Market Overview for Band/Tether (BANDUSDT) on 2025-09-18

• BANDUSDT posted a 24-hour high of 0.755 at 16:00 ET, rising from an open of 0.698 at 12:00 ET the prior day.
• Price formed a bullish engulfing pattern from 0.742 to 0.746 at 08:30–08:45 ET, signaling short-term optimism.
• Volatility expanded during the day as Bollinger Bands widened, with a peak in volume at 14:30 ET.
• RSI reached 55 at 16:00 ET, indicating moderate strength but not overbought territory.
• Turnover surged to $37,736 at 14:30 ET, with the total 24-hour volume reaching 636,836 and turnover of $456,240.

BANDUSDT opened at 0.698 on 2025-09-17 at 12:00 ET, climbed to a high of 0.755 by 16:00 ET, and closed at 0.754. The 24-hour volume amounted to 636,836, with a notional turnover of $456,240. Price action showed a strong rally from 18:00 to 20:00 ET, where the pair broke through a descending wedge on the 15-minute chart.

Structure & Formations

The price of BANDUSDT formed a clear bullish channel on the 15-minute timeframe during the early part of the session, with key support levels at 0.701 and 0.705. These levels were tested and held before the price pushed higher. A notable bullish engulfing pattern appeared around 08:30–08:45 ET, confirming a short-term reversal from a prior bearish trend. A doji formed around 04:15 ET at 0.745, suggesting indecision before the upward move resumed.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart moved higher in tandem with the price, staying below the current close of 0.754. This suggests a continuation of the upward trend. On the daily chart, the 50-period MA at 0.717 and the 200-period MA at 0.701 remain below the price, indicating a longer-term bullish bias.

MACD & RSI

The MACD line crossed above the signal line around 08:30 ET, confirming a bullish momentum shift. RSI reached 55 at 16:00 ET, suggesting moderate strength and a potential continuation of the upward move. While not in overbought territory (above 70), the RSI showed a steady climb throughout the day, indicating growing buying pressure.

Bollinger Bands

Volatility increased throughout the day, with Bollinger Bands widening to a maximum of 0.021 at 14:30 ET. The price remained above the mid-band for much of the session, especially after 18:00 ET. A contraction in the bands occurred around 02:00–04:00 ET, suggesting a potential breakout was imminent—this was confirmed later in the session.

Volume & Turnover

Volume spiked to 93,695 at 14:30 ET, with corresponding turnover of $68,808—nearly 15% of the total 24-hour turnover. This volume spike aligned with a price high of 0.755 and a breakout above a key resistance level. No significant price-volume divergence was observed, and the overall trend was confirmed by the volume profile.

Fibonacci Retracements

Applying Fibonacci to the recent swing low of 0.703 and high of 0.755 on the 15-minute chart, the 38.2% retracement level at 0.731 and the 61.8% level at 0.729 were tested twice during the session. The price found support at 0.731 before resuming its upward trajectory, indicating strong buying pressure at these levels.

Backtest Hypothesis

The backtest strategy aims to capture breakout moves from key Fibonacci levels and Bollinger Band contractions using a combination of volume filters and RSI confirmation. Based on today's action, a breakout above the 61.8% retracement level at 0.729 with a concurrent RSI above 50 and increasing volume would have triggered a long entry. A stop-loss could have been placed just below 0.722, with a target at 0.755, as seen in the actual price movement. The strategy appears to align well with today's price behavior, offering a data-driven approach to capturing medium-term bullish moves.