Market Overview for Haedal Protocol/BNB (HAEDALBNB) as of 2025-11-08

Summary
• Price formed bearish momentum with a 1.7% 24-hour decline to 7.76e-05.
• Low volume and consolidation suggest weak conviction in directional movement.
• RSI entered oversold territory, hinting at potential near-term support testing.

Opening Narrative

Haedal Protocol/BNB (HAEDALBNB) opened at 7.94e-05 on 2025-11-07 at 12:00 ET, hit a high of 8.03e-05 and a low of 7.65e-05, closing at 7.76e-05 as of 12:00 ET on 2025-11-08. Total volume over the 24-hour period was 16,549.4 and total turnover amounted to approximately 1.29 (notional).

Structure & Formations

Price moved in a tight range with minimal volatility, forming a bearish flag pattern between 7.9e-05 and 7.78e-05. A doji at 7.76e-05 on the 24-hour close suggests indecision. Key support levels are visible at 7.65e-05 and 7.78e-05, with resistance at 7.8e-05 and 7.92e-05.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are closely aligned, indicating a flat to slightly bearish bias. On the daily chart, the 50-period MA appears to be trending slightly lower than the 200-period MA, suggesting a potential continuation of a short-term downtrend.

MACD & RSI

The MACD remains near zero with no clear divergence, indicating a lack of strong momentum. The RSI has dipped below 30, signaling oversold conditions. However, the absence of a bullish reversal pattern or volume confirmation suggests a test of support levels is likely before a reversal could be expected.

Bollinger Bands

Volatility has been contracting over the past 6 hours, with price tightening into the lower band. This may indicate a potential breakout or reversal point, particularly if the RSI rebounds above 30 in tandem with increased volume.

Volume & Turnover

Trading volume was extremely low until the 20:30 ET time frame, when a sharp drop in price coincided with a volume spike of 3530.0. However, the lack of follow-through volume suggests the move may not have been driven by strong institutional interest.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from 8.03e-05 to 7.65e-05, the 38.2% retracement level is at 7.84e-05 and the 61.8% level is at 7.78e-05. Price has bounced off the 61.8% level, suggesting this may be a short-term support zone.

Backtest Hypothesis

Given the current RSI position in oversold territory and the lack of strong bearish confirmation, a backtest could be conducted using an "RSI Oversold (≤30) buy, hold 5 days" strategy. However, as noted, we require a valid ticker symbol for the data source to retrieve price and RSI history. If the current symbol is not recognized, we recommend confirming the correct format—such as including an exchange suffix (e.g., “.US”)—or providing an alternative asset for testing. Once the data is accessible, a full backtest can be executed, and performance metrics such as win rate, average return, and Sharpe ratio can be calculated and visualized.