Market Overview: Bella Protocol/Tether USDt (BELUSDT) – 2025-09-06

• Price action remains in a 0.2350–0.2395 range with bearish pressure emerging after an initial bullish push
• RSI and MACD show mixed momentum signs, with overbought levels at 0.2395 and possible bearish divergence
• Volume increased during bullish attempts but waned in the last 6 hours, hinting at reduced conviction
• Bollinger Bands tightened near 0.2365–0.2370, suggesting potential breakout risk
• 15-min structure shows indecision near 0.2360–0.2380, with no clear trend dominance

Bella Protocol/Tether USDt (BELUSDT) opened at 0.2359 on 2025-09-05 at 12:00 ET and closed at 0.2368 on 2025-09-06 at 12:00 ET, with a high of 0.2395 and low of 0.2351. The 24-hour total volume was 902,885.9 units, while turnover reached $208,505.40. Price action was range-bound but showed a late-day bullish attempt.

Structure & Formations

The 15-minute chart indicates a bearish consolidation near key support at 0.2360–0.2365, with price failing to break above 0.2390 after a strong push in the early evening. A bullish engulfing pattern was visible at 0.2385–0.2395, but it was followed by a large bearish candle with a long upper wick from 0.2394 to 0.2382, suggesting rejection of higher prices. A doji formed at 0.2365 in the early morning, indicating indecision. Key resistance levels are identified at 0.2395 and 0.2380, while key support levels lie at 0.2365 and 0.2350.

Moving Averages

The 20- and 50-period moving averages on the 15-minute chart are closely aligned around 0.2367–0.2369, indicating a neutral bias. The 50-period moving average is slightly above the 20-period, suggesting short-term bearish momentum. On the daily chart, the 50-, 100-, and 200-period MAs are within a tight range of 0.2360–0.2365, with no clear trend bias.

MACD & RSI

The MACD line crossed above zero late on 2025-09-05, signaling short-term bullish momentum, but quickly declined as bears took control. RSI peaked at 67 during the 0.2395 high, showing a strong bullish move but not reaching overbought territory. However, as prices fell into the next day, RSI dipped below 50, indicating bearish control. No clear divergence between price and RSI was found during the last 15 minutes of the session, but bearish momentum appears to be gathering.

Bollinger Bands

Bollinger Bands constricted tightly around 0.2362–0.2368 in the early hours, with prices bouncing off the upper and lower bands several times. This suggests increased volatility risk. Prices currently rest just below the upper band, having previously tested the upper range at 0.2395 with a failed breakout. The midline at 0.2365 serves as a key level to watch for any breakouts or breakdowns.

Volume & Turnover

Volume surged during the 0.2395 high, with a 15-minute candle showing 121,419.8 units traded and $29,122.95 in turnover. However, volume dropped significantly in the last 4 hours, even as prices attempted to recover. This divergence suggests weakening bullish conviction. Conversely, the largest bearish candle (0.2394 to 0.2382) was accompanied by moderate volume, indicating no strong bearish conviction either. Turnover remained relatively flat during the consolidation phase.

Fibonacci Retracements

Applying Fibonacci retracement levels to the 15-minute swing from 0.2350 to 0.2395, key levels include 0.2376 (38.2%), 0.2366 (50%), and 0.2356 (61.8%). The price has spent the last 6 hours consolidating near 0.2365, which aligns with the 50% retracement level. A break above 0.2376 could signal a resumption of bullish momentum, while a breakdown to 0.2356 may indicate renewed bearish pressure.

Backtest Hypothesis

Given the mixed momentum signals and tight consolidation, a potential backtesting strategy involves entering a long position at the 50% Fibonacci level (0.2366) with a stop below the 61.8% level (0.2356). A target is set at 0.2376 for an initial exit, with a possibility of extending the trade if the 0.2380 resistance level is cleared. The 15-minute MACD and RSI divergence can act as a confirmation filter, with a bullish MACD crossover and RSI above 50 suggesting a higher probability setup. This approach assumes the price remains within the 0.2350–0.2395 range and that the 0.2365 level holds as a key support/resistance.