Market Overview: Bella Protocol/Tether (BELUSDT) on 2025-12-11

Summary
• Price declined from 0.1477 to 0.1383 on 24-hour 5-minute candles.
• A large bearish engulfing pattern formed after the 0.1477 high.
• Volume surged near the peak before reversing sharply downward.
• RSI dipped into oversold territory below 30 near the 0.1362 level.
• Bollinger Bands widened during the sharp decline, indicating increased volatility.

Market Overview

Bella Protocol/Tether (BELUSDT) opened at 0.1445 at 12:00 ET–1, reached a high of 0.1477, a low of 0.1362, and closed at 0.1383 at 12:00 ET. Total volume amounted to 3,420,152.9, with a notional turnover of approximately $488,322. The price action suggests a bearish reversal from a key resistance level.

Structure & Formations

A bearish engulfing pattern formed near the 0.1477 high, where price opened at 0.146 and closed at 0.1477, before reversing sharply lower. This suggests a potential top formation. A doji near 0.1362 indicates indecision and possible support. A descending triangle pattern may be forming between 0.1477 and 0.1362, with a potential target at 0.1324.

MACD & RSI

The MACD histogram contracted after the high, indicating weakening bullish momentum. The RSI dipped below 30 near the 0.1362 level, suggesting oversold conditions. However, a bounce off this level without a RSI rebound above 40 may indicate a deeper bearish move.

Bollinger Bands

Bollinger Bands expanded significantly during the sharp decline from 0.1477 to 0.1362, showing heightened volatility. The price has since tested the lower band at 0.1362, with a potential retest of the upper band at 0.1477 expected if a reversal occurs.

Volume & Turnover

Volume spiked at the high of 0.1477, with a large 5-minute bar showing 431,470.0 units traded. This was followed by a sharp drop in turnover, suggesting exhaustion. Volume continued to rise as price declined, confirming the bearish move.

Fibonacci Retracements

Fibonacci retracement levels from the 0.1477 high to the 0.1362 low show 38.2% at 0.1439 and 61.8% at 0.1394. A break below 0.1362 could target 0.1324, which is 100% of the retracement. On the daily chart, the 61.8% level is at 0.1419, aligning with potential near-term support.

In the next 24 hours, BELUSDT may test the 0.1362 support level for a potential bounce or break lower. A close below 0.1362 could increase the risk of a further decline toward 0.1324. Investors should remain cautious of extended bearish moves without a clear reversal pattern.