a continuation of the upward move is still possible. A divergence between price highs and RSI suggests caution for near-term traders.

Bollinger Bands

Bollinger Bands have widened significantly over the last 24 hours, with the upper band reaching 0.1920 and the lower band falling to 0.1757. Price closed near the upper band, indicating strong volatility and a potential short-term consolidation phase. A move back into the middle band (0.1839) could trigger a retest of 0.1765 if the trend weakens.

Volume & Turnover

Volume spiked to a peak of 242,793.9 units at 17:00 ET, coinciding with the price high of 0.1920. Notional turnover also rose sharply during this period. However, the most recent 15-minute candle shows a volume decrease, suggesting a potential pause in momentum. A divergence between rising price and falling volume could signal exhaustion.

Fibonacci Retracements

Key Fibonacci levels on the 15-minute chart include 0.1845 (38.2%), 0.1870 (50%), and 0.1895 (61.8%). On the daily chart, the 0.1805 level (38.2%) is acting as support, while the 0.1895 (61.8%) is a potential resistance if the upward trend continues. A break above 0.1920 could target the 0.1950–0.1960 zone, which is the 127.2% extension.

Backtest Hypothesis

To rigorously test the potential of BELUSDT using a strategy based on bullish engulfing patterns at support, we need to establish clear parameters. For instance, a 50-day low ±1% would define "support," and a 50-day high ±1% could trigger an exit. Alternatively, Bollinger Bands or fixed stop-loss and take-profit levels could be used. The goal is to refine the rules so we can apply them consistently over historical data and generate meaningful backtest results from 20220101 to 20251107.