Market Overview for Bancor/Tether (BNTUSDT) on 2025-10-10

• Price rose from $0.6588 to $0.6926, then consolidated into a pullback toward $0.6689.
• Strong volume and volatility observed in early morning ET, followed by fading momentum in the afternoon.
• RSI signaled overbought conditions mid-day, later reversing into oversold territory by the close.
• Price appears to be testing key support levels near $0.6698–$0.6708.
• Bollinger Bands showed expansion in the morning and contraction in the evening.

24-Hour Summary

Bancor/Tether (BNTUSDT) opened at $0.6756 on 2025-10-09 12:00 ET and reached a high of $0.6926 before closing at $0.6613 on 2025-10-10 12:00 ET. The pair traded between $0.6588 and $0.6926 during the period. Total volume amounted to 383,621.8, while notional turnover was $252,963.10.

Structure & Formations

Price developed a bullish morning breakout, forming multiple engulfing patterns and a large bullish candle around 02:30–04:15 ET. A bearish reversal unfolded from 14:00–15:45 ET, marked by a long upper shadow and a bearish engulfing pattern. A key support zone formed between $0.6698 and $0.6708, with a doji at $0.6689–$0.6613 indicating indecision. The pair now appears to be consolidating within this support band.

Support & Resistance Levels

Key support levels include:- S1: $0.6698- S2: $0.6708- S3: $0.6613

Resistance levels are:- R1: $0.6829- R2: $0.6891- R3: $0.6926

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA around 05:30 ET, signaling a short-term bullish bias. However, the 50-period MA has since dipped below the 20-period MA by the close, suggesting weakening momentum. On a daily basis, the 50-day MA currently sits at $0.6781, with the 100-day at $0.6746 and the 200-day at $0.6725—indicating a long-term bearish trend.

MACD & RSI

The 15-minute MACD showed a bullish crossover around 05:30 ET, followed by a bearish crossover near 15:00 ET as selling pressure intensified. RSI peaked at 73 (overbought) around 11:15 ET before declining sharply to 27 (oversold) by 16:00 ET. This suggests an exhaustion of short-term momentum and potential reversal. The RSI remains near oversold territory, hinting at possible near-term support-based buying.

Bollinger Bands

Bollinger Bands expanded significantly between 02:30–08:00 ET, indicating rising volatility. After 09:00 ET, the bands contracted, with price staying within them until 14:00 ET. From 14:00–16:00 ET, price closed near the lower band, suggesting a potential rebound. A break above the upper band could trigger renewed bullish momentum, while a break below the lower band would confirm a deeper correction.

Volume & Turnover

The highest trading volume occurred between 03:30–05:45 ET (cumulative ~49,721.5), with a peak at 03:30 ET (47,795.2). During this period, price reached $0.6926 and formed a large bullish candle. Turnover also peaked at $252,963.10, with a notable price-volume divergence observed between 14:00–15:45 ET, where volume declined despite continued price weakness, indicating potential bearish exhaustion.

Fibonacci Retracements

On the 15-minute chart, a 61.8% retracement level sits near $0.6708, where price has recently found support. A 38.2% retracement at $0.6829 aligns with a previous resistance level and may serve as a key pivot. On the daily timeframe, a 50% retracement level at $0.6768 could offer short-term resistance if the trend resumes upward.

Backtest Hypothesis

The backtest strategy described involves entering a long position on a bullish engulfing pattern when RSI is in oversold territory (below 30) and volume surges by 50% from the previous 15-minute bar. A stop-loss is placed below the low of the engulfing candle, and a take-profit is set at the nearest Fibonacci 61.8% retracement level. This strategy aligns with the morning breakout and initial consolidation phase observed in the data. While not a guarantee, it provides a structured approach to capitalizing on the observed pattern.