Market Overview for BNB/Argentine Peso (BNBARS) – 2025-11-02

• BNB/Argentine Peso (BNBARS) opened at 1,637,948.0 and closed at 1,604,096.0, with a 24-hour range of 1,604,096.0–1,645,086.0
• Price formed a bearish engulfing pattern late in the session as volume picked up sharply during the selloff
• RSI dipped into oversold territory near the 24-hour low, indicating potential exhaustion of downward momentum
• Volatility expanded as price tested lower timeframes, but volume did not confirm strong bearish conviction
• A key support level appears to be forming near 1,600,000.0, with potential for a bounce if bullish volume reemerges

BNB/Argentine Peso (BNBARS) opened at 1,637,948.0 and closed at 1,604,096.0, with a 24-hour high of 1,645,086.0 and a low of 1,604,096.0. Total volume across the 24-hour window stood at 14.697 BNB, while notional turnover reached $23,775,988.63. The pair saw a late-day decline, forming a bearish engulfing pattern as sellers overtook buyers. The session closed near the 24-hour low, with price showing signs of exhaustion at the end of the candle.

Structure & Formations

Price action over the last 24 hours showed a clear bearish trend, with the session's largest move occurring between 00:00 and 05:00 ET, when price dropped from a high of 1,645,086.0 to a low of 1,627,777.0. A bearish engulfing pattern formed near the close as price gapped down into a new 5-hour low of 1,604,096.0. A doji near 1,630,000.0 also appeared, signaling indecision. Key support levels to watch include 1,600,000.0 and 1,580,000.0, with potential bearish continuation expected if these levels fail to hold. Resistance remains near 1,630,000.0 and 1,640,000.0.

Moving Averages

On the 15-minute chart, the 20-period MA crossed below the 50-period MA in the final hours, forming a bearish death cross. The daily chart shows the 50-period MA at 1,620,000.0, while the 200-period MA sits at 1,630,000.0. Price closed below both, suggesting a bearish bias in the near term. The 100-period MA at 1,635,000.0 may act as an intermediate resistance level.

MACD & RSI

The MACD crossed below the signal line late in the session, confirming bearish momentum. RSI dropped to 28 near the close, entering oversold territory. This may indicate that a rebound could be near, especially if bullish volume emerges. However, the bearish divergence between price and RSI in the early part of the session suggests that the move lower may not be over yet. If RSI fails to rise above 50 in the next session, further downside could be in play.

Bollinger Bands

Price remained in the lower half of the Bollinger Bands for most of the session, indicating a bearish trend with low volatility. The bands expanded significantly during the late-night sell-off, confirming the strength of the move. Currently, price sits near the lower band, which is at 1,600,000.0. A bounce from this level could lead to a retest of the 1,620,000.0 level. However, if price continues to trend down, a break below the lower band may signal a deeper correction.

Volume & Turnover

Volume increased significantly in the final 3 hours of the session, confirming the bearish breakout. Total volume for the day stands at 14.697 BNB, with the largest volume spike occurring between 05:00 and 08:00 ET. Notional turnover spiked to a high of $23,775,988.63 during the same period. Despite the increased volume, price only moved marginally lower, indicating some exhaustion. The divergence between volume and price movement suggests that the bearish momentum may not be as strong as it appears.

Fibonacci Retracements

Applying Fibonacci retracements to the recent swing high of 1,645,086.0 and low of 1,604,096.0, key levels include 61.8% at 1,617,298.0 and 38.2% at 1,626,748.0. The current price is near the 100% extension of the prior move, indicating a potential oversold bounce scenario. A retest of the 61.8% level appears likely if bullish volume reemerges.

Backtest Hypothesis

To set up an accurate back-test I need a bit more detail:
1. Which stock (or list of tickers) would you like to test?
2. How would you like me to define the “next support level” for the exit?
• Common choices are:
– The most recent swing-low price.
– A fixed percentage drop from entry (e.g., –3%).
– A moving-average level (e.g., 20- or 50-day SMA).
3. Are we:
• Opening a short position when RSI first crosses above the overbought threshold (e.g., RSI > 70)?
• Or closing an existing long position at that point?
4. Which RSI parameters should we use? (Default is 14-period RSI with overbought threshold = 70.)
5. Confirm the exact back-test window: from 2022-01-01 through today (2025-11-02).
Once I have these details I can pull the required data, generate the signals, and run the back-test for you.