Summary
• Price declined from $0.0441 to $0.0420, forming bearish engulfing patterns.
• RSI moved into oversold territory, suggesting potential near-term support.
• Volume surged during key declines, reinforcing bearish momentum.
• Bollinger Bands tightened pre-12:00 ET, followed by a sharp break lower.
• Fibonacci levels at 0.0417–0.0419 showed strong short-term resistance.
Bio Protocol/Tether (BIOUSDT) opened at $0.0440 and closed at $0.0420 by 12:00 ET on 2026-01-12, hitting a high of $0.0441 and a low of $0.0412. Total volume traded was ~35.5 million, with notional turnover reaching approximately $1.51 million over 24 hours.
Structure & Key Patterns
Price action from 19:00–22:00 ET showed several bearish engulfing patterns, indicating growing seller control. A doji appeared at 04:15 ET, hinting at indecision, but the strong volume-driven move to $0.0412 confirmed downward momentum. Key support levels formed around $0.0417–0.0419 and $0.0412, with the latter acting as a temporary floor in the final hours.
Trend and Momentum Indicators
On the 5-minute chart, the 20-period and 50-period moving averages both trended lower, aligning with the bearish move. The RSI dropped below 30 into oversold territory by 08:00–10:00 ET, suggesting a possible rebound from $0.0417–0.0420. MACD turned negative in the last 5 hours and showed bearish divergence, reinforcing the downside bias.
Volatility and Bollinger Bands
Bollinger Bands tightened significantly between 04:00 and 07:00 ET, signaling a potential breakout. The sharp decline after 07:00 ET confirmed a break to the downside, with price remaining within the lower band for most of the session. Volatility expanded as the price approached key Fibonacci retracement levels from the $0.0441 high.
Volume and Turnover
Volumes spiked during the early morning and late afternoon hours, particularly between 07:00–08:45 and 15:00–18:00 ET. Turnover mirrored volume surges, aligning with price declines. A divergence between price and turnover occurred near $0.0415–0.0417, suggesting potential exhaustion on the bear side, but the final 5-minute candle confirmed bearish sentiment.
Price may consolidate near $0.0415–0.0417 over the next 24 hours, with a possible test of $0.0412 if short-term bearish momentum continues. Traders should monitor RSI for signs of overextension and watch for a breakdown below $0.0412, which could trigger further downside.
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