Market Overview for BENQI/Tether (QIUSDT) on 2025-09-27

• BENQI/Tether (QIUSDT) posted a bullish close at 0.00804, up from 0.00787, amid rising volume and tightening volatility.
• Price formed a bullish engulfing pattern near 0.00804–0.00805, signaling possible short-term buying interest.
• RSI approached overbought territory (60.4), while MACD crossed into positive territory, suggesting rising momentum.
• Bollinger Bands showed a mild contraction, suggesting potential for a breakout.
• Volume surged during key bullish rallies, validating price action and trend strength.

15-Minute Market Dynamics

BENQI/Tether (QIUSDT) opened at 0.00787 on 2025-09-26 12:00 ET and closed at 0.00804 by 12:00 ET on 2025-09-27, rising 0.00017. The 24-hour high was 0.00839, while the low was 0.00782. Total volume reached 7,813,452.0, with a notional turnover of $62,786.6 (calculated as volume × average price). The price action formed a bullish engulfing pattern near the 0.00804–0.00805 range, with the last 15-minute candle closing above key resistance.

Structural Formations and Key Levels

The 0.00804–0.00805 area appears to be a key resistance cluster, having been tested and cleared on multiple occasions. Below, the 0.00794–0.00797 zone offers immediate support. A bearish doji at 0.00802 on 2025-09-27 03:45 ET suggests a potential pullback. The 20-period and 50-period moving averages on the 15-minute chart are converging upward, reinforcing the bullish bias.

Volatility and Momentum Indicators

Bollinger Bands have shown a recent contraction after a period of high volatility, which may signal a potential breakout or consolidation phase. RSI reached 60.4 at the close, indicating rising momentum but not yet overbought. The MACD histogram turned positive and crossed above the signal line, reinforcing the bullish bias.

Volume and Turnover Insights

Volume spiked during the bullish push from 0.00805 to 0.00828 (between 18:15–18:30 ET), validating the strength of the move. The 0.00828–0.00831 range saw a volume pullback, indicating a potential pause. Price and volume are aligned, with no clear divergence observed.

Backtest Hypothesis

The recent bullish engulfing pattern and MACD crossover suggest a potential long bias. A possible backtest strategy could involve entering a long position on a break above 0.00805 with a stop-loss at 0.00794. Given the RSI’s proximity to overbought and Bollinger Band contraction, a target range of 0.0081–0.00815 could be considered for a short-term trade.

Looking Ahead

In the next 24 hours, a break above 0.00815 could trigger a test of the upper Bollinger Band and extend the bullish trend. However, a pullback to 0.00794–0.00797 should be monitored for potential divergence or confirmation of the trend’s health. Investors should remain cautious of a volatility expansion following a contraction, which could lead to either a breakout or a sharp reversal.