Market Overview for Bancor (BNTUSDT)

• BNTUSDT posted a bearish close on the 24-hour 15-minute chart, with a final price of 0.7650 after opening at 0.7741.
• Price action showed a key 15-minute bearish engulfing pattern at 0.7815–0.7795, signaling short-term bearish momentum.
• Volatility increased sharply in the early hours of July 19, with a notable drop from 0.7877 to 0.7624.
• RSI entered oversold territory near the 30 threshold, hinting at a potential short-term rebound.
• Bollinger Bands tightened during the late hours of July 18, followed by a sharp breakout to the downside.

Market Overview

Bancor (BNTUSDT) opened at 0.7741 on July 18 at 12:00 ET and traded between 0.76 and 0.7923, closing at 0.7650 on July 19 at 12:00 ET. Total volume amounted to 277,049.0 and turnover was 68,871.7 USDT over the 24-hour period.

The price action over the past 24 hours showed a strong bearish trend, particularly after 02:00 ET on July 19 when the price dropped below 0.77 and continued to fall. A sharp sell-off occurred after the 15-minute candle at 01:15 ET, where the price fell from 0.7624 to 0.7594 in a high-volume session.

Structure & Formations

The 15-minute OHLCV data reveals a key bearish engulfing pattern at 0.7815–0.7795, which marked a shift in sentiment. A large bearish candle at 20:30 ET on July 18 confirmed the breakdown of a short-term support level. The price has since consolidated below 0.77, with 0.7650 acting as a recent floor. A potential support level appears at 0.7610–0.7620, while 0.7730 and 0.7770 may serve as key resistance levels in the near term.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages have both moved below the price, confirming the bearish bias. The 50-period MA crossed below the 20-period MA earlier in the session, forming a death cross. On the daily chart, the 50-period MA is approaching the 100-period MA, suggesting a potential short-term consolidation phase.

MACD & RSI

The MACD line turned negative after 01:15 ET on July 19 and has remained bearish, with the histogram contracting as the price approached oversold territory. The RSI reached 30 at the close of the session, indicating a potential short-term bounce. However, as long as the price remains below 0.7730, the RSI is unlikely to break above the 50 threshold in the near term.

Bollinger Bands

Bollinger Bands showed a contraction in volatility around 21:00 ET on July 18, followed by a sharp expansion as the price broke down. The price has since remained below the lower band, suggesting continued bearish momentum. A retest of the upper band is unlikely unless the price reclaims 0.7730.

Volume & Turnover

Volume spiked sharply during the early hours of July 19, particularly in the 15-minute candle at 01:15 ET, when 31,634.6 volume and 68,871.7 USDT turnover were recorded. This high-volume sell-off confirmed the breakdown of a key support level. Turnover and volume have since declined, suggesting a potential exhaustion of bearish momentum.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from 0.7877 to 0.7624, the price has found support near the 61.8% retracement level at 0.7725. A retest of the 50% level at 0.7750 may occur, but a breakdown below 0.7650 could push the price toward the 38.2% level at 0.7690.

The forward-looking view for BNTUSDT suggests that the price could consolidate near 0.7650 in the next 24 hours, with a potential short-term rebound into the 0.7720–0.7740 range. However, traders should remain cautious of further downside if volume increases and the price breaks below 0.7610.