Market Overview: BNTUSDT - 24-Hour Movement and Momentum

• BNTUSDT declined by 3.6% in 24 hours, reaching a low of 0.7076 near the close
• Volume surged to 56,800.8 units in the final 6 hours, with bearish momentum confirmed by RSI and MACD
• Price broke below key 15-minute support at 0.7120, triggering further sell-through to 0.7062
• Bollinger Bands widened significantly, reflecting heightened volatility after 00:00 ET
• Divergence between volume and price in the morning suggests potential exhaustion

At 12:00 ET on 2025-09-20, BNTUSDT opened at 0.7272, reaching a high of 0.7286 before closing at 0.7076 at 12:00 ET on 2025-09-21. Total volume across the 24-hour 15-minute OHLCV dataset was 56,800.8, with a notional turnover of 39,505.05 USD (assuming 1 unit = USD 1). The asset faced strong bearish pressure after 00:00 ET, with a sharp drop to 0.7062 before consolidating into a range between 0.7076 and 0.7097 by the close.

Structure & Formations

The 15-minute chart revealed a clear breakdown pattern after a bullish attempt around 02:30 ET failed. A bearish engulfing pattern appeared at 00:30 ET, signaling a shift in sentiment. The price also tested the 0.716–0.718 support zone twice, both times failing to hold, suggesting the zone had lost credibility. A doji at 03:45 ET marked a temporary pause in the decline, but bears retook control shortly after.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both crossed below key support levels, reinforcing the bearish bias. For the daily timeframe, the 50-period MA was above the 100-period and 200-period lines, suggesting a mixed short- and long-term bias with the short term heavily favoring downward movement.

MACD & RSI

The MACD crossed below the zero line at 02:30 ET, indicating bearish momentum. It remained negative for the rest of the session, with a broad negative divergence as volume increased. RSI dropped to 28, entering oversold territory, though this did not trigger a reversal. Instead, the RSI remained in the 25–35 range for much of the session, suggesting a potential continuation of the bearish move.

Bollinger Bands

Volatility expanded significantly after 00:00 ET, with the bands widening to accommodate the sharp drop in price. By 03:00 ET, the bands began to contract slightly, but price remained near the lower band, indicating a possible continuation of the bearish trend. The last 30 minutes of the session saw the price trading within the 0.7076–0.7097 range, suggesting a possible consolidation before a further move.

Volume & Turnover

Volume and turnover were both highest during the overnight and early morning hours, with the 00:30–03:00 ET period showing the most activity. This aligns with the most significant price drop of the session. Notably, while turnover increased, price did not move immediately on that volume—suggesting either liquidity absorption or bearish exhaustion. A divergence began forming after 04:00 ET, with volume decreasing while price continued to consolidate near 0.7080.

Fibonacci Retracements

The 15-minute swing from 0.7286 to 0.7062 found key resistance at the 23.6% and 38.2% retracement levels. Price bounced off the 38.2% level at 0.716 but failed to hold at the 23.6% level at 0.719. On the daily chart, the 61.8% level remains critical at 0.713 and could serve as a potential support/resistance pivot in the next 24 hours.

Backtest Hypothesis

A potential backtest strategy would involve entering a short position when the 20-period and 50-period moving averages cross below a key support level, confirmed by a bearish engulfing pattern and a MACD cross below zero. An initial stop loss could be placed just above the nearest resistance, with a target set at the 61.8% Fibonacci level or beyond if the RSI remains in oversold territory. This approach appears to have worked well in the last 6 hours of the session and may be valid for continuation trading into the next 24 hours.