Market Overview for BENQI/Tether (QIUSDT) – 24-Hour Summary as of 2025-10-03

• QIUSDT opened at $0.00809 and closed at $0.00812, with a 24-hour range of $0.00809–$0.00850.
• Price formed a bullish reversal pattern after hitting a high of $0.00850, followed by a consolidation phase.
• RSI and MACD suggest oversold conditions and weakening bearish momentum.
• Volatility expanded early in the session, with a peak in turnover at $0.00850, followed by a contraction.
• Volume confirmed price strength around key support and resistance levels.

QIUSDT opened at $0.00809 on 2025-10-02 12:00 ET and closed at $0.00812 on 2025-10-03 12:00 ET. The 24-hour range was $0.00809 to $0.00850. Total volume reached 31.7 million units, with a notional turnover of approximately $262,000, suggesting moderate activity relative to the price range.

Over the 24-hour period, QIUSDT experienced a sharp price rebound from a key level after hitting a high of $0.00850, with a bullish reversal pattern forming as the asset pulled back. The price may be testing a critical support cluster between $0.00822–$0.00826, which appears to be holding as a psychological floor. A 15-minute chart shows a sequence of bullish engulfing and doji patterns, signaling indecision and potential reversal. A 20-period and 50-period moving average crossover on the 15-minute chart suggests short-term bearish momentum, but the 50-period line is starting to flatten, hinting at a potential trend shift.

Structure & Formations

Key support levels were identified at $0.00822 and $0.00818, with $0.00814 acting as a deeper floor. Resistance levels include $0.00836 and $0.00846, where price stalled multiple times. Notable candlestick patterns include a bullish engulfing at $0.00832–$0.00836, a bearish harami at $0.00846–$0.00840, and multiple doji patterns near $0.00836, indicating indecision. A morning star pattern formed at $0.00826–$0.00831, suggesting possible bullish momentum.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed in a bearish divergence near $0.00836–$0.00840, but the 50-period line began to flatten as the price approached support at $0.00826. On the daily chart, the 50-period MA sits at $0.00823, with the 100-period at $0.00831 and the 200-period at $0.00828, creating a potential bullish crossover if price holds above the 50-period line.

MACD & RSI

MACD showed bearish momentum until the price approached $0.00830, at which point the histogram started to contract, signaling a potential exhaustion of the downtrend. RSI bottomed at 30 in the early morning (ET), reaching oversold territory before rebounding, now hovering around 45–48. This suggests a moderate bullish momentum buildup, but the asset remains in a neutral zone with no extreme overbought or oversold conditions.

Bollinger Bands

Bollinger Bands expanded significantly during the early peak at $0.00850, with the mid-band at $0.00838 and the upper band at $0.00854. As the price pulled back, volatility contracted, and the bands tightened around $0.00822–$0.00838. Price closed near the mid-band, suggesting indecision. A sustained break above the upper band or below the lower band could trigger a volatility expansion phase.

Volume & Turnover

Volume spiked to 6.6 million units at the $0.00850 level, confirming the sharp move, and then declined as the price retreated. The notional turnover was highest in the $0.00832–$0.00846 range, where price fluctuated but failed to break through key resistance. No major divergence between price and volume was observed, suggesting continued alignment of price action with volume.

Fibonacci Retracements

Applying Fibonacci to the key swing from $0.00850 to $0.00822, the 38.2% level sits at $0.00836, where price stalled for several periods. The 61.8% retracement is at $0.00831, which is currently the mid-point of the recent consolidation phase. Price may find support at the 61.8% level before attempting another move higher.

Backtest Hypothesis

The observed consolidation phase and multiple candlestick reversal patterns suggest a potential breakout or breakdown scenario. A backtesting strategy could target entries near the 61.8% Fibonacci level ($0.00831) on a confirmed break above the 20-period MA, with a stop-loss placed below the 38.2% level. Given the alignment of the 50-period MA flattening and RSI moving out of oversold territory, a bullish breakout scenario appears more probable than a breakdown, though a sharp move to the downside would require confirmation via a break below $0.00822 and a significant increase in volume.