Market Overview for Bella Protocol/Tether (BELUSDT)

• BELUSDT opened at $0.246 and traded between $0.2417 and $0.2493, closing near intraday high of $0.2487 at 12:00 ET.
• Strong bullish momentum was observed during the overnight session with a 0.25% surge from 0.244 to 0.2482.
• Notable volume surges occurred during the 05:15–06:30 ET window, confirming breakout strength.
• Price retested prior resistance levels before confirming above key Fibonacci levels at 0.2477 and 0.2486.
• RSI and MACD indicate overbought conditions, signaling potential for near-term profit-taking or consolidation.

Bella Protocol/Tether (BELUSDT) opened at $0.246 on September 15 at 12:00 ET and surged to a high of $0.2493 before closing at $0.2487 on September 16 at 12:00 ET. The 24-hour trading range spanned $0.2417 to $0.2493, with a total traded volume of 2,058,423.3 and a notional turnover of approximately $514,000. The price action reflects a strong bullish bias, with multiple key resistance levels being decisively breached.

Structure & Formations

The BELUSDT pair exhibited a strong bullish bias over the 24-hour period, with a decisive break of prior resistance levels at 0.2477 and 0.2486. A key breakout candle was observed during the 05:15–06:30 ET window, forming a strong green candlestick with a long lower shadow, indicating strong buying pressure. A small bearish doji formed at the high of $0.2493, suggesting potential exhaustion near overbought levels. A bullish engulfing pattern was also seen during the 08:15–08:30 ET window as price surged from 0.2468 to 0.2482, confirming the continuation of the bullish trend.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both bullish, with price above both and the 20MA crossing above the 50MA during the early morning session. This “golden cross” pattern is a strong technical signal for continuation of the trend. On the daily chart, the 50-period MA is crossing above the 100-period MA, indicating a long-term bullish setup. The 200-period MA remains below current price levels, suggesting the trend is not yet entrenched on a longer timeframe.

MACD & RSI

The MACD line remained positive throughout the 24-hour period, with the histogram expanding during the breakout phase, confirming strong momentum. The signal line crossed the MACD line during the 05:15–06:30 ET window, reinforcing the bullish bias. The RSI reached overbought territory above 70 during the late morning session, indicating the price could experience a pullback or consolidation phase in the near term.

Bollinger Bands

Volatility expanded significantly during the breakout phase, with the upper Bollinger Band reaching as high as 0.2493. Price remained above the 20-period moving average within the upper band for most of the session, confirming bullish momentum. A contraction in volatility was observed before the breakout, suggesting a period of consolidation ended with a strong directional move.

Volume & Turnover

Volume surged during the 05:15–06:30 ET window, with a notable spike in turnover aligning with the breakout. This confirmed the validity of the price move and indicated strong institutional or large-cap participation. The volume profile also showed a significant increase during the 08:15–08:30 ET window, supporting the continuation of the bullish trend.

Fibonacci Retracements

On the 15-minute chart, price surged above the 61.8% Fibonacci retracement level at 0.2477 and pushed into overbought territory near the 78.6% level at 0.2486. A pullback to the 50% level at 0.2468 appears likely, but the overall structure suggests a continuation of the bullish trend. On the daily chart, the 38.2% Fibonacci retracement level at 0.2464 was breached, indicating strong long-term momentum.

Backtest Hypothesis

The backtesting strategy involves identifying a bullish breakout on the 15-minute chart using a combination of the 20-period and 50-period moving averages crossing, a breakout above the upper Bollinger Band, and confirmation from a bullish engulfing candlestick pattern. The strategy would trigger a long entry at the close of the breakout candle with a stop-loss placed below the low of the breakout candle and a take-profit target at the next Fibonacci level. This approach aligns with the observed technical conditions today, making it a viable strategy for traders to consider. The overbought RSI and doji at the high suggest caution, but the strong volume confirmation and moving average alignment support the entry.