Market Overview for BNB/Argentine Peso (BNBARS) on 2025-10-08

• Price surged 20% intraday, breaking 2,000,000 ARS, with strong volume confirmation in late ET hours.
• Momentum remains bullish, with RSI near overbought and MACD expanding above zero.
• Volatility expanded throughout the session, with Bollinger Bands widening sharply.
• Divergence in turnover was noted near 1,960,000 ARS but was followed by a strong reversal.
• A bullish engulfing pattern formed at 2,013,512 ARS, suggesting potential for further upside.

The BNB/Argentine Peso (BNBARS) opened at 1,938,846 ARS at 12:00 ET − 1 and surged to a high of 2,037,853 ARS during the session before closing at 2,010,120 ARS by 12:00 ET. Total 24-hour volume was 26.73 BNB, with a notional turnover of approximately 54,000,000,000 ARS. The pair exhibited strong intraday momentum, particularly in the late evening ET timeframe, as the price broke above key resistance levels.

On the 15-minute chart, BNBARS formed a bullish engulfing pattern at 2,013,512 ARS, signaling a potential continuation of the upward trend. A key support zone formed between 1,950,000 and 1,970,000 ARS, which was tested multiple times but failed to hold. A strong resistance appears to have developed near 2,037,853 ARS, where price pulled back sharply. The 20-period moving average (SMA) moved higher during the session, crossing above the 50-period SMA to confirm a potential short-term bullish bias.

The 12/26 MACD histogram expanded above zero during the late ET hours, confirming strong positive momentum. RSI reached 68 at the end of the session, indicating overbought conditions. However, divergence between price and RSI was observed near 1,960,000 ARS but was followed by a strong rebound. Bollinger Bands widened significantly as volatility increased, with the price moving closer to the upper band during the peak of the rally.

The 200-period SMA on the daily chart was crossed above during the session, suggesting that the pair may be entering a medium-term bullish phase. Fibonacci retracement levels showed that the 61.8% level at 2,008,000 ARS acted as a temporary resistance before the final push higher. Notable volume spikes were observed during the 00:45–01:00 ET and 08:45–09:00 ET intervals, coinciding with sharp price moves. However, volume declined during the final 15-minute window, suggesting caution may be building in the market ahead of the next 24-hour session.

The forward outlook remains cautiously bullish for BNBARS over the next 24 hours, with potential for a test of 2,035,000 ARS as a key near-term target. A break above 2,037,853 ARS could signal further gains toward 2,050,000 ARS. Traders should watch for a potential pullback to the 2,000,000 ARS–1,990,000 ARS range for short-term consolidation. As always, volatility remains high, and a sudden reversal is possible if the 1,990,000 ARS level is breached.

Backtest Hypothesis
A backtesting strategy based on the 20-period moving average and RSI divergence could be viable for BNBARS. The 20 SMA crossing above the 50 SMA confirmed a bullish bias during the session, and the RSI divergence provided early warning signs of potential corrections. A potential strategy would involve entering long positions when the 20 SMA crosses above the 50 SMA and RSI is above 50, with a stop-loss placed at the nearest Fibonacci support level. This approach would have captured most of the upward momentum observed on 2025-10-08 while minimizing exposure during minor pullbacks. Further backtesting is needed to confirm this framework under varying volatility conditions and over extended timeframes.