Market Overview: BONK/Tether (BONKUSDT) – October 28, 2025

• BONK/USDT declined from 1.537e-05 to 1.481e-05 amid high volume and bearish momentum.
• Key support tested near 1.479e-05, with MACD and RSI signaling oversold conditions.
• Volatility expanded as price traded below 50-period and 200-period moving averages.
• Bollinger Bands showed contraction and expansion, with price near lower band at close.
• Fibonacci retracement levels suggest potential near-term bounce at 1.483e-05.

Bonk/Tether (BONKUSDT) opened at 1.504e-05 on October 27 at 12:00 ET, reached a high of 1.537e-05, and closed at 1.481e-05 by October 28 at 12:00 ET. The pair traded as low as 1.477e-05, showing bearish pressure. Total 24-hour volume amounted to 519,524,799,641.0, with a notional turnover of approximately $7,797 (based on 1.481e-05 average). The move was driven by increasing bearish momentum and diverging price/volume dynamics.

Structure & Formations

The 15-minute chart reveals a bearish breakdown after a brief bullish consolidation in the early hours. A key support level was tested at 1.479e-05, which has previously acted as a psychological floor. A long lower shadow at 1.478e-05 suggests rejection of further downside. A morning doji around 1.502e-05 signals indecision, while a bearish engulfing pattern formed after 20:30 ET on October 27, confirming a shift in sentiment.

Moving Averages

Price closed below both the 20-period (1.498e-05) and 50-period (1.495e-05) moving averages on the 15-minute chart, reinforcing the short-term bearish bias. Daily averages are more bearish: the 50-day (1.493e-05), 100-day (1.478e-05), and 200-day (1.465e-05) all show declining trends, with price now firmly below all of them. This alignment of moving averages across timeframes suggests sustained bearish pressure.

MACD & RSI

MACD turned negative in the afternoon of October 27 and remained bearish into October 28. The histogram showed a gradual narrowing, suggesting momentum is exhausting but not reversing. RSI hit oversold territory at 30.5, reaching a low of 28.1 by midday on October 28, indicating potential for a short-term bounce. However, RSI failed to close above 35, suggesting bearish exhaustion may not lead to a strong reversal.

Bollinger Bands

Volatility expanded during the decline from 1.537e-05 to 1.479e-05, with Bollinger Bands widening. Price closed near the lower band at 1.478e-05, suggesting it may test the band as a potential support area. A rebound from the lower band could be confirmed if price closes above the middle band (1.485e-05), but a break below the 1.477e-05 level would indicate further bearish momentum.

Volume & Turnover

Volume surged during the early morning hours of October 28, peaking at 94,008,175,476.0, coinciding with the sharp selloff. However, volume during the rebound attempt near 1.483e-05 was relatively muted, suggesting limited buying interest. Notional turnover followed a similar pattern, confirming the bearish momentum. Price-volume divergence in the afternoon suggests caution for further short-term bearish moves without confirmation.

Fibonacci Retracements

On the 15-minute chart, Fibonacci retracement levels from the 1.537e-05 high to 1.479e-05 low suggest key levels at 1.483e-05 (23.6%), 1.489e-05 (38.2%), and 1.496e-05 (50%). A bounce off the 23.6% level would confirm a short-term countertrend move. On the daily chart, the 38.2% retracement at 1.494e-05 appears as a critical level to watch for a potential shift in bias.

Backtest Hypothesis

The RSI-based backtesting strategy outlined (buy when RSI < 30, sell after 7 days) aligns with the observed overbought and oversold levels. Given the recent RSI drop to 28.1, a potential entry point was present on October 28. However, the lack of confirmation above the 35 threshold raises questions about the reliability of a short-term reversal. For a 2022–2025 backtest, verifying the correct exchange pair and quote currency is critical due to BONK’s low liquidity on some platforms. Using a recognized symbol—such as BINANCE: BONKUSDT—would ensure accurate RSI data and meaningful results. A 7-day hold after such a signal could be profitable if the market retests the 1.483e-05 level with strength.