Market Overview for Bancor/Tether (BNTUSDT) on 2025-09-24

• Price action formed a bearish reversal pattern with a key support zone at 0.6655–0.6675.
• Momentum decelerated as RSI approached overbought levels before a sharp pullback.
• Volatility expanded midday, with a large-volume candle breaking through prior resistance at 0.6709.
• Turnover surged during the 04:15–06:00 ET range amid a sharp decline, signaling strong distribution.
• Fibonacci levels highlighted a possible near-term target at 0.6734 and 0.6662 for retracement scenarios.

Bancor/Tether (BNTUSDT) opened at 0.6723 at 12:00 ET−1 and closed at 0.6736 at 12:00 ET. The pair traded between 0.654 and 0.6766, with total volume of 43,429.8 and notional turnover of 29,166.1 over the 24-hour period. The session featured a late-night breakdown to 0.6581 followed by a rebound into a consolidation phase above 0.6709.

Structure & Formations

The 24-hour price action displayed several key structures. A bearish reversal pattern emerged after a sharp decline from 0.6766 to 0.6581, followed by a consolidation phase above 0.6709. Key support levels formed at 0.6655–0.6675, with a potential short-term resistance at 0.6723–0.6735. Notable candlestick patterns included a bearish engulfing pattern early in the session and a bullish piercing pattern during the morning recovery. A doji formed at 0.6656 during the overnight session, signaling indecision at critical support.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed over in the morning, signaling a potential short-term bearish shift. However, during the afternoon, the 20-period line crossed above the 50-period, indicating renewed bullish momentum. On the daily chart, the 50-period MA was below the 200-period MA, suggesting a broader bearish bias, though the price remained above the 100-period MA.

MACD & RSI

The MACD line turned positive during the morning consolidation phase, with a histogram showing increasing bullish momentum. The RSI indicator surged into overbought territory (above 70) during the afternoon rally but pulled back sharply after hitting resistance at 0.6735. This suggests the pair may face renewed pressure if it fails to break through this level.

Bollinger Bands

Volatility expanded during the late-night breakdown, with the bands widening significantly. The price tested the upper band at 0.6766 during the afternoon rebound and remained near the upper band until a late sell-off. A volatility contraction was observed near 0.6687, suggesting a potential consolidation phase before the next directional move.

Volume & Turnover

Volume spiked during the 04:15–06:00 ET range as the price dropped from 0.6709 to 0.6581, with a large-volume candle at 0.6581 indicating strong distribution. Turnover confirmed the volume increase, with a 4.5x spike compared to the earlier part of the session. A divergence between price and turnover occurred during the 07:30–09:30 ET rebound, suggesting the bullish move may lack conviction.

Fibonacci Retracements

Key Fibonacci retracement levels were identified on the 04:15–06:00 ET decline. The 38.2% level at 0.6662 acted as a minor support, while the 61.8% level at 0.6734 formed a key resistance. On the daily chart, the 50% level of the broader downtrend was at 0.6757, which may serve as a target for further bullish momentum.

Backtest Hypothesis

A potential backtesting strategy could utilize a combination of the 20/50-period moving average crossover and RSI divergence to identify entries. A long entry could be triggered when the 20-period MA crosses above the 50-period MA and RSI shows a bullish divergence. Stops could be placed just below the nearest Fibonacci support, while take-profit levels aim for the next Fibonacci resistance or key psychological levels. This approach may capture short-term momentum shifts with defined risk parameters.