Market Overview for BNB/Argentine Peso (BNBARS) - November 8, 2025

Summary
• BNB/Argentine Peso (BNBARS) rose 3.4% in 24 hours, closing near its 24-hour high of 1,477,921.
• Strong volume and momentum in early morning ET suggest bullish follow-through.
• RSI near overbought levels raises caution about short-term profit-taking.

BNB/Argentine Peso (BNBARS) opened at 1,411,144 on November 7 at 12:00 ET and closed at 1,463,019 on November 8 at the same time. The pair reached a 24-hour high of 1,487,145 and a low of 1,447,259. Total volume traded was 11.79 BNB, with a notional turnover of approximately 16,906,835 Argentine Pesos. Price action shows a strong bullish bias amid rising volatility and momentum.

Structure & Formations

Price action over the past 24 hours displayed a clear bullish bias, with a sequence of higher highs and higher lows forming an ascending channel. A key support level appears to be near 1,450,000, which held through multiple pullbacks. A strong bullish engulfing pattern was observed at the 17:30 ET candle on November 7, confirming a breakout from a consolidation phase. The 1,487,145 high on November 8 may act as a key resistance for the next 24 hours.

Moving Averages

On the 15-minute chart, the 20SMA and 50SMA have been in an ascending alignment, with price consistently above the 50SMA, suggesting bullish continuation. The daily chart shows a wider divergence, with the 200DMA providing a psychological floor around 1,410,000. While price is currently above the 50DMA and 100DMA, a test of the 200DMA could signal exhaustion in the near-term rally.

MACD & RSI

The MACD line crossed above the signal line in the early morning, forming a bullish crossover. RSI has surged into overbought territory, currently near 72, suggesting potential for a short-term pullback. While momentum remains strong, a closing below the 20SMA could trigger a retest of the 1,450,000 support level. Divergence between RSI and price may hint at fading momentum.

Bollinger Bands

Volatility has expanded significantly over the past 24 hours, with the 20-period Bollinger Bands widening. Price has moved above the upper band multiple times, indicating strong conviction in the bullish move. A narrowing of the bands in the next session may precede a potential consolidation phase, but current readings suggest that the trend remains intact.

Volume & Turnover

Volume spiked in the late afternoon and early evening ET hours, coinciding with strong price advances. Notional turnover also increased, confirming the move higher. A divergence between volume and price could signal a reversal, but the current alignment supports continued bullish momentum. A key divergence may occur if price fails to make a new high while volume declines.

Fibonacci Retracements

On the 15-minute chart, the 38.2% and 61.8% retracement levels from the November 7 low to the November 8 high are at approximately 1,470,000 and 1,455,000. Price may retest the 61.8% level before finding support. On the daily chart, the 61.8% retracement from a recent lower swing is near 1,430,000, a potential level for further consolidation.

Backtest Hypothesis

The “3-Day Hold after Bullish Engulfing” strategy, as described, aims to capture bullish continuation after the formation of a key candlestick pattern. This aligns with the recent bullish engulfing pattern observed on the 15-minute chart at the 17:30 ET candle on November 7. Given the current alignment of momentum and volume, a similar strategy could be profitable over the next three trading sessions if the trend continues. However, the overbought RSI and potential for a consolidation phase mean that this strategy should be used with caution, ideally accompanied by a trailing stop or exit rules to manage risk.