Market Overview for Band/Tether (BANDUSDT): 24-Hour Technical Analysis

• Band/Tether (BANDUSDT) traded in a 24-hour range of 0.647–0.68, closing near the upper end at 0.671.

• Price showed a recovery from an early morning dip, forming bullish patterns near 0.656 and 0.671 levels.

• Volume and turnover surged during late-night to early morning, confirming key support and resistance levels.

• RSI and MACD showed divergences during the downturn, suggesting possible oversold conditions and potential rebounds.

• Volatility increased around 0.670–0.675 range, with Bollinger Bands expanding as price approached upper levels.

Band/Tether (BANDUSDT) opened at 0.659 on 2025-09-23 12:00 ET and closed at 0.671 on 2025-09-24 12:00 ET. The 24-hour range was 0.647–0.68. Total volume was 593,170.2, and notional turnover reached $396,644.50, reflecting moderate to high interest.

Over the 24-hour period, BANDUSDT formed a bullish recovery pattern after a late-night test of support at 0.656. The price rebounded off this key level, moving into an established resistance zone between 0.670 and 0.675. A bullish engulfing pattern emerged around 0.671, suggesting continued upward momentum. A doji at 0.659 also indicated indecision but was followed by strong volume-based recovery.

Structure & Formations

Key support levels at 0.656 and 0.662 were tested and confirmed with strong volume surges. The price action at 0.656 marked a potential pivot point, with a strong rebound observed. Resistance levels at 0.670 and 0.675 were approached multiple times, with the 0.671 level acting as a short-term cap. A bullish engulfing pattern at 0.671 reinforced a continuation of the upward trend, though traders should monitor for a breakdown of the 0.656 level, which could signal a deeper correction.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both trending upward and are currently crossed above key support levels, suggesting bullish momentum. The price remains above both, indicating a healthy short-term trend. On the daily chart, the 50-period and 200-period moving averages are closer together, indicating a potential consolidation phase. A close above the 50-period MA (0.668) could reinforce the bullish outlook.

MACD & RSI

The MACD line remained above the signal line, indicating sustained positive momentum. A recent bullish crossover at 0.670 confirmed the upward shift. RSI, however, showed a slight divergence—oversold conditions were observed around 0.656, but RSI did not reach its lowest point at that time. This could suggest a weaker recovery. RSI is currently in neutral territory (around 55), indicating the market is not overbought but could continue to rise in the near term.

Bollinger Bands

Bollinger Bands expanded as the price approached the 0.671–0.675 range, indicating increased volatility. The upper band is at approximately 0.678, and the price has hovered just below it, suggesting it could be a short-term ceiling. The middle band, which is currently at 0.670, aligns with the 20-period moving average. A close above the upper band could signal a breakout scenario.

Volume & Turnover

Volume spiked significantly at key support and resistance levels, particularly around 0.656 and 0.671, confirming the importance of these levels. Notional turnover increased in sync with volume, especially during the 02:00–06:00 ET window. No significant divergence between price and turnover was observed, supporting the integrity of the bullish trend. The largest single-volume candle was at 0.656 (volume: 82,930.8), indicating a strong buy signal at that level.

Fibonacci Retracements

Fibonacci levels applied to the recent swing from 0.647 to 0.675 showed that the 0.656 level aligned with the 38.2% retracement, and 0.662 coincided with the 50% level. The price bounced off both of these levels, suggesting they are critical in the short term. On the daily chart, the 61.8% level at 0.670 is now a key target. A test of the 0.675–0.678 upper range could see a pullback to the 61.8% Fibonacci level for a potential retracement.

Backtest Hypothesis

Given the observed support at 0.656 and the bullish engulfing pattern at 0.671, a potential backtesting strategy could involve a long entry on a close above 0.656, with a stop-loss below 0.654 and a take-profit target at the 61.8% Fibonacci level of 0.670. This approach aligns with the momentum seen in RSI and MACD and the volume confirmation at key levels. A short-term trailing stop could be used to lock in gains as the price moves toward 0.675.