Market Overview for BENQI/Tether (QIUSDT)

Summary
• Price tested key resistance near 0.0036 before consolidating into a tight range.
• Momentum waned as RSI hovered near neutral, signaling potential indecision.
• Volume surged during early breakout attempts but faded as price found equilibrium.
• Bollinger Bands narrowed toward the end of the day, hinting at a potential breakout.
• A bullish engulfing pattern appeared near the session low, suggesting short-term support strength.

BENQI/Tether (QIUSDT) opened at 0.00357 on 2026-01-06 at 12:00 ET, reached a high of 0.00364, a low of 0.00351, and closed at 0.00359 by 12:00 ET on 2026-01-07. Total volume for the 24-hour period was 35,880,699.0, with turnover of 131,341.15.

Structure & Formations

Price action developed within a 0.00351 to 0.00364 range, with 0.00361 and 0.00356 acting as key psychological levels. A bullish engulfing pattern formed near 0.00357, indicating possible short-term support strength. A doji at 0.00361 suggested indecision ahead of the 0.00362 resistance level.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages converged near the 0.00358–0.00359 zone, signaling a potential equilibrium. The 50-period line remained above the 100- and 200-period daily lines, suggesting a mildly bullish bias over the longer term.

MACD & RSI

. The MACD line crossed below the signal line in the afternoon, hinting at a potential shift in momentum. RSI remained in the 45–55 range for most of the session, indicating a lack of strong directional bias. A brief overbought condition emerged at 0.00364, but was quickly reversed.

Bollinger Bands

Volatility contracted in the final hours of the session, with price clustering tightly around the 20-period moving average. The narrowing of Bollinger Bands suggests a higher probability of a breakout in the next 24 hours.

Volume & Turnover

Volume spiked early in the breakout attempt at 0.00364 but declined sharply afterward. Notional turnover confirmed price consolidation toward the session close. A divergence between volume and price was observed as price pulled back from 0.00364 without significant selling pressure.

Fibonacci Retracements

Key 5-minute retracement levels (38.2% at 0.00359 and 61.8% at 0.00361) aligned with observed price consolidation. The daily swing from 0.00351 to 0.00364 placed the 61.8% retracement at 0.00358, which coincided with the current equilibrium range.

Looking ahead, the market appears to be entering a period of consolidation ahead of a potential breakout. A sustained move above 0.00362 could attract further buyers, but risks remain if volume fails to confirm the move. Investors should remain cautious and monitor the 0.00356–0.00361 range closely over the next 24 hours.