BELUSDT Market Overview: Volatility Peaks and Bearish Momentum in 24-Hour Session

• BELUSDT opened at $0.2099, surged to $0.2168, then closed at $0.1894, reflecting a volatile 24-hour session.
• A sharp decline from $0.2168 to $0.1894 unfolded after 15:30 ET, suggesting strong bearish momentum.
• Volume spiked to $9.39M at 15:30 ET during a critical selloff, indicating intensified selling pressure.
• RSI-14 hit oversold territory (<30) near session close, hinting at potential short-term buying interest. • Bollinger Bands widened during the selloff, signaling increased volatility and uncertainty.

Bella Protocol/Tether (BELUSDT) opened at $0.2099 on 2025-11-02 at 12:00 ET, reaching a high of $0.2168 before closing at $0.1894 at 12:00 ET on 2025-11-03. The 24-hour trading period saw a total volume of 24,925,285.9 units and a notional turnover of approximately $4.83 million. Price dynamics showed strong bullish momentum early in the session, followed by a pronounced bearish reversal in the late afternoon.

Structure & Formations

Key support levels emerged around $0.196–$0.198 and $0.187–$0.189, where price found temporary stability during the selloff. Resistance levels were observed at $0.202–$0.205 and $0.212–$0.214. A significant bearish engulfing pattern formed between 15:30 and 16:00 ET, marking the start of a sharp correction. Doji patterns appeared near the upper and lower Bollinger Bands, signaling indecision and potential trend exhaustion.

Moving Averages

On the 15-minute chart, the 20-period MA briefly crossed above the 50-period MA in the early part of the session, forming a bullish crossover. However, by late afternoon, the 50-period MA dipped below the 20-period MA, indicating a shift in sentiment. On the daily chart, the 50-period MA remains above the 100-period MA, but the 200-period MA continues to drag downward, suggesting medium-term bearish bias.

MACD & RSI

The MACD line turned negative by 15:30 ET, confirming the bearish reversal. The histogram expanded sharply as the downtrend accelerated, reflecting increasing momentum in the short term. RSI-14 plunged below 30 by the close, hitting a 24-hour low of 27.6, signaling oversold conditions. However, divergence between RSI and price suggests a temporary pullback may occur before a continuation of the bearish trend.

Bollinger Bands

Bollinger Bands experienced a notable expansion during the selloff, with price closing near the lower band at $0.1894. The widening bands highlight heightened volatility and uncertainty in market sentiment. A potential bounce from the lower band might occur, but bearish continuation remains likely if key support levels break.

Volume & Turnover

Volume surged to a 24-hour peak of 939,352.2 units at 15:30 ET, coinciding with the bearish reversal and a sharp drop in price. This high-volume move confirmed the bearish breakout. Notional turnover also spiked to $9.39 million during that period. A divergence between price and turnover was noted late in the session, as turnover declined despite continued price declines, hinting at exhaustion in the selling pressure.

Fibonacci Retracements

On the 15-minute chart, the pullback from $0.2168 found support near the 61.8% retrace level at $0.206–$0.207 before continuing lower. On the daily chart, the recent high of $0.2168 is now 61.8% above the low of $0.187, suggesting a possible consolidation zone around the 50% retracement at $0.201–$0.202 in the near term.

Backtest Hypothesis

The RSI-14 hitting oversold levels near the close of this 24-hour period (at 27.6) aligns with the backtesting strategy under consideration. Historical oversold RSI readings (typically <30) often precede short-term rebounds in volatile assets such as BELUSDT. If this pattern holds, a 5-day holding strategy initiated on such signals could be backtested for profitability from 2022-01-01 to today. The effectiveness of this strategy would depend on the accuracy of the RSI as a contrarian indicator and the confirmation of bullish divergence in the MACD or volume during such entry points.