Market Overview for Particle Network/BNB (PARTIBNB)

• Particle Network/BNB declined 9.6% over 24 hours, closing at 6.399e-05 after a sharp drop to 6.171e-05.
• High volume traded during sharp sell-off at 20:00 ET, followed by consolidation and limited follow-through.
• RSI dipped into oversold territory below 30, while MACD turned negative, indicating bearish momentum.
• Price remains below key 20- and 50-period SMAs on the 15-min chart, with no immediate reversal signs.

At 12:00 ET on 2025-10-28, Particle Network/BNB (PARTIBNB) opened at 6.768e-05, reached a high of 6.768e-05, and closed at 6.399e-05 after hitting a low of 6.171e-05.
The pair experienced a 24-hour trading volume of ~73,620.7 and notional turnover of ~$4.85, with sharp selling at 20:00 ET driving the decline.

Structure & Formations

The 24-hour chart shows a bearish breakdown from a short-term consolidation pattern after 19:45 ET. A bearish engulfing pattern formed at 20:00 ET as prices gapped down, confirming the breakdown. The pair then entered a rangebound phase between 6.341e-05 and 6.513e-05, failing to reclaim key resistance levels like 6.513e-05 and 6.548e-05. A series of doji and spinning tops between 03:00 and 07:00 ET indicate indecision, with sellers regaining control after 08:00 ET.

Moving Averages & Bollinger Bands

The 15-minute chart shows the price below both 20- and 50-period SMAs, confirming bearish momentum. The daily chart has the price above its 200-period SMA but below 50- and 100-period SMAs, suggesting medium-term bearish bias. Bollinger Bands widened during the sell-off at 20:00 ET, indicating heightened volatility, with prices closing near the lower band. A contraction between 03:00 and 07:00 ET suggests reduced volatility and potential consolidation ahead.

MACD & RSI

The MACD turned negative at 20:00 ET, confirming the bearish breakout and remaining negative through 14:00 ET. The RSI dipped below 30 on 10-28, signaling oversold conditions, but failed to generate a meaningful rebound. Momentum remains weak, and a sustained move above 6.548e-05 would be needed to reverse sentiment.

Volume & Turnover

Volume spiked to 13,956 at 20:00 ET, the highest of the 24-hour period, during the breakdown. Subsequent volume remained low, suggesting limited follow-through. Turnover also spiked during the sell-off but decreased significantly afterward, indicating a lack of conviction in the bearish move.

Fibonacci Retracements

Applying Fibonacci levels to the 19:45–20:00 ET swing (6.74e-05 to 6.557e-05), the 38.2% retrace level is at ~6.65e-05 and 61.8% at ~6.59e-05. The price found temporary support at the 61.8% level (~6.59e-05), but failed to hold above it. On the daily chart, the 61.8% retrace of the broader downtrend is at ~6.34e-05, where the price currently consolidates.

Backtest Hypothesis

The bearish engulfing pattern observed at 20:00 ET, forming at a short-term resistance (6.74e-05), could be a candidate for a backtest strategy focused on “Bearish Engulfing at Resistance.” For such a strategy, resistance levels can be defined as the 50-day high, and candlestick data would include daily OHLC. Given the current data, the next step would be to identify tickers (e.g., PARTIBNB), define exit rules (e.g., stop-loss at 6.45e-05 or sell after 3 days), and run the backtest from 2022-01-01 to 2025-10-28.

Looking ahead, buyers may test the 6.45e-05 to 6.513e-05 range in the next 24 hours, but a retest of 6.171e-05 remains a risk if sentiment deteriorates further. Investors should monitor volume and order flow for signs of accumulation or capitulation.