Market Overview for Bella Protocol/Tether (BELUSDT) – 2025-10-10 24-Hour Analysis

• BELUSDT traded in a volatile range with a sharp late rally to 0.2351, followed by a pullback to 0.2248.
• Key resistance held at 0.235–0.2355, while support levels at 0.228–0.230 showed mixed strength.
• Volume surged to 365,000+ at peak during the rally but dropped significantly in the final hours.
• RSI suggested overbought conditions during the rally, followed by a quick reversion to neutral.
• Price formed a bearish engulfing pattern near 0.2351, signaling possible bearish momentum ahead.

Bella Protocol/Tether (BELUSDT) opened at 0.2271 on October 9 at 16:00 ET and reached a high of 0.2356 before closing at 0.2227 at 12:00 ET on October 10. Total volume was 2,179,148.3 and turnover amounted to approximately $491,675.00 over the 24-hour period.

Structure & Formations

BELUSDT exhibited multiple key formations throughout the day. A strong bullish impulse developed in the early morning session, with the price surging above 0.234 and reaching a high of 0.2356. However, this momentum was quickly reversed in the afternoon, leading to a bearish engulfing pattern as the price closed below key support at 0.230. A morning session doji at 0.2351 also signaled indecision and potential bearish bias. Notable support levels emerged at 0.228 and 0.220, with the latter being tested in the final hours.

Moving Averages

On the 15-minute chart, price crossed above the 20SMA and 50SMA during the early morning rally, confirming short-term bullish momentum. However, by the afternoon, price fell below both indicators, confirming bearish strength. On the daily chart, the 50DMA sits at 0.2285 and the 200DMA at 0.223, suggesting the 0.228 level may be key for further directional clarity.

MACD & RSI

The MACD turned bearish in the afternoon, with the histogram shifting negative after a brief positive divergence in the morning. RSI reached an overbought level of 68 during the rally but quickly fell to 45, signaling neutral to slightly bearish momentum. Divergence between the MACD and price action during the afternoon sell-off reinforced bearish bias.

Bollinger Bands

Volatility expanded during the morning rally, with the upper band reaching 0.2356, and then collapsed during the sell-off. Price closed near the lower band at 0.2227, suggesting potential for a bounce or further downside depending on volume and order flow. A contraction in the Bollinger Band width in the early morning hinted at a possible breakout, which partially materialized but failed to sustain.

Volume & Turnover

Volume and turnover surged to their highest levels in the early morning, with a single candle at 01:30 ET showing 391,936.8 in volume and over $90,000 in turnover. This confirmed the strength of the rally but also hinted at potential exhaustion. In the afternoon, volume declined sharply, even as the price moved lower, indicating weak follow-through demand and potential for further bearish pressure.

Fibonacci Retracements

Applying Fibonacci to the key swing from 0.2222 to 0.2356, the 0.2325 and 0.2283 levels correspond to the 61.8% and 38.2% retracement levels, respectively. These levels were both tested but failed to hold, suggesting deeper retracements could be in play. On the daily chart, the 61.8% retracement from the recent high sits near 0.223, which is also a key support level.

Backtest Hypothesis

A potential backtest strategy could involve entering long positions upon a breakout above the 0.235 level with confirmation from the 20SMA, coupled with a RSI above 55 and MACD crossover. Stop-loss could be placed below the 0.232–0.230 zone, with take-profit targets aligned with the 0.238–0.240 Fibonacci extension. Conversely, short positions could be considered on a breakdown below 0.228, with stop above 0.230 and exits near key support at 0.220. Given the volatility observed, this strategy would require tight risk management and rapid execution.