Band/Tether Market Overview: Volatility and Confirmation in a 24-Hour Rally

• Band/Tether (BANDUSDT) formed a key bullish engulfing pattern at 0.741 before a sharp 1.6% rally on increased volume.
• Volatility expanded overnight with a high-low range of 0.012, reaching 0.767 before consolidating.
• RSI crossed into overbought territory after a 6.5-hour upward move, suggesting potential near-term profit-taking.
• Volume surged 3.4x during the 0.74–0.767 rally, confirming strength but hinting at consolidation ahead.
• A 61.8% Fibonacci retracement at 0.753 may act as a pivot point for short-term direction.

24-Hour Price Movement and Volume

Band/Tether (BANDUSDT) opened at 0.743 on 2025-09-20 12:00 ET and traded as high as 0.767 before closing at 0.735 at 2025-09-21 12:00 ET. The 24-hour period saw a high of 0.767 and a low of 0.732. Total volume reached 763,629.0 and turnover was approximately 569,794 USDT (calculated as total volume × average price). The asset displayed a volatile 1.8% range with key support at 0.732 and resistance at 0.767.

Structure and Candlestick Formations

A bullish engulfing pattern formed at 0.741 during the 19:00–19:30 ET session, signaling a turning point in the 24-hour window. This pattern coincided with rising volume and a sharp reversal in direction. A large bearish candle appeared at 0.752–0.750 between 12:00 and 12:45 ET on 2025-09-21, suggesting increased selling pressure at higher levels. A potential doji formed around 0.747–0.745, indicating indecision and possible consolidation.

MACD, RSI, and Momentum

MACD lines showed a strong bullish crossover during the 0.741–0.767 move, confirming the strength of the rally. However, RSI reached overbought levels (72–75) during the peak, suggesting a potential pullback. The momentum diverged slightly in the latter part of the 24-hour window, with prices rising but RSI failing to maintain above 65. This divergence could indicate a temporary pause in upward bias.

Bollinger Bands and Volatility

Volatility expanded significantly during the 18:30–20:45 ET window, with Bollinger Bands widening from 0.742–0.747 to 0.732–0.767. Prices spent most of the session near the upper band, indicating strength, but closed near the middle band, suggesting a period of consolidation. A notable contraction occurred in the early hours (00:00–01:00 ET), which preceded a breakout from 0.747–0.752.

Volume and Turnover Analysis

Volume surged to 206,830.5 during the 06:45–07:00 ET session, coinciding with a high of 0.77 and a 0.76–0.77 range breakout. This volume spike confirmed the strength of the move. However, turnover dropped after 09:00 ET despite continued price declines, suggesting a loss of buyer momentum. Divergence between volume and price decline (e.g., 09:15–10:00 ET) indicated weakening conviction.

Fibonacci Retracements and Pivotal Levels

Fibonacci retracement levels from the 0.741–0.767 move showed strong support at the 61.8% level (0.753) and resistance at 0.767 (the 100% level). A 38.2% retracement (0.750) also acted as a key pivot during the 24-hour window. The 61.8% level appears to have served as a floor for the asset in the latter half of the session, with price testing it twice before retreating.

Backtest Hypothesis

Given the observed bullish engulfing pattern and confirmed strength through rising volume and RSI momentum, a backtest strategy could target a long position at 0.741 with a stop-loss at 0.737 and a take-profit at 0.753. The 0.753 level aligns with the 61.8% Fibonacci retracement and offers a risk-reward ratio of approximately 1:1.5. This approach would aim to capitalize on the short-term reversal while managing risk with a tight stop and defined target.