BELUSDT Bounces Near 0.1029 as RSI Hits Oversold

Summary
• Price fell from 0.1059 to 0.1013 amid bearish momentum.
• A large bullish reversal candle formed near 0.1029, hinting at potential support.
• Volume surged during late ET rebound, suggesting buying interest.
• RSI hit oversold territory, raising chances of near-term rebound.
• Bollinger Bands widened during the sell-off, reflecting heightened volatility.

Bella Protocol/Tether (BELUSDT) opened at 0.1043 on 2026-02-06 12:00 ET, reached a high of 0.1060, a low of 0.1012, and closed at 0.1024 as of 2026-02-07 12:00 ET. Total volume was 1,422,003.3, with turnover at 148,355.32.

Structure & Formations

Price broke below prior support at 0.1035 and tested 0.1012, finding a temporary floor. A bullish engulfing pattern formed during a late ET rebound near 0.1029, which may serve as a short-term support level. A doji appeared during the 0.1034–0.1029 range, signaling indecision.

Moving Averages

On the 5-minute chart, the price closed above the 20-period and below the 50-period moving average, suggesting mixed signals. On the daily chart, the 50-period MA may act as resistance near 0.105, while the 200-period MA is likely around 0.104.

MACD & RSI

MACD turned negative and diverged from a late ET rally, indicating weak bullish momentum. RSI dropped to oversold levels near 28, suggesting a potential bounce is due. However, divergence between price and MACD raises concerns about the strength of that rebound.

Bollinger Bands

Volatility expanded as the price dropped from 0.1060 to 0.1012, pushing the bands wider. Price now appears within the lower band at 0.1022, suggesting oversold conditions and a possible bounce.

Volume & Turnover

Volume spiked during the 16:00–17:00 ET session, coinciding with a sharp rebound from 0.1023 to 0.1060. Turnover surged to 103,713.54 at 16:15 ET, confirming a short-term reversal. However, volume has since decreased, indicating limited follow-through buying.

Fibonacci Retracements

Fibonacci retracement levels from the recent high (0.1060) to the low (0.1012) suggest key levels at 0.1039 (38.2%) and 0.1025 (61.8%). The price closed near 0.1024, aligning with the 61.8% level, which could act as a near-term support.

Bella Protocol may test the 0.1024–0.1029 zone for support, with a possible bounce back toward 0.1031–0.1035. However, a break below 0.1022 could extend the decline. Investors should monitor RSI for overbought levels and divergences in MACD for early signs of exhaustion in either direction.