Band/Tether Market Overview for 2025-10-04

• BANDUSDT fell 3.3% over the last 24 hours, closing below key support levels after a sharp midday drop.
• High volatility observed, with Bollinger Band expansion and RSI entering oversold territory below 30.
• Volume surged in early trading but faded in the afternoon, raising questions about sustainability of the move.
• A bearish engulfing pattern emerged at 0.710–0.704, signaling a potential continuation of the downtrend.

BANDUSDT opened at 0.704 on October 3 at 12:00 ET, climbed to a high of 0.717 before the 12:00 ET close on October 4, and then dropped to a low of 0.664 in the early hours of the morning, finally closing at 0.664. Total 24-hour volume reached 1,168,388.9, while turnover hit $675,435. The pair is now at a critical juncture following a strong bearish reversal and increasing bearish momentum.

Structure & Formations

Price action showed a bearish reversal after reaching a local peak of 0.717. A bearish engulfing pattern formed during the 17:00–17:15 ET candle (0.717–0.704), which appears to confirm a shift in sentiment. A potential support area emerged at 0.693–0.690 after the price consolidated below the 0.700 level for most of the day. A doji formed near 0.675–0.675 at 11:45 ET, indicating indecision, but was quickly followed by a bearish continuation.

Moving Averages

The 15-minute chart shows price below both the 20 and 50 EMA lines, confirming a short-term bearish bias. On the daily chart, BANDUSDT closed below the 50, 100, and 200-day EMA lines, reinforcing the bearish trend. Crossovers suggest further downward momentum could persist unless there is a strong reversal above 0.710–0.704.

MACD & RSI

MACD lines turned negative and remained bearish throughout the 24-hour window, with no sign of bullish divergence. RSI dropped to oversold territory below 30, suggesting the potential for a short-term bounce. However, the lack of a bullish crossover in the MACD histogram indicates that bearish pressure remains strong.

Bollinger Bands

Bollinger Bands showed a sharp expansion after the morning high at 0.717, signaling increased volatility. Price closed well below the 20-period lower band, indicating oversold conditions and potential for a bounce. A retest of the upper band at 0.710–0.704 could offer a short-term profit target for bears.

Volume & Turnover

Volume spiked in the early hours (12:00–18:00 ET) with a total of 547,640.2 traded, followed by a sharp decline after 20:00 ET. Turnover dropped from $386,900 in the morning to $66,000 after 22:00 ET, suggesting fading bearish conviction. Divergence between price and volume suggests the move may lack follow-through unless a new catalyst emerges.

Fibonacci Retracements

Applying Fibonacci to the 0.717–0.664 swing, key levels include 61.8% at 0.689 and 38.2% at 0.699. Price failed to find support at the 61.8% level and continued lower, indicating weak bullish sentiment. A retest of the 38.2% level may offer a short-term bounce target for bulls.

Backtest Hypothesis

A potential backtest strategy for BANDUSDT could focus on short-term bearish continuation using the 20 EMA and RSI for entry confirmation. Traders could look to short on a close below 0.695 with a stop above 0.698 and a target at 0.675–0.670. RSI below 30 could trigger a short bias, while a move above 0.698 could negate the setup. Given the recent bearish engulfing and low volume divergence, this strategy may offer a favorable risk-reward profile for the next 48 hours.