Market Overview for Band/Tether (BANDUSDT)

Summary
• Price tested key support at $0.34 before consolidating near 0.343–0.344.
• High-volume bearish divergence emerged post-0.345, signaling potential reversal risk.
• Volatility expanded during overnight trading, with low RSI indicating oversold conditions.
• A bullish engulfing pattern formed near 0.343–0.344, hinting at short-term buyers.
• Bollinger Bands constricted ahead of a sharp pullback, pointing to possible price expansion.

At 12:00 ET on 2026-01-10, Band/Tether (BANDUSDT) opened at 0.344, reached a high of 0.349, fell to a low of 0.338, and closed at 0.343. Total volume over 24 hours was 474,633.3 units, with a notional turnover of $157,073.36.

Structure & Formations

Price found support at 0.34 and resistance at 0.345 during the session, with a notable bullish engulfing candle emerging after a test of 0.343. A doji formed near 0.344 around 04:45 ET, indicating indecision. On the daily chart, the 50-period moving average currently sits just above the 0.342 level, suggesting a potential floor if bears continue to dominate.

Momentum and Overbought/Oversold Conditions

The RSI dipped into oversold territory below 30 during the late ET hours, hinting at a possible bounce. The MACD crossed below the signal line during the pullback, confirming bearish momentum. However, the RSI divergence between lower price and higher lows may suggest a short-term countertrend move is possible.

Volatility and Bollinger Bands

Bollinger Bands saw a contraction in the late ET hours before the sharp selloff, indicating a potential breakout or breakdown. Price closed near the lower band at 0.343, suggesting bearish bias. The 20-period Bollinger Band width expanded to its widest point of the day during the selloff from 0.345 to 0.34.

Volume and Turnover

Volume spiked to 88,648.9 during a bearish move from 0.345 to 0.344 at 18:15 ET, forming a bearish divergence with price. Turnover exceeded $10,000 during this period, the highest of the session. A later spike near 0.342 at 03:15 ET was accompanied by high volume but failed to push price higher, reinforcing bearish sentiment.

Fibonacci Retracements

On the 5-minute chart, price found temporary support at the 61.8% retracement level of the 0.345–0.341 move. Daily Fibonacci levels suggest 0.34 and 0.345 as key support and resistance. A break below 0.34 could see price testing 0.337 in the next 24 hours.

Looking ahead, price may consolidate in a tight range or see a test of the 0.34 level if bears continue to dominate. A break above 0.345 could reverse momentum and attract buyers, but bearish pressure appears to have the upper hand for now. Investors should monitor the 0.343–0.344 range closely for potential reversal signals.