Bonk/Tether Market Overview for 2025-11-10

Summary
• Price rose from $0.00001303 to $0.00001339, with a 2.7% gain over 24 hours.
• Volume surged to ~$65.26 billion, confirming bullish momentum.
• MACD turned positive, RSI approached overbought, hinting at potential pullback.

BONKUSDT opened at $0.00001303 on 2025-11-09 12:00 ET, reached a high of $0.00001345, touched a low of $0.00001282, and closed at $0.00001339 as of 2025-11-10 12:00 ET. Total volume over 24 hours was approximately 498.7 billion tokens, translating to a notional turnover of $65.26 billion.

Structure & Formations

Price action featured a strong bullish reversal off the 2025-11-09 19:00–23:00 ET low at $0.00001282, where multiple candles confirmed a break above key support. A series of engulfing patterns and higher lows confirmed buying pressure. Resistance emerged near $0.00001345, with a potential consolidation forming.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA (golden cross), aligning with the upward thrust. On the daily chart, the price remains above the 200-period MA, indicating a longer-term bullish bias. The 50/100-period MA crossover reinforced the 15-minute bullish momentum.

MACD & RSI

The MACD line turned positive mid-day, suggesting sustained momentum. RSI rose to 68, nearing overbought territory, which may signal a short-term pause before a continuation. The histogram showed increasing bullish divergence from the morning low.

Bollinger Bands

Price recently expanded outside the upper Bollinger Band, indicating heightened volatility. This occurred alongside a breakout of psychological resistance near $0.00001340. A contraction period is anticipated as the price finds equilibrium after the surge.

Volume & Turnover

Volume spiked sharply during the 2025-11-09 23:00–2025-11-10 01:00 ET window, coinciding with the breakout. Turnover increased in sync with price, with no notable divergence observed. High liquidity suggests institutional participation.

Fibonacci Retracements

A recent 15-minute swing from $0.00001282 to $0.00001345 aligns with the 61.8% Fibonacci level near $0.00001329 as a potential support. On the daily chart, the 38.2% level is at $0.00001313, which appears to be a key area for consolidation.

Backtest Hypothesis
The backtest described aims to evaluate a Bullish-Engulfing pattern on a stock or ETF, with a 3-day holding period and an open entry and close exit. While BONKUSDT shows similar bullish momentum and candle patterns, it is not a stock and does not align with the BLSH.N or HOLD.P benchmarks. For this pair, a comparable strategy could use the same entry/exit rules on the 15-minute chart, applying them to confirmed engulfing patterns with volume confirmation. This could be tested on historical BONKUSDT data, using the 20-period MA and RSI as filtering tools to refine entries.