Market Overview for Bancor/Tether (BNTUSDT) – October 6, 2025

• Price surged from $0.69 to $0.72, forming a bullish continuation pattern with strong volume near the 24-hour high.
• RSI entered overbought territory, while MACD showed expanding momentum, suggesting upward pressure.
• Volatility spiked after 16:00 ET as BNTUSDT broke through a 61.8% Fibonacci retracement level.
• Bollinger Bands expanded post-noon, indicating rising volatility and potential continuation.
• Notional turnover exceeded $2.8m, confirming strong buyer participation amid a late-day breakout.

Bancor/Tether (BNTUSDT) opened at $0.69 at 12:00 ET on October 5, 2025, and reached a 24-hour high of $0.7211 before closing at $0.7212 at 12:00 ET on October 6. The pair traded between $0.6892 and $0.7211, with a total volume of 70,962.7 BNT and a notional turnover of $50.8m.

The structure of the 24-hour candlestick chart shows a strong bullish continuation pattern. Price tested a prior bearish trendline at $0.70–$0.7025 in the early morning and broke above it decisively by late morning. A large bullish engulfing pattern formed at $0.709–$0.712 around 13:00–13:45 ET, confirming a reversal in momentum. A small doji formed at the 14:00 ET candle near $0.7125, suggesting indecision after the sharp rise.

Moving averages on the 15-minute chart saw price close above both 20 and 50-period lines, reinforcing the bullish bias. On the daily chart, the 50-period MA remains slightly bearish but has begun to flatten as price remains above the 200-period MA. The convergence of short-term and longer-term momentum suggests the current move could have legs if the 0.7226 level holds.

Relative Strength Index (RSI) moved into overbought territory (>70) after 15:00 ET, while the MACD histogram showed expanding positive divergence, suggesting continued bullish momentum. Bollinger Bands began to contract after 10:00 ET, leading to a sharp expansion in volatility once price broke above the upper band. Price currently sits just below the upper band, indicating continued overbought pressure. Fibonacci levels on the 15-minute swing show a 61.8% retracement at $0.7212, which coincided with the late-day high, suggesting a potential near-term ceiling.

The volume profile confirmed the bullish breakout, with the largest single candle at 14:45–15:00 ET printing 12,512.7 BNT, coinciding with a price high of $0.7205. Notional turnover peaked at $9.3m during that period, suggesting strong participation. A divergence between price and turnover was observed after 16:00 ET, as volume waned slightly despite price consolidating near the highs. This may suggest exhaustion, but the overall volume profile remains robust and supportive of the trend.

Looking ahead, BNTUSDT faces key resistance at $0.7226 (previous high), followed by $0.7259 as the next target. A close above $0.7226 would confirm a breakout and potentially extend the move toward $0.730. On the downside, support is likely to be found at $0.7155 (lower Bollinger Band) and $0.7125 (Fibonacci 61.8%). Traders should monitor for a reversal candlestick pattern near these levels. As always, volatility remains high, and a sudden retracement into overbought RSI territory could trigger profit-taking.

Backtest Hypothesis
A backtesting strategy that leverages the recent bullish momentum could be based on entries at the close of a bullish engulfing pattern, confirmed by a subsequent candle closing above the pattern’s high. Stops could be placed below the engulfing pattern’s low, with targets aligned to the 38.2% and 61.8% Fibonacci levels from the prior swing. Given the strong volume and RSI divergence observed during the breakout, this approach would aim to capitalize on continuation after a consolidation phase.