Conflux/Tether Market Overview

• CFXUSDT consolidates near 0.1032 as 15-min volume spikes near end of day.
• RSI and MACD show neutral momentum with no clear overbought/oversold bias.
• Key support at 0.1013 and resistance at 0.1033 define a tight trading range.
• Bollinger Bands narrow mid-session before widening, suggesting rising volatility.
• Bullish Engulfing potential flagged at 0.1025, but not confirmed by full candlestick.

Conflux/Tether (CFXUSDT) traded between 0.1024 (open) and 0.1035 (high) over the past 24 hours, closing at 0.1029 (as of 12:00 ET) with a low of 0.1006. Total volume was 40,068,360.00 and turnover was 4,086.90 USD. A late-day rally above 0.1033 capped the session, hinting at renewed short-term buyer interest after a morning slump.

Structure & Formations

The 15-min chart shows a consolidation pattern within a 0.1011–0.1033 range, with key support at 0.1013 and resistance at 0.1033. A potential Bullish Engulfing pattern appeared at 0.1025, with a 0.1021 open and 0.1025 close, but it was quickly negated by a bearish retracement. A series of small bodies between 0.1013–0.1021 suggest indecision. The price appears to favor the upper half of the range, with the last 6 hours of data trending upward after a midday selloff.

Moving Averages

On the 15-min chart, the 20SMA (0.1022) and 50SMA (0.1020) are in a bullish crossover, indicating short-term upward bias. On the daily chart, the 50DMA is at 0.1024, closely aligning with the 20SMA, suggesting a neutral to slightly bullish trend. The price is currently trading above both the 50DMA and 200DMA, indicating a mildly bullish bias over the medium term.

MACD & RSI

The MACD line crossed above the signal line in the early afternoon, forming a bullish divergence with a moderate histogram expansion. RSI is at 58, suggesting neither overbought nor oversold conditions. The indicator's mid-50s position indicates a balanced market, with no immediate reversal signals. Momentum appears to have stabilized after a morning sell-off.

Bollinger Bands

Bollinger Bands tightened during the late morning hours (17:30–20:00 ET), signaling a potential breakout. The price broke out to the upper band during the 4:45–5:00 ET session, confirming increased volatility and bullish momentum. The bands have since expanded, with the upper band at 0.1035 and lower band at 0.1016, indicating a period of high volatility and a possible continuation of the current upward trend.

Volume & Turnover

Volume and turnover spiked during the 4:45–5:00 ET and 7:30–8:00 ET sessions, coinciding with a breakout above the 0.1033 resistance. Volume has remained above average for the past 12 hours, supporting the bullish move. However, a divergence between volume and price during the 22:00–23:00 ET period suggests a possible short-term pullback ahead. The overall volume profile supports the idea of an ongoing accumulation phase.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 0.1006–0.1035 move, the 38.2% level (0.1022) and 61.8% level (0.1016) appear to have acted as psychological support zones. The price bounced off the 61.8% level in the afternoon and tested the 38.2% level twice before closing above it. These levels may continue to serve as key reference points for near-term price action.

Backtest Hypothesis

To validate the potential for a Bullish Engulfing strategy on CFXUSDT, we propose an automated backtest using raw OHLC data from 2022-01-01 to 2025-11-01. The strategy would identify all instances of the pattern using candlestick logic—specifically, where a bullish candle’s close is above the previous bearish candle’s close and open is below the previous candle’s open. Each signal would be tested with a 1:1 risk-reward target and stop-loss. This approach allows us to assess the pattern’s reliability in real-world conditions without relying on a third-party signal source.