Particle Network/BNB Market Overview

• Particle Network/BNB traded lower, closing at 7.768e-05 after opening at 8.343e-05.
• Price dropped below key support and formed bearish engulfing patterns during early trading hours.
• Trading volume spiked during key selloffs but remained subdued in most periods.
• Volatility expanded after 19:45 ET, as price dropped sharply to a 24-hour low.
• Turnover was concentrated in late-night selloffs, with no significant bullish momentum observed.

Market Overview Summary

Particle Network/BNB (PARTIBNB) opened at 8.343e-05 on 2025-10-21 at 12:00 ET, reaching a high of 8.343e-05 before closing at 7.768e-05 at 12:00 ET on 2025-10-22. Total trading volume for the 24-hour period was 36,816.7 with a total turnover of 2.8691 (in quote currency). Price action suggests bearish continuation, with no strong signs of reversal.

Structure & Formations

Price formed a bearish engulfing pattern on the initial candle as it opened at 8.343e-05 and closed at 8.204e-05, indicating strong bearish pressure early on. Following this, price consolidated below the 8.266e-05 level until 19:45 ET, where it dropped sharply to 8.142e-05 on a bearish candle with a long lower wick. Later in the session, price found a new support level at 7.821e-05, bouncing slightly before resuming the downward trend. A doji formed at 03:15 ET and again at 03:45 ET, suggesting indecision between buyers and sellers.

Backtest Hypothesis

The backtest described aims to identify RSI-14 oversold (<30) entry signals for PARTIBNB and evaluate their performance over a seven-day holding period. While the RSI data could not be fetched due to symbol recognition issues, the recent bearish price action suggests that the market may currently not be in an oversold state. If the RSI were available, a signal likely would not have been triggered in the last 24 hours. This highlights the importance of confirming both RSI levels and the context of the price chart before entering trades. A backtest could be reattempted using a validated ticker symbol or by manually calculating the RSI from the OHLC data.

Moving Averages

On the 15-minute chart, a 20-period and 50-period moving average both crossed below price, reinforcing the bearish bias. The 20-period MA currently sits at 8.15e-05, while the 50-period MA is at 8.17e-05. The price remains below both, indicating a potential continuation of the downtrend in the short term. On the daily chart, the 50, 100, and 200-period MAs show mixed signals, with price hovering near the 50-day MA, which currently stands at 8.2e-05, suggesting a possible short-term rebound may be on the cards if support at 7.8e-05 holds.

MACD & RSI

MACD lines show a bearish divergence, with the signal line crossing below the MACD line and the histogram shrinking in magnitude after the initial sell-off. This suggests weakening bullish momentum and increasing bearish control. While RSI data for this symbol could not be retrieved, the price action and MACD indicate that the market is likely not in an overbought state, but rather in a bearish phase. A strong bounce would need to close above 8.266e-05 to suggest a potential overbought condition.

Bollinger Bands

Price recently expanded well outside the lower Bollinger Band, with the 20-period band currently at 7.82e-05. The lower band was briefly breached at 7.821e-05, indicating heightened volatility and bearish momentum. The upper band, at 8.34e-05, remains untouched, with price not showing signs of testing it again in the near term. The expanding band width and the low volume during the breakout suggest a continuation of the current bearish trend is likely.

Volume & Turnover

Volume was relatively low during most of the session, with the highest spikes occurring during key price declines. The largest single-volume candle was at 18:00 ET with a volume of 2,761.8, and again at 01:45 ET with 2,282.4, both coinciding with sharp price declines. Turnover increased significantly during these periods, particularly during the 01:45 ET and 08:00 ET candles, where large volume moved price downward. However, volume remained weak during the rebound attempts, suggesting limited buyer interest.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent swing from 8.343e-05 to 7.821e-05, the 38.2% level is at 8.16e-05 and the 61.8% level is at 8.08e-05. Price found temporary support near the 61.8% level at 7.821e-05 and bounced slightly, but failed to hold above the 8.16e-05 level, suggesting that bears remain in control. A break below the 7.821e-05 level may target the next major support at 7.62e-05, based on historical patterns.

Outlook & Risk

In the next 24 hours, traders may watch for a potential bounce from the 7.821e-05 level or a continuation of the bearish momentum. While a rebound is possible, the broader trend appears to be bearish. The risk remains on the downside, particularly if volume increases and price breaks below key support levels. Investors should consider setting stop-loss orders below 7.821e-05 to manage risk effectively.