BNTUSDT Market Overview

• Price surged above 0.5890, breaking key resistance with strong volume
• RSI surged into overbought territory while price formed bullish engulfing patterns
• Bollinger Bands widened, signaling increased volatility in afternoon ET
• Turnover spiked over $103M in 15-min window, aligning with price breakouts
• MACD showed bullish crossover, suggesting potential for further upside

Bancor/Tether (BNTUSDT) opened at 0.5884 on 2025-10-11 at 12:00 ET and traded as high as 0.6135 and as low as 0.5607, closing at 0.5879 at 12:00 ET on 2025-10-12. The 24-hour volume totaled 103,359.3 BNT with a turnover of $59.8M (calculated using average close of 0.5879).

Structure & Formations

Price action revealed key resistance levels at 0.5890 and 0.6043, with a notable bullish engulfing pattern forming at 0.5890. A bearish harami appeared at 0.5784, hinting at temporary exhaustion. A strong break above 0.6043 could signal continuation, while a retest of 0.5720 appears to be a strong support level. A notable doji formed at 0.586, indicating indecision during a key consolidation phase.

Moving Averages

On the 15-minute chart, price held above the 20-period and 50-period moving averages for most of the session, especially after the 06:00 ET breakout. The 50-period MA acted as dynamic support during the afternoon decline, while on the daily chart, the 50/100/200 MA confluence at 0.5820 appears to have been a minor pivot, with price bouncing off this level after the 14:00 ET consolidation.

MACD & RSI

The MACD turned bullish during the 15:00 ET hour, with a strong crossover and increasing histogram bars. RSI spiked into overbought territory above 70, particularly after the 15:00–16:00 ET breakouts. However, a bearish divergence appeared around 16:00–17:00 ET, as RSI softened while price held in a range. This could suggest an overbought condition with potential for a pullback.

Backtest Hypothesis

The backtesting strategy described aims to capture momentum-driven breakouts on the 15-minute chart, entering long on a close above the 50-period MA with RSI above 50 and MACD bullish crossover. A stop loss is placed at the recent swing low, and a take profit is set at the nearest Fibonacci extension level of 0.618. The data from today supports this hypothesis, as the price closed above both the 50-period MA and confirmed a bullish MACD crossover during the 06:00–07:00 ET period. RSI confirmed the momentum, suggesting that the strategy could have generated a profitable trade on the 10:00–11:00 ET rally.