Market Overview for BELUSDT (Bella Protocol/Tether USDt) on 2025-09-11

• BELUSDT opened at $0.2567 and closed at $0.2546 after a 24-hour range between $0.2509 and $0.2583.
• Price formed a bearish engulfing pattern near session high, followed by a failed retest and consolidation.
• High volatility observed mid-session, with volume peaking at $0.2583 and divergence seen in RSI.
• Bollinger Bands showed a narrow squeeze into late morning, followed by a breakout attempt to the upside.
• Total volume reached 1,862,004.4 and notional turnover hit $474,178.99, with midday and overnight spikes.

Bella Protocol/Tether USDt (BELUSDT) opened at $0.2567 on 2025-09-10 at 12:00 ET and closed at $0.2546 on 2025-09-11 at 12:00 ET, after fluctuating between a high of $0.2583 and a low of $0.2509. Total volume for the 24-hour window was 1,862,004.4, with a notional turnover of $474,178.99.

Structure & Formations

Price action on BELUSDT displayed a textbook bearish engulfing pattern around $0.2573 during the early afternoon, signaling a potential reversal from bullish momentum to bearish control. The pattern was followed by a failed retest, with prices rebounding briefly but failing to reclaim the high. Key support levels emerged at $0.2550 and $0.2536, where price found repeated bids. A doji formed near $0.2555 during the overnight session, suggesting indecision and the potential for a short-term reversal. Resistance levels include $0.2565 and $0.2573, both of which were tested multiple times during the session.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages showed a bearish crossover late in the session, with the 50-line crossing below the 20-line at approximately $0.2560. This indicates short-term bearish bias. On the daily chart, price remains below the 50- and 100-period moving averages, which are currently at $0.2570 and $0.2565, respectively, reinforcing the bearish trend.

MACD & RSI

The MACD showed a bearish crossover during the early afternoon session, with the line dropping below the signal line at $0.2570, aligning with the bearish engulfing pattern. Momentum continued to decay as the histogram contracted through the night. RSI reached overbought levels of 65 during the mid-session rally to $0.2583 but failed to break above 70, indicating a lack of conviction. Overnight, RSI dipped to 44, suggesting moderate oversold conditions but no strong buy signal. The divergence between price and RSI in the late afternoon highlights a potential overextension in the bearish move.

Bollinger Bands

Bollinger Bands showed a period of tightening volatility in the early morning hours, with the upper and lower bands converging around $0.2550. A breakout attempt to the upside followed, but it failed to sustain, closing near the lower band by late morning. The midday move saw price trade in a tight range within the bands, with the upper band acting as a dynamic resistance. By late afternoon, the bands widened again, reflecting renewed volatility and uncertainty in market direction.

Volume & Turnover

Volume spiked to 100,371.3 units at the $0.2582 high, aligning with a failed breakout attempt, and again at 186,200.4 units during a sharp midday pullback to $0.2546. Turnover mirrored the volume profile, with the largest notional value transacting during the 2:45–3:00 PM ET candle, reaching a peak of $51,433.40. A divergence between price and volume was evident after 10 PM ET, with price falling to $0.2546 but volume declining, suggesting reduced conviction in the bearish move.

Fibonacci Retracements

Using the recent swing from $0.2509 to $0.2583, the 38.2% retracement level sits at $0.2553 and the 61.8% level at $0.2542. Price found support near $0.2542, aligning with the 61.8% Fibonacci level and the earlier doji formation. This suggests a potential area of interest for further support. On the 15-minute chart, intra-day swings also aligned with key Fib levels, with price retesting the 61.8% level at $0.2550 and showing hesitation before breaking lower.

Backtest Hypothesis

The backtest strategy suggests using a combination of candlestick patterns and momentum indicators to capture short-term directional moves. Specifically, a long entry is triggered when a bullish engulfing pattern forms above the 20-period moving average and RSI confirms with a reading above 50. Conversely, a short entry is initiated when a bearish engulfing pattern forms below the 50-period MA and RSI dips below 50. Stop-loss is placed outside the pattern’s shadow, and a take-profit is set at the 38.2% or 61.8% Fibonacci retracement level depending on market conditions. This strategy aligns with the observed structure on BELUSDT, particularly the bearish engulfing pattern at $0.2573 and the failed retest of $0.2565, suggesting a potential short opportunity for the next session.