Market Overview for Bonk/Tether (BONKUSDT) – 24-Hour Candlestick Analysis

• Bonk/Tether (BONKUSDT) edged higher over 24 hours, closing near intraday highs amid a surge in volume.
• Price action showed a bullish bias in late trading, with a break above key 15-minute resistance levels.
• RSI and MACD suggest moderate bullish momentum, with no signs of overbought conditions yet.
• Volatility remained elevated in late-session hours, driven by high notional turnover in the 18:00–22:00 ET window.
• Bollinger Bands expanded during peak volume hours, signaling increased uncertainty and potential trend continuation.

Bonk/Tether (BONKUSDT) opened at $0.00002364 on 2025-09-17 at 12:00 ET and closed at $0.00002506 the following day at 12:00 ET. The pair reached a high of $0.00002600 and a low of $0.00002332, with a 24-hour volume of $346,822.7 million and notional turnover of $150.4 million.

The 15-minute chart shows a clear bullish bias, with price testing and clearing multiple resistance levels between $0.00002440 and $0.00002520. Key support levels remain at $0.00002420 and $0.00002460, both of which acted as temporary floors during the session. A strong bullish engulfing pattern formed around 18:15–19:15 ET, suggesting a shift in sentiment toward buyers. A doji near $0.00002490 in the early morning suggests indecision and may signal a consolidation phase ahead.

The 20-period and 50-period moving averages on the 15-minute chart are both bullish, with the 20-period line above the 50-period. On the daily chart, the 50-period moving average appears to be catching up to the 200-period, which could indicate a potential short-term trend continuation. The RSI has moved into the 55–60 range, indicating moderate bullish momentum without overextension. MACD has been positive throughout the session, with the histogram expanding during peak volume hours, suggesting strong buying pressure.

Bollinger Bands have expanded significantly between 18:00 and 22:00 ET, reflecting heightened volatility during the breakout phase. Price has spent a large portion of the session near the upper band, particularly after 19:30 ET, which is a sign of strong momentum. However, the recent move to $0.00002506 has brought the price close to the 61.8% Fibonacci retracement level of the recent swing high, which could act as a potential ceiling in the near term.

The 15-minute chart’s bullish divergence between price and volume suggests strong conviction in the upward move. Total volume of $346.8 billion exceeded the average by a wide margin, especially during the 18:00–22:00 ET window. Notional turnover aligned with the volume pattern, with a peak around $0.00002520 as the price pushed through critical resistance. No significant price-volume divergence was observed, indicating that the move is supported by broad market participation.

Given the current momentum and key resistance levels in place, BONKUSDT may continue its upward trajectory over the next 24 hours if it sustains above $0.00002500. However, a pullback to the 38.2% Fibonacci level at $0.00002485 could test the strength of the bullish case. Investors should remain cautious of a potential overbought scenario should RSI break above 65, which could trigger profit-taking.

Backtest Hypothesis

A potential backtesting strategy could involve a bullish breakout system based on the 20-period and 50-period moving averages, triggered on the 15-minute chart when price closes above the upper Bollinger Band and RSI exceeds 55. This would be complemented by a stop-loss placed at the nearest Fibonacci support level and a take-profit at the 61.8% retracement or a fixed 5% target. Such a system would aim to capture momentum-based moves during high-volume periods, particularly in the 18:00–22:00 ET window when volatility is typically higher. Historical performance would need to be tested using daily and intraday data to optimize entry and exit rules.