Market Overview for BELUSDT on 2025-09-18

• BELUSDT opened at $0.2476, reached $0.262, and closed near $0.2596 after a volatile 24-hour session.
• A strong bullish reversal was observed during the early hours, followed by consolidation in the later half of the day.
• Volume spiked multiple times, with the most notable at $0.2589 (00:00 ET), indicating potential accumulation.
• RSI showed overbought conditions at the peak but later retreated into neutral territory, suggesting reduced short-term momentum.
• Bollinger Bands expanded during the rally and have since narrowed, pointing to lower volatility ahead.

Bella Protocol/Tether (BELUSDT) opened at $0.2476 on 2025-09-17 12:00 ET, peaked at $0.262, and closed the 24-hour period at $0.2596. Total trading volume for the period was 1,167,932.9, and the notional turnover reached $298,621.5. The price exhibited a strong recovery overnight, with significant intraday swings and multiple key support/resistance interactions.

Structure & Formations

The price action on the 15-minute chart revealed several key patterns. A bullish engulfing pattern formed at $0.2589 (00:00 ET) following a brief pullback, signaling a possible short-term reversal. Later, at $0.2575 (06:30 ET), a bearish harami pattern emerged, hinting at a potential consolidation phase. Notably, the price found key support at $0.2563 twice and rebounded both times, suggesting strong short-term support. Resistance levels were seen at $0.2601, $0.2613, and $0.262, with the last acting as a ceiling for much of the session.

Moving Averages

On the 15-minute timeframe, the 20-period and 50-period moving averages were closely aligned during the early hours, reflecting a narrowing of momentum. The 50-period MA rose above the 20-period MA after 02:00 ET, forming a bullish crossover. On the daily chart, the 50-period MA sits below the 200-period MA, indicating that longer-term trend remains bearish, despite the recent intraday strength.

MACD & RSI

The MACD histogram showed a sharp positive divergence during the overnight rally, aligning with the bullish engulfing pattern at $0.2589. However, the histogram flattened after 06:00 ET as momentum waned. RSI reached overbought levels above 70 at $0.2613 before retreating, confirming the peak in momentum. The current RSI reading of around 55 suggests a return to equilibrium, with no immediate signs of exhaustion on either side.

Bollinger Bands

Bollinger Bands displayed a marked expansion during the early morning session, as the price surged from $0.2563 to $0.2613—well above the upper band. This expansion is typically associated with increased volatility and a potential move toward consolidation. By midday, the bands had contracted, with the price staying within the channel, signaling a period of lower volatility and potential accumulation ahead.

Volume & Turnover

Volume spiked significantly during two key timeframes: 00:00 ET at $0.2589 and 18:30 ET at $0.2510. These spikes coincided with price consolidations or reversals, suggesting accumulation or profit-taking activity. The notional turnover increased in line with volume during these spikes, indicating genuine participation rather than wash trading. Divergences were not observed, implying that the price and volume actions are aligned and likely driven by genuine market sentiment.

Fibonacci Retracements

Applying Fibonacci retracement levels to the 0.2563 to 0.2613 swing, the 38.2% and 61.8% retracement levels were identified at $0.2593 and $0.2587, respectively. The price tested both levels during the afternoon pullback, with the 61.8% level holding as a key support. On the daily timeframe, the 0.2563 low aligns with the 50% retracement of the recent downleg, suggesting a potential pivot point for the pair.

Backtest Hypothesis

A potential backtesting strategy could be to identify and trade bullish engulfing patterns followed by a bullish MACD crossover on the 15-minute chart, with the price remaining above the 50-period MA for confirmation. Entries could be placed at the close of the bullish engulfing candle, with stop-loss orders placed below the low of the pattern. Targets could be set at the nearest Fibonacci retracement levels and key resistances. This setup would aim to capture the momentum seen during the overnight rally while limiting risk during consolidation or pullbacks.