Market Overview for Bancor/Tether (BNTUSDT)

• Price declined sharply from $0.709 to $0.6567 amid heavy selling.
• RSI and MACD suggest momentum exhaustion and bearish bias.
• Volatility expanded through Bollinger Bands, with price lingering near the lower band.
• Volume surged to 54,302.2 units during the sharp decline, confirming bearish pressure.
• Fibonacci retracements indicate potential support near $0.654–0.656.

Bancor/Tether (BNTUSDT) opened at $0.7079 on 2025-09-21 at 12:00 ET, reaching a high of $0.709 before declining to a 24-hour low of $0.6428. The price closed at $0.6603 on 2025-09-22 at 12:00 ET. Total volume over the 24-hour window was approximately 382,987.5 units, with a notional turnover of $262,144.3 (assuming 1 BNT = $0.707 average rate for turnover estimation).

The price structure over the past 24 hours shows a sharp bearish breakdown following a consolidation phase. Key support levels have been tested at $0.68, $0.67, and $0.656, with the latter holding temporarily before a further drop to $0.6428. A notable bearish engulfing pattern formed during the early hours of 2025-09-22, followed by a long bearish candle confirming downside momentum. A doji near the $0.6858 level suggested indecision, but the following candle continued the decline.

Moving averages on the 15-minute chart show the price below both the 20-period and 50-period SMAs, confirming a short-term bearish trend. On the daily chart, the price remains below the 50, 100, and 200-day SMAs, indicating a stronger bearish bias.

MACD crossed below the signal line with a negative histogram, aligning with the bearish momentum. RSI dipped into oversold territory near 25 after the sharp decline, suggesting potential near-term consolidation. Bollinger Bands widened significantly as the price dropped to the lower band, indicating heightened volatility. The recent price action appears to have created a potential floor near $0.643, with 38.2% and 61.8% Fibonacci retracement levels aligning at $0.654 and $0.656, respectively.

Volume and turnover spiked during the sharp decline between 06:15 ET and 06:30 ET, with 54,302.2 units traded during that period. The heavy selling during this time confirmed the bearish move. However, volume during the subsequent rebound has been relatively lighter, suggesting a lack of conviction in the short-term bounce. A divergence between price and volume could indicate an impending reversal or a continuation of bearish momentum, depending on follow-through volume.

The 24-hour move suggests that BNTUSDT may remain under bearish pressure in the near term, but a rebound toward the $0.656–0.660 range could test the strength of the 38.2% Fibonacci level. Traders should monitor the 20-period SMA on the 15-minute chart for potential short-term resistance. A break below $0.6428 could extend the bearish trend further, with the next support level likely to be near $0.635–0.638. Investors are advised to remain cautious as volatility remains high and momentum indicators suggest a continuation of the bearish phase in the next 24 hours.

Backtest Hypothesis
A backtesting strategy could be constructed by combining RSI and MACD signals with Fibonacci levels. For example, one could enter a short position when RSI falls below 30 and MACD confirms bearish momentum, with a stop-loss placed above the 61.8% Fibonacci level. A take-profit target could be set at the 38.2% level. This approach would aim to capture short-term bearish moves while managing risk based on key retracement levels and momentum divergence.