BIFIUSDT Breaks Below 170.8 Support Without Conviction

Summary
• Price broke below key support at 170.8, closing near 168.0 on 24-hour low volume.
• RSI shows oversold conditions, but bullish divergence is weak.
• Volatility expanded late, pushing price toward 166.0 psychological level.

Beefy/Tether (BIFIUSDT) opened at 171.5 on 2026-01-26 12:00 ET, peaked at 173.1, and closed at 168.0 by 12:00 ET on 2026-01-27. Total 24-hour volume was 1,131.45 units, with a notional turnover of 191,769.03 USD.

Structure & Moving Averages

Price action formed a bearish engulfing pattern around 171.0–171.3 and a hanging man near 170.4, suggesting distribution. The 20-period and 50-period moving averages on the 5-minute chart were both bearishly aligned, reinforcing downward momentum. On the daily chart, the 50-period MA appears to have acted as resistance, with the 200-period MA offering potential medium-term support near 167.2.

Momentum & Volatility

Relative Strength Index (RSI) dipped into oversold territory, hitting a 24-hour low of 27, but failed to show a strong bullish reversal. MACD remained bearish, with the signal line crossing below the histogram. Bollinger Bands widened significantly in the last 12 hours, indicating growing volatility and a possible exhaustion of the current downward leg.

Volume & Turnover Analysis

Volume was unevenly distributed, with a sharp spike around 169.5–169.8 and again near the 12:45 ET close, which coincided with a drop to 166.0. However, turnover during those spikes did not confirm strong conviction, suggesting mixed sentiment.

Fibonacci Retracements

Fibonacci levels from the 171.0–168.0 swing show 38.2% at 169.4 and 61.8% at 168.3. Price is currently near the 168.0 level, suggesting a potential bounce or test of the 61.8% retracement if buyers step in. On the daily chart, the 61.8% level from the recent high near 173.0 sits at 169.3.

The price could test the 167.0–168.0 area in the near term, which may act as a magnet for short-covering or bargain hunters. However, a break below 166.0 could bring renewed bearish pressure. Investors should remain cautious due to the current volatility and lack of strong reversal signals.