Bonk/Tether Market Overview – 2025-11-13

Summary
• BONKUSDT opened at $0.0000122 and closed at $0.00001196 with a range of $0.00001201 to $0.00001246.
• Volume surged above $48 billion, with heavy concentration in afternoon hours.
• Momentum softened in final hours, signaling possible consolidation or reversal.

Bonk/Tether (BONKUSDT) traded between $0.00001201 and $0.00001246 over the 24-hour period ending at 12:00 ET on 2025-11-13, opening at $0.0000122 and closing at $0.00001196. Total volume reached 4.898e+11 tokens, with a notional turnover of $6.06 billion, indicating strong participation.

The 15-minute chart reveals a complex narrative. A bearish engulfing pattern formed around 19:30 ET, signaling a shift from bullish to bearish momentum. Price tested a key resistance at $0.00001225, failing to break through, and found support at $0.00001213. A doji near this support level suggests indecision. Over the last four hours, price drifted lower, forming a descending channel with a possible target near $0.00001195.

Bollinger Bands show moderate volatility, with prices fluctuating within a narrow band in the morning before expanding in the afternoon. The 20-period moving average crossed below the 50-period line, forming a death cross, while the 50-period line currently sits above the 100 and 200-period lines on the daily chart, reinforcing a bearish bias. MACD turned negative in the afternoon, confirming the bearish divergence. RSI dipped below 30 in the final hours, hinting at oversold conditions, but divergence between price lows and RSI lows suggests caution.

Fibonacci retracement levels from the $0.00001201 to $0.00001246 swing indicate 38.2% at $0.00001232 and 61.8% at $0.00001214, both of which were tested. Price bounced off the 61.8% level but failed to sustain above, suggesting this level may serve as a critical area to watch in the next 24 hours.

The Backtest Hypothesis section is designed to explore the viability of a 1-day RSI-based strategy using the close price and holding maximum one day. The strategy leverages the bearish divergence observed in RSI and MACD, suggesting an exit signal was implied by the 1-day rule. As volatility remains moderate, the strategy may perform well in testing if prices remain in a range-bound pattern. Further, the large volume and notional turnover provide sufficient liquidity for entry and exit points, enhancing execution reliability.