Market Overview for Band/Tether (BANDUSDT) as of 2025-10-24 12:00 ET

• BANDUSDT traded in a 24-hour range of 0.535–0.557, closing near the midpoint at 0.541.
• Price experienced a key pullback from 0.557 to 0.535, with volume confirming bearish pressure.
• RSI shows oversold conditions, suggesting a potential short-term bounce could occur.
• Volatility increased during the morning ET, with Bollinger Bands expanding and price approaching the midline.
• No major reversal candlestick patterns formed, but volume spikes indicate order-block potential near 0.540–0.541.

Opening Summary and Price Action

Band/Tether (BANDUSDT) opened at 0.546 on 2025-10-23 at 12:00 ET and reached an intraday high of 0.557 before retreating to a low of 0.535. At 12:00 ET on 2025-10-24, the price closed at 0.541. Over the past 24 hours, total trading volume was 486,402.7 units, with a notional turnover of approximately $258,507 (calculated using mid-range prices). Price action suggests a bearish consolidation, with buyers stepping in near the 0.540–0.541 level.

Structure & Formations

Price action over the 24-hour period formed a key pullback from a morning high near 0.557 to a low of 0.535, creating a descending wedge pattern. This structure suggests a potential breakdown could be imminent. The 0.540–0.541 level appears to function as immediate support, with volume increasing as price approached this area. No clear reversal patterns have formed yet, but a bullish engulfing pattern could emerge if buyers take control above 0.545. Resistance levels to watch include 0.545, 0.547, and the 0.553–0.557 area.

Moving Averages and Momentum

On the 15-minute chart, the 20-period and 50-period moving averages are both bearishly aligned, with the 20SMA below the 50SMA, indicating a short-term downtrend. On the daily chart, the 50-period SMA is above the 100- and 200-period SMAs, suggesting longer-term buyers are still active. The MACD remains in negative territory but has flattened out, hinting at a potential near-term pause in the downtrend. RSI has dipped into the oversold region (<30) at the 24-hour close, suggesting a potential bounce is possible in the short term.

Volatile Contraction and Fibonacci Retracements

Bollinger Bands expanded significantly during the morning ET as price surged toward 0.557, but have since contracted as price retreated toward the lower end of the range. Price currently sits near the 38.2% Fibonacci retracement level of the recent 0.535–0.557 move, which may act as a psychological pivot for buyers. The 61.8% retracement is at 0.544, and a break above this level could signal a deeper correction has failed, potentially leading to a test of the 0.547–0.550 range.

Volume and Turnover Dynamics

Volume and notional turnover spiked during the early hours of the morning ET as price approached 0.557, then again during the afternoon ET as price corrected to the 0.540–0.541 level. This suggests order block accumulation at the key support level. However, price failed to close above the 0.545 level multiple times during the day, indicating resistance is still intact. A divergence between price and volume is not yet apparent, but a failure in volume on further downside moves could signal weak conviction from sellers.

Backtest Hypothesis

To assess the impact of resistance levels on BANDUSDT, a robust backtest can be designed around the breakout above the 20-day high as a key event definition. This aligns with the observed price behavior near 0.553–0.557, where buyers initially pushed price but failed to hold the level. For the backtest, events would be triggered when price closes above the prior 20-day high. Post-event performance can be tracked over a 5-day window with a stop-loss at the 20-day low and a take-profit at 1.5x the initial breakout range. This approach ensures a clear, rule-based signal and allows for the measurement of win rates, average returns, and drawdowns over the 2022-01-01 to 2025-10-24 period.