Bella Protocol/Tether (BELUSDT) Market Overview

• Price declined from $0.2414 to $0.2295 over 24 hours, ending at $0.2295
• Key bearish breakdown observed near $0.2340, with heavy selling into resistance
• Low volatility contraction noted during consolidation phases
• Notable volume spike during the breakdown into $0.2276
• RSI oversold condition reached, suggesting potential for a near-term rebound

Market Overview

Bella Protocol/Tether (BELUSDT) opened at $0.2379 on 2025-10-08 at 16:00 ET and closed at $0.2295 by 12:00 ET on 2025-10-09. During the 24-hour window, the pair reached a high of $0.2414 and a low of $0.2248. Total trading volume amounted to 1,947,570.8 units, with a notional turnover of $508,669.03.

The candlestick pattern displayed a broad bearish bias, with a key breakdown into the $0.2340–$0.2280 range. A significant sell-off occurred between 05:45 and 06:15 ET when the price dropped from $0.2350 to $0.2276 on a volume spike of 72,865.3 units. The price has since consolidated into a tighter range, with bearish momentum waning slightly toward the end of the window.

Structure & Formations

Key support levels are emerging around $0.2276 and $0.2248, while resistance is clustered near $0.2289 and $0.2303. A bearish engulfing pattern formed around 08:30 ET as the pair fell from $0.2311 to $0.2287, confirming a shift in sentiment. A doji formed near $0.2303 at 12:30 ET, suggesting possible exhaustion in the bearish wave.

The price appears to be forming a descending triangle pattern, with the upper boundary trending lower and a strong support line at $0.2248. This structure may lead to a breakout in the next 24 hours, either to retest $0.2276 or see a short-term rally toward $0.2303.

Moving Averages

On the 15-minute chart, the 20SMA is bearishly sloped below the 50SMA, reinforcing the current downtrend. The daily chart shows the 50DMA below the 200DMA, indicating a medium-term bearish bias. Price is below both the 50DMA and 200DMA, with no signs of reversal yet.

MACD & RSI

The 12:00 ET RSI has reached the 25–30 oversold range, suggesting a possible rebound. The MACD remains bearish, with the histogram trending lower and the signal line below zero. While the RSI could signal a near-term bounce, the MACD suggests continued bearish pressure unless the price closes above the 20SMA.

Bollinger Bands

Volatility has contracted in the last 6 hours, with the price trading near the lower band of the Bollinger bands. A reversal above the middle band could indicate a shift in momentum, while a breakdown below the lower band might see the price testing $0.2248 again.

Volume & Turnover

Volume peaked during the breakdown between 08:30 and 09:00 ET, confirming a significant shift in sentiment. Notional turnover aligned with the volume spike, reinforcing the bearish signal. However, in the last 6 hours, volume has declined, and price has stabilized near $0.2295, indicating reduced selling pressure.

Fibonacci Retracements

Applying Fibonacci to the recent swing from $0.2414 to $0.2248, key retracement levels include 23.6% at $0.2333, 38.2% at $0.2302, and 61.8% at $0.2269. The price has stalled near the 38.2% level and could either retest the 61.8% level or see a short-term bounce toward the 38.2%–23.6% range.

Backtest Hypothesis

Given the current technical setup and the emergence of a descending triangle pattern, a backtest strategy could focus on a breakout-based approach. A long bias could be triggered on a close above the $0.2303 resistance level, with a stop-loss placed below $0.2280. A short bias could be initiated on a close below $0.2276, with a stop above $0.2292. The strategy would leverage the MACD divergence and RSI readings to time entries more precisely, especially after a consolidation phase.