Market Overview: BNTUSDT on 2025-10-04

• BNTUSDT declined from a high of 0.7149 to 0.6985, closing at 0.6989 with high volatility and uneven volume distribution.
• A bearish reversal pattern emerged around 0.7079, with RSI showing oversold conditions near the close.
• Bollinger Bands constricted during consolidation phases, followed by a breakout attempt that failed to sustain.
• Volume spiked during the 17:15 ET candle, indicating increased selling pressure but lacked follow-through.
• Key support appears at 0.6967–0.6971, with potential for a bounce or deeper pullback depending on order flow.

Bancor/Tether (BNTUSDT) opened at 0.7031 on 2025-10-03 12:00 ET, reached a high of 0.7149, touched a low of 0.6950, and closed at 0.6989 by 12:00 ET on 2025-10-04. Total volume for the 24-hour window was approximately 222,346.8, with notional turnover reaching $152,253.3 (based on 0.7031–0.6989 average price). The pair has shown mixed momentum with bearish dominance in the latter half of the period.

Structure & Formations

The pair displayed a notable bearish engulfing pattern at 0.7079–0.7033 during the 17:15–17:30 ET period, followed by a failed rally at 0.7087–0.7044. A doji formed around 0.6981–0.6973 during the early morning hours, suggesting indecision. Key support levels at 0.6967–0.6971 appear to have held, with 0.6950–0.6963 as secondary support. Resistance is likely to reappear around 0.7037–0.7044.

Moving Averages

Price spent much of the 24-hour window below its 20-period and 50-period moving averages on the 15-minute chart, confirming a short-term bearish bias. On the daily chart, the 50-period line is above the 100- and 200-period lines, but price remains below all, suggesting continued downward pressure.

MACD & RSI

MACD showed bearish divergence with price during the 17:15–18:00 ET window, confirming the downward leg. RSI hit oversold territory near the 30 level at the close, potentially signaling a near-term bounce. However, without a strong reversal in momentum, this may not translate to a sustained rally.

Bollinger Bands

Bollinger Bands constricted between 0.7033–0.7066 during the 00:15–01:15 ET window, followed by a breakout to the downside that held. Price closed near the lower band at 0.6989, indicating potential for a bounce from the 0.6967–0.6971 level. However, a further test of the 0.6950–0.6963 zone remains a risk.

Volume & Turnover

Volume spiked during the 17:15–17:30 ET candle with nearly 33,620.1 volume, confirming a bearish move from 0.7072 to 0.7074. Notional turnover also spiked during the same period. However, volume during the 01:15–02:30 ET window was relatively low, even as price continued to decline, hinting at possible exhaustion or fading interest.

Fibonacci Retracements

Applying Fibonacci retracements to the key 0.6950–0.7149 swing, the 0.7037 level corresponds to the 38.2% retracement, and 0.7005 marks the 61.8%. These levels have acted as minor resistance and support, with price failing to hold above 0.7044 and rebounding off 0.6989. A break below 0.6967 could bring the 50% retracement at 0.7050 into play on a rebound.

BNTUSDT may consolidate near current levels or test the 0.6967–0.6971 support zone in the next 24 hours. A sustained close above 0.7044 could signal a short-term reversal, while a breakdown of 0.6967 may indicate further downside. Investors should watch for confirmation from volume and RSI divergence to assess the likelihood of a bounce or continuation.

Backtest Hypothesis

Applying a backtesting strategy that triggers a short entry at the close of a bearish engulfing pattern (confirmed by a lower close) and targets a stop loss at the engulfing’s high with a take-profit at the nearest Fibonacci level (e.g., 0.6967–0.6971), this approach would have captured the decline from 0.7079 to 0.6989 in this case. A trailing stop could be placed near the 0.7044 level if the trend shows signs of exhausting. Given the recent RSI divergence and bearish MACD, this hypothesis could be considered for a short-term directional bet, with a time horizon of 2–4 hours.