Band/Tether (BANDUSDT) Market Overview

• BANDUSDT declined from 0.671 to 0.665 on elevated volume, signaling bearish momentum.
• MACD and RSI showed weakening bullish momentum with RSI entering oversold territory.
• Price remained below the 20-period moving average, suggesting short-term bearish bias.
• Bollinger Bands showed moderate volatility with price hovering near the lower band.
• Turnover surged during the 6:15–6:30 AM ET breakout, hinting at possible short-term volatility.

24-Hour Price and Volume Summary

At 12:00 ET-1 on 2025-09-22, Band/Tether (BANDUSDT) opened at 0.643 and reached a high of 0.671 before closing at 0.665 as of 12:00 ET on 2025-09-23. The price touched a low of 0.634 during the session. Total traded volume amounted to 869,792.24 BAND, with a notional turnover of $583,195.50. This 24-hour period shows mixed momentum, with a key breakout attempt followed by consolidation and pullback.

Structure & Formations

The 15-minute chart for BANDUSDT showed a moderate bearish bias following the early morning rally. A notable bearish engulfing pattern formed during the 06:15–06:30 ET session, confirming a potential short-term top. The price then entered a range-bound phase, with key support levels forming at 0.655–0.66 and resistance at 0.668–0.67. A series of doji and indecisive candles from 09:00–10:30 ET indicated a tug-of-war between buyers and sellers. These formations suggest a period of consolidation, with potential for a breakout or breakdown in the near term.

Moving Averages and Momentum

The 20-period and 50-period moving averages on the 15-minute chart both trended downward during the 24-hour period, reinforcing bearish bias. The 50-period MA crossed below the 20-period MA, signaling a short-term bearish crossover. On the daily chart, the 50-period MA remained above the 200-period MA, indicating a longer-term bullish trend, though it was interrupted by recent bearish momentum. The MACD remained in negative territory with a bearish crossover, while RSI dipped into oversold levels, suggesting a potential rebound but not a reversal.

Volumes and Turnover

Turnover spiked during the 06:15–06:30 ET window, coinciding with the breakout attempt and bearish engulfing pattern. Volume surged to over 107,022.3 BAND during that session, confirming the bearish reversal. However, volume in subsequent sessions remained moderate, indicating a lack of conviction from longs. A divergence between price and volume was observed in the afternoon, as price continued to consolidate while volume remained subdued, suggesting a potential lack of follow-through from sellers or buyers.

Bollinger Bands and Volatility

Bollinger Bands showed a moderate expansion during the morning hours, reflecting increased volatility due to the breakout attempt. Price then settled near the lower band for most of the afternoon, indicating a bearish bias. A contraction in the bands around 10:30–11:15 ET suggested a period of low volatility and indecision. Price has shown a tendency to bounce from the lower band, but with bearish momentum, a break below the lower band could confirm a stronger downward move.

Fibonacci Retracements and Key Levels

Using the 15-minute swing from 0.634 to 0.671, Fibonacci retracement levels were identified. Price is currently hovering near the 38.2% retracement level at 0.662, which could act as a potential support or resistance. On a daily chart, the 61.8% retracement level from a larger bearish move is at 0.655, where the price found support and bounced multiple times. These levels will be critical to monitor for signs of reversal or continuation.

Backtest Hypothesis

A potential backtest strategy could be built around the convergence of bearish engulfing patterns and bearish MACD crossovers. Traders might look to short on confirmation of such patterns near key resistance levels, with a stop-loss placed above the nearest support or the high of the engulfing candle. A take-profit could be set at the next Fibonacci or support level. This setup would be most effective during periods of high volume and volatility, as seen in the early morning breakout. Given the recent bearish momentum and oversold RSI readings, this strategy could provide a reasonable risk-to-reward setup in the near term.