Market Overview for Band/Tether (BANDUSDT) – October 6, 2025

• BAND/USDT traded in a bearish bias, closing lower after an initial 5% spike at 00:15 ET.
• Volatility expanded midday, with a 15-minute high of $0.698, but failed to hold gains.
• RSI signaled overbought conditions briefly before price retracted, hinting at weak momentum.
• A key 15-minute engulfing candle at 15:30 ET confirmed bearish pressure.
• Volume surged during the morning spike, but turnover failed to confirm bullish conviction.

At 12:00 ET on October 6, 2025, Band/Tether (BANDUSDT) opened at $0.685, with a 24-hour high of $0.698 and a low of $0.660. The price closed at $0.680, marking a modest bearish trend. Total volume reached 622,662.2, with $427,236.5 in notional turnover. The pair showed a volatile start but failed to sustain bullish momentum.

Structure & Formations

The 15-minute chart revealed a bearish bias with multiple lower highs and tighter consolidation after the morning spike. A key bearish engulfing pattern formed at 15:30 ET, as the candle opened near $0.694 and closed at $0.696—well below the prior bullish candle—highlighting a shift in sentiment. A doji appeared at 03:00 ET, signaling indecision. Notable support levels emerged around $0.670–$0.675, while $0.694–$0.698 acted as resistance.

Moving Averages

On the 15-minute chart, the 20-period MA crossed below the 50-period MA in a bearish “death cross” pattern, confirming downward momentum. On a longer time frame, the 50-period MA crossed below the 200-period MA, reinforcing a potential continuation of the bearish trend. The 100-period MA on daily data confirmed a broader bearish bias.

MACD & RSI

The MACD crossed below the signal line at 03:00 ET, signaling bearish momentum. The histogram remained negative for most of the session, indicating sustained selling pressure. The RSI peaked above 70 in early morning trading, suggesting overbought conditions, followed by a sharp decline to mid-50s—suggesting a bearish reversal. RSI divergence at 19:30 ET showed weakening bullish conviction.

Bollinger Bands

Volatility expanded during the morning spike, with price reaching the upper Bollinger Band at $0.698. After the spike, price settled within the bands between $0.676–$0.684. The narrowing of the bands in the late evening suggested a potential consolidation phase ahead. Price action remained closer to the lower band, indicating a bearish bias within the channel.

Volume & Turnover

Volume surged during the 00:15 ET candle, with 15,944.7 contracts traded amid a 5% spike from $0.696 to $0.668. However, notional turnover failed to confirm bullish strength, indicating a possible short-term trap. Volume remained elevated during consolidation phases but dropped off significantly after the 15:30 ET bearish engulfing pattern, suggesting exhaustion in selling pressure.

Fibonacci Retracements

Fibonacci levels identified a key 61.8% retracement around $0.678–$0.680, where price found temporary support during midday consolidation. On the 15-minute chart, the 38.2% level at $0.685–$0.686 acted as resistance before the bearish engulfing candle. Daily retracement levels reinforced the $0.675–$0.678 support zone.

Backtest Hypothesis

A potential backtesting strategy could involve entering short positions on the 15-minute chart when the MACD crosses below the signal line and volume exceeds the 20-period moving average by 15% or more. A stop-loss could be placed above the 38.2% Fibonacci level, with a target at the 61.8% level. This approach would aim to capture bearish momentum during strong volume surges and divergence in the RSI, aligning with the observed bearish engulfing pattern and death cross.