Summary
•
consolidated between 0.1415–0.1471, with bearish 5-minute closes below key resistance.
• Volume surged during the 07:45–08:15 ET rally, confirming strength but not sustainability.
• RSI showed overbought conditions during the peak before a 2% pullback into neutral territory.
• Bollinger Bands constricted midday, signaling potential for a breakout or false move.
• A bullish engulfing pattern formed at 0.1415–0.1425 but failed to hold, suggesting ongoing bearish bias.
Bella Protocol/Tether (BELUSDT) opened at 0.1432 on 2026-01-06 12:00 ET and closed at 0.1417 as of 2026-01-07 12:00 ET, hitting a high of 0.1474 and a low of 0.1413. Total 24-hour volume was 3,267,700.0 and turnover reached $464,172.7.
Structure & Key Levels
Price action formed a broad descending channel, with a failed bullish engulfing pattern at 0.1415–0.1425 failing to hold above 0.1435. A bearish breakdown below 0.1432 confirmed short-term bearish momentum, with 0.1415 becoming a new key support level.
Moving Averages and Momentum
The 5-minute 20/50 EMA crossed bearish during the late-night pullback, reinforcing the downtrend.
The 50-period EMA on the daily chart remains above the 200 EMA, suggesting intermediate-term balance. RSI reached overbought levels during the 0.1468 peak but quickly corrected into midrange, suggesting limited conviction behind the rally.
Volatility and Volume
Volatility expanded during the 07:45–08:15 ET rally with a surge in notional turnover, confirming strength in the upward move. However, volume declined afterward, suggesting buyers were exhausted. Bollinger Bands constricted midday before expanding again, hinting at a possible breakout or false move.
Volume and Turnover Divergences
Price and volume diverged during the 14:15–15:30 ET sell-off, with turnover declining despite a sharp price drop. This suggests weak follow-through and possible accumulation at lower levels, though confirmation is pending.
Fibonacci Retracements
A 38.2% retracement of the 0.1413–0.1474 move sits at 0.1444, currently acting as a psychological resistance. A 61.8% retracement is at 0.1432, which may retest in the coming 24 hours.
Price may test 0.1415 again in the near term if the 0.1425–0.1435 range fails to hold. A break below 0.1413 would open the door to 0.1405, while a rebound above 0.1435 could signal a short-term reversal. Investors should remain cautious about the potential for a false breakout or consolidation into a new base.
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