Market Overview for Bonk/Tether (BONKUSDT): Volatility Peaks Amid Downtrend

• Price fell sharply to $0.00002524 by 01:15 ET, breaking key support and triggering bearish momentum.
• RSI oversold near 30, suggesting possible short-term rebound, but bearish volume bias persists.
• Bollinger Bands widened, showing heightened volatility and price near the lower band at key moments.
• Volume spiked during the selloff, with turnover exceeding $90 billion as bears dominated the 24-hour session.
• Key Fibonacci levels at $0.00002542 (38.2%) and $0.00002529 (61.8%) are now potential turning points.

Bonk/Tether (BONKUSDT) opened at $0.00002646 on 2025-09-13 at 12:00 ET and closed at $0.00002556 at 12:00 ET the following day. The 24-hour period saw a low of $0.00002524 and a high of $0.00002669. Total volume reached 332,211,977,088 and notional turnover exceeded $9.1 billion, signaling aggressive selling pressure.

Structure & Formations

The 15-minute chart reveals a strong bearish bias from mid-afternoon ET through the early morning. Key support was tested and broken at $0.00002536 (17:15 ET), with a further breakdown to $0.00002524 (01:15 ET). A bearish engulfing pattern formed around $0.00002624 (22:30 ET) and confirmed the downward shift in sentiment. A doji at $0.00002599 (00:00 ET) indicates indecision, suggesting the potential for a short-term bounce or continuation depending on volume confirmation.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages have been in a bearish crossover since mid-day, with price consistently below both. On the daily timeframe, the 50-period MA has crossed below the 200-period MA, forming a bearish “death cross” pattern. This aligns with the short-term trend but does not yet signal a long-term bearish regime.

MACD & RSI

The MACD turned negative mid-afternoon and has remained below the signal line, showing bearish momentum. The histogram has been shrinking slightly in the late hours, suggesting a potential slowdown in selling. RSI dipped to 29 at 01:15 ET, indicating oversold conditions. However, volume did not confirm a rebound, which could suggest a false signal or continued bearish bias.

Backtest Hypothesis

The described backtesting strategy suggests using a combination of RSI divergence and Bollinger Band contractions to identify high-probability short-term reversal opportunities. In this 24-hour period, a bearish divergence formed as RSI hit oversold territory without a strong volume rebound. A Bollinger contraction occurred mid-day before the sharp selloff. This aligns well with the strategy’s logic, suggesting a potential sell-entry confirmation on RSI divergence and widening bands. A backtest would need to include strict risk management and time-bound entries to evaluate profitability.

Volatility & Bollinger Bands

Bollinger Bands significantly expanded during the selloff, reaching their widest point at $0.00002524. This expansion is often a precursor to either a continuation or reversal. Price briefly rebounded from the lower band at $0.00002536 and $0.00002556, suggesting these could be potential support levels. However, the failure to hold above $0.00002570 raises concerns about the strength of a bounce.

Volume & Turnover

Volume spiked during the selloff, peaking at $90 billion in turnover, which correlates with price falling below $0.00002540. This suggests a strong bearish commitment rather than a washout. The volume profile shows a sharp drop-off in the last hour, indicating possible exhaustion among sellers. However, buyers have not shown strong conviction at current levels. A divergence between price and volume in the next 24 hours could signal a turning point.

Looking ahead, the immediate focus is on $0.00002536 and $0.00002556 as key levels. A rebound above $0.00002570 could attract short-term buyers, but a break below $0.00002529 would likely extend the correction. Investors should be cautious of extended bearish momentum and prepare for potential follow-through selling if RSI fails to confirm a rebound.