Band/Tether (BANDUSDT) Market Overview

• BANDUSDT experienced a 24-hour decline from $0.718 to $0.664, marking a 7.5% drop.

• A notable bearish reversal occurred around 04:45 ET, with a sharp move from $0.704 to $0.693.

• Volatility spiked overnight, reaching $0.718, but failed to sustain above $0.704.

• MACD and RSI confirmed bearish momentum, with RSI dipping below 30 into oversold territory.

• Daily turnover hit $6.3 million, driven by large volume during the 14:15–15:00 ET selloff.

Band/Tether (BANDUSDT) opened at $0.695 on 2025-10-06 12:00 ET, reached a high of $0.722 overnight, and closed at $0.664 on 2025-10-07 12:00 ET, a 24-hour low. Total volume was 665,013 BAND, with $447,800 in notional turnover. The asset exhibited clear bearish bias, with key support zones forming around $0.695–$0.664 and resistance at $0.704–$0.718.

Structure & Formations

BANDUSDT formed a bearish engulfing pattern at 04:45 ET, confirming a breakdown after a short-lived bullish attempt. A doji emerged at 06:15 ET, indicating indecision amid downward pressure. Key support levels were confirmed at $0.701 and $0.695, while the $0.704 resistance failed to hold, suggesting further bearish potential if $0.664 is broken.

Moving Averages

On the 15-minute chart, the 20 EMA dipped below the 50 EMA, forming a bearish crossover. The 50-period and 100-period SMA aligned in a descending bias on the daily chart, confirming a longer-term downtrend. The 200-period SMA acts as a strong resistance at $0.705, reinforcing bearish momentum.

MACD & RSI

The MACD crossed into negative territory around 05:00 ET, with bearish divergence forming during the 14:15–15:15 ET selloff. The RSI dropped below 30 at 15:45 ET, entering oversold territory, but failed to generate a bounce, suggesting further downside could be ahead unless a bullish reversal forms.

Bollinger Bands

Volatility expanded during the early hours of 10/07, with the upper band reaching $0.718 at 04:45 ET. The price remained well below the lower band for much of the day, indicating bearish exhaustion. A contraction occurred between 07:00–08:15 ET, suggesting a potential reversal, but failed to confirm with follow-through buying.

Volume & Turnover

Volume spiked to 96,501 BAND at 08:15 ET during a $0.693 close, followed by another large selloff at 14:15 ET with 74,498 BAND traded. Turnover diverged from price after 12:00 ET, with volume remaining high but price continuing to fall—raising concerns about liquidity and participation.

Fibonacci Retracements

A key 61.8% Fibonacci level at $0.688 failed to hold during the 08:30–09:00 ET session, with price breaking below to $0.685. A 38.2% retracement at $0.696 was tested during the morning, but bearish bias remained intact. On a daily basis, the 61.8% level at $0.702 also failed, indicating a high probability of a continuation below $0.661.

Backtest Hypothesis

Given the bearish structure and confirmation from RSI and MACD, a potential backtest strategy could be built around shorting on a breakdown of the 20 EMA on the 15-minute chart, with a stop above the $0.701 resistance level and a target at $0.661–$0.655. This setup aligns with the observed Fibonacci retracements and recent volume patterns, suggesting a high probability trade in the next 48 hours.