Market Overview for BNB/Tether (BNBUSDT)

Summary
• Price declined from 868.94 to 840.79, forming bearish patterns and hitting key support levels.
• Volatility increased with a 24-hour turnover of $46.3M and volume peaking near 7,000 BTC.
• RSI reached oversold territory, while MACD showed bearish momentum with a negative divergence.
• Bollinger Bands widened during the drop, signaling a period of heightened volatility.
• Fibonacci levels at 850.11 and 840.28 became relevant as potential support and short-term bounce points.

BNB/Tether (BNBUSDT) opened at 868.94 (12:00 ET − 1) and closed at 840.79 by 12:00 ET today, with a low of 838.24 and a high of 869.16. The 24-hour trading volume was 44,690.52 BNB, with a notional turnover of approximately $46.3M, reflecting elevated bearish pressure and volatility.

Structure & Moving Averages

The price structure showed a clear breakdown below the 5-minute 20-period and 50-period moving averages, which both acted as resistance during the early part of the session. The 50-period daily MA was also breached, confirming a medium-term bearish bias. Key support levels were identified at 850.11, 846.6, and the critical Fibonacci 61.8% level at 840.28.

Momentum Indicators: MACD & RSI

The MACD crossed below the signal line, reflecting bearish momentum that accelerated during the late afternoon and evening hours.

RSI reached oversold conditions in the 30–35 range, suggesting a potential rebound may be near. However, a bearish divergence between the MACD and price movement during the drop raises concerns about further downside.

Volatility & Bollinger Bands

Volatility expanded significantly as the price dropped toward the lower Bollinger Band, with the band width reaching a daily high. The contraction before the drop indicated a period of consolidation, followed by a sharp break to the downside. Price remained near the lower band for much of the session, suggesting continued risk of testing key support levels.

Volume and Turnover

Volume spiked notably during the selloff, especially between 19:15 and 20:30 ET, when turnover reached peaks near $3.2M and $4.8M. This volume confirmed the bearish breakdown and was largely aligned with price movement, showing no significant divergence.

Looking ahead, the 840.28 level may act as a psychological floor. A break below this could target 830.0, while a rebound from the 850.11 level could see a temporary bounce. Investors should remain cautious, as momentum indicators suggest a high probability of further downward testing over the next 24 hours.