Market Overview for BNTUSDT (Bancor/Tether) on 2025-09-14

• Price fell from $0.7846 to $0.7690 within 24 hours, with oversold RSI indicating potential rebound.
• Volatility surged midday as volume spiked to 136,576.3 BNT, confirming bearish momentum.
• A large bearish engulfing pattern formed during the evening ET, signaling strong downward pressure.
• BNTUSDT traded within Bollinger Band midline for most of the session, showing contained consolidation.
• Divergence in price and volume was noted near the session close, hinting at potential reversal cues.

Bancor/Tether (BNTUSDT) opened at $0.7827 (12:00 ET − 1) and closed at $0.7752 (12:00 ET) after hitting a high of $0.7856 and a low of $0.7679. Total volume reached 136,576.3 BNT, with a turnover of approximately $105,262 (based on average prices), reflecting heightened activity.

Structure & Formations

BNTUSDT formed a distinct bearish engulfing pattern around 20:00–20:30 ET, where price closed lower than the prior candle's open, confirming a strong bearish sentiment. A doji appeared near the 04:30–05:00 ET period, signaling indecision and potential exhaustion in the downward move. Key support levels can be identified at $0.7735 and $0.7690, with resistance forming at $0.7780 and $0.7814. These levels could play a critical role in defining the next directional move.

Moving Averages

On the 15-minute chart, the 20- and 50-period SMAs trended downward throughout the session, with price consistently trading below the 50SMA. This suggests ongoing bearish control. On the daily chart, the 50, 100, and 200-period SMAs are in a downward slope, reinforcing the bearish bias and indicating that the asset is trading in a descending trend channel.

MACD & RSI

The MACD remained negative with bearish momentum, and the histogram expanded during the bearish engulfing pattern, reinforcing the strength of the sell-off. The RSI dipped below 30 toward the end of the session, entering oversold territory. This could hint at potential support holding, but caution is warranted as it may also indicate an extended downtrend.

The Bollinger Bands displayed a wide range midday, with a volatility surge following the 18:00 ET time. Price traded inside the lower band for much of the evening, suggesting a period of consolidation and low volatility. However, the bands began to contract in the early morning, indicating a potential breakout or reversal scenario in the near term.

Volume & Turnover

Volume spiked to a peak of 136,576.3 BNT at 18:15 ET, coinciding with the session’s high of $0.7856. This volume spike confirmed the strength of the bearish move. Notional turnover also showed a sharp increase during the same period, aligning with price movement and reinforcing the validity of the bearish breakout. Divergence was noted around 00:45–01:00 ET, where volume rose but price continued lower, hinting at a potential bottoming process.

Fibonacci Retracements

Applying Fibonacci retracements to the major swing from $0.7856 to $0.7690, the 38.2% level aligns with $0.7762 and the 61.8% level with $0.7725. The recent low at $0.7690 suggests a potential base for a short-term bounce. If price holds above the 61.8% level, a retest of the 38.2% and 50% levels could follow.

Backtest Hypothesis

The backtest strategy involves entering a long position when BNTUSDT closes above the 50-period SMA on the 15-minute chart, accompanied by a bullish divergence in the RSI and a breakout above a key support-turned-resistance level. Exit the position upon a close below the 20-period SMA or after three consecutive bearish closes. This setup would aim to capture short-term rebounds from oversold conditions, particularly after bearish consolidation. Given today’s price action and RSI divergence, this strategy could be tested as the market approaches a potential support zone near $0.7735.