Market Overview: Solv Protocol/BNB (SOLVBNB) on 2025-10-03

• SOLVBNB traded lower in a volatile range, closing at 3.871e-05 after a 15-minute downswing late ET.
• Volatility expanded in overnight hours, with a 1.2% range between daily high and low.
• RSI showed oversold conditions early in the session but failed to confirm strong buying pressure.
• Volume spiked at 21:00 ET and again at 09:00 ET, aligning with price declines.
• A potential support zone formed between 3.85e-05–3.83e-05, while 3.91e-05–3.93e-05 acted as resistance.

Solv Protocol/BNB (SOLVBNB) opened at 4.037e-05 at 12:00 ET – 1 and closed at 3.871e-05 at 12:00 ET the following day, with a high of 4.037e-05 and a low of 3.785e-05. Total volume over 24 hours reached 2,296,109.0, with notional turnover driven by high volatility and sharp intraday corrections.

Structure & Formations

The candlestick pattern suggested bearish momentum, particularly from 01:00 to 09:00 ET, where a series of lower highs and lower lows formed a descending channel. A notable bearish engulfing pattern appeared around 00:15–00:30 ET, followed by a deep retracement at 01:30 ET where price tested the 3.85e-05 support level. A doji formed at 07:45 ET, signaling indecision, but the price continued to trend lower. Key resistance is now at 3.91e-05–3.93e-05, with support at 3.85e-05 and 3.83e-05.

Moving Averages

On the 15-minute chart, the 20-period moving average crossed below the 50-period MA in early hours, confirming a bearish bias. The 50-period MA currently sits at ~3.92e-05, acting as a dynamic resistance. On the daily chart, the 50-period MA at ~3.95e-05 is above current price, suggesting a longer-term bearish tilt.

MACD & RSI

The MACD remained negative throughout the session, with a bearish crossover at 00:30 ET. RSI dropped into oversold territory twice—once at 01:30 ET and again at 09:00 ET—but failed to reverse, indicating a lack of buyers. This divergence between RSI and price suggests further downside may be likely.

Bollinger Bands

Volatility expanded between 22:00 and 09:00 ET, with Bollinger Bands widening significantly. Price spent most of the session in the lower half of the bands, suggesting bearish pressure. A contraction in the bands was observed from 15:00 to 18:00 ET, hinting at a possible reversal, but it failed to materialize.

Volume & Turnover
Volume spiked at 21:00 ET and 09:00 ET, coinciding with sharp price declines. The 09:00 ET volume of ~56,933.0 accompanied a 0.6% drop in price, indicating bearish conviction. However, turnover did not show a proportional increase, suggesting that large players may have been involved. A divergence between price and turnover at 09:00 ET raises caution for continuation of the downtrend.

Fibonacci Retracements

The 38.2% retracement level (3.89e-05) was tested twice but failed to hold. The 61.8% level at ~3.85e-05 held strong during the early morning sell-off and acted as a key support. A breakdown below 3.83e-05 would likely target 3.80e-05 or 3.75e-05.

Backtest Hypothesis

Given the recent bearish structure and key support failures, a backtest strategy could involve shorting SOLVBNB on a close below 3.83e-05, with a stop above the 3.87e-05 resistance zone and a target at 3.80e-05. A long entry might consider a retest of the 3.91e-05–3.93e-05 resistance with a stop below 3.85e-05. The strategy would benefit from confirming volume increases and RSI divergence as signals for entry and exit.

In the next 24 hours, a retest of the 3.85e-05–3.83e-05 support zone is likely, with a risk of further downside if the 3.83e-05 level breaks. Traders should remain cautious of bearish momentum and divergences in technical indicators, especially if volume surges again.