Market Overview: Band/Tether (BANDUSDT) – 24-Hour Candlestick Breakdown

• BANDUSDT rose from 0.615 to 0.669 over 24 hours, with sharp buying in the 8:45–9:15 ET window.
• Price formed a bullish engulfing pattern at 0.647 and tested key resistance at 0.67 multiple times.
• Volume surged in the early morning and again post-10 AM ET, confirming bullish momentum.
• RSI peaked in overbought territory, while MACD remained positive, signaling ongoing upward pressure.
• Volatility expanded after 8:45 AM ET, with price closing near the upper Bollinger Band.

The Band/Tether (BANDUSDT) pair opened at 0.615 on 2025-09-30 12:00 ET and closed at 0.669 on 2025-10-01 12:00 ET. The 24-hour high reached 0.673, while the low was 0.613. Total trading volume summed to 724,908.2, and the notional turnover amounted to 470,836.4.

Structure and formations revealed a strong bullish trend, especially after the price moved above 0.647 following a bullish engulfing pattern. A critical resistance at 0.67 was tested multiple times, suggesting accumulation. A doji appeared at 0.673, hinting at potential consolidation or reversal. Key support levels were identified around 0.664–0.666 and 0.641–0.643, with increasing volume confirming these areas.

The 20-period and 50-period moving averages on the 15-minute chart were bullish, with price above both. On the daily timeframe, price was well above the 50, 100, and 200-day moving averages, affirming the strong upward bias. Bollinger Bands reflected a moderate expansion after 8:45 AM ET, with price closing near the upper band, indicating high volatility.

RSI crossed into overbought territory near 70 during the 9:00–9:45 ET window, but the move was supported by rising volume. MACD remained positive and above the signal line, reinforcing the bullish trend. A divergence in volume and price appeared in the early morning, but volume later confirmed the upward break.

The 38.2% and 61.8% Fibonacci retracement levels were key during the 8:30–9:15 ET rally, with the 0.666 level acting as a psychological barrier before the price surged to 0.673. This move was supported by a 50,000+ volume candle at 8:45 ET.

Volume and turnover data showed a strong correlation, with a massive volume spike of 111,782.7 at 8:45 ET confirming the breakout above 0.647. A secondary surge of 94,831.6 at 9:00 ET reinforced the bullish narrative. However, a small divergence appeared during the 5:00–5:15 AM ET period when volume dropped despite rising price.

Backtest Hypothesis

Given the identified bullish patterns and strong volume confirmation, a potential backtest strategy could involve a long entry at the open of the 8:45 ET candle (0.647), with a stop-loss placed below the nearest support at 0.641 and a target aligned with the 61.8% Fibonacci level of 0.666. A trailing stop could be triggered once price breached 0.666, allowing for further upside potential. This setup would aim to capture the continuation of the bullish trend confirmed by volume and RSI momentum, while managing risk through structured exits.