Market Overview for Conflux/Tether (CFXUSDT) as of 2025-10-24

• CFXUSDT traded in a narrow range until a sharp rally post 17:00 ET pushed price toward 0.1100.
• A key breakout above 0.1106 failed, triggering profit-taking and consolidation in the 0.1112–0.1126 range.
• Volume surged during the 0.1113–0.1133 rally, but turnover declined as price retraced toward 0.1110.
• RSI overbought above 68 in early hours, while MACD diverged as price hit new highs.
• A high-volume rejection at 0.1126 and a bearish engulfing pattern at 0.1131 may signal short-term reversal risk.

24-Hour Price and Volume Summary

Conflux/Tether (CFXUSDT) opened at 0.1083 on October 23, 2025 at 12:00 ET, reached a high of 0.1133, and closed at 0.1110 at 12:00 ET on October 24. Total volume traded was 21,468,166.0, with a notional turnover of $2,383,765. The pair saw strong buying pressure in the early hours of October 24, capped by a high-volume bearish reversal at the 0.1126–0.1133 zone.

Structure & Formations

CFXUSDT formed a bullish flag pattern between 0.1086 and 0.1106 during the 17:00–04:30 ET window, followed by a failed breakout and consolidation. A bearish engulfing pattern formed around 0.1131–0.1126 at 03:45 ET, suggesting short-term exhaustion. The price found key support at 0.1110–0.1112 twice, indicating a possible short-term floor.

Moving Averages

On the 15-minute chart, price briefly crossed above the 20-period and 50-period moving averages during the 0.1102–0.1116 rally. However, the 50-period MA remains above the 20-period, suggesting continued caution. On the daily chart, the 100-period MA sits at 0.1098, while the 200-period MA is at 0.1089, indicating a potential bullish bias over a longer time frame.

MACD & RSI

The 12/26/9 MACD showed a bullish crossover in the 17:00–00:00 ET range, but a bearish divergence formed as the line dropped below zero after the 03:15 ET high. RSI spiked to over 68 after 0.1106 was breached, but dropped into neutral territory after 05:30 ET as the rally stalled, signaling weakening momentum.

Bollinger Bands

Price expanded beyond the upper Bollinger Band during the 03:30–04:00 ET rally, reaching 0.1108, before retreating toward the middle band. The bands have since narrowed slightly, indicating a potential pause in volatility, though the upper band remains at 0.1128–0.1133, a key resistance cluster.

Volume & Turnover

The most notable volume spike occurred at 03:15 ET, with a 2.18M volume bar, as price hit 0.1125. Turnover spiked at the same time but dropped sharply after 04:15 ET, even as price continued to inch higher. This divergence suggests that the move was driven by concentrated buying that has since subsided.

Fibonacci Retracements

A 0.618 retracement level of the 0.1078–0.1133 move sits at 0.1112–0.1114, which aligns with the price’s consolidation zone. The 0.382 retracement level is at 0.1098, where the 50-period MA also resides, suggesting a potential pivot for further direction.

Backtest Hypothesis

The recent price action on CFXUSDT, particularly the failed breakout above 0.1106 and the bearish engulfing pattern at 0.1131, aligns with potential entry and exit signals for a pattern-based backtest. An Inverse Head-and-Shoulders (IH&S) pattern, if confirmed, could serve as an entry trigger, while a target at 0.1137—currently a strong resistance level—could act as a clean exit point. However, to build a robust backtest, we must clarify whether to close the position the moment the daily close hits or exceeds 0.1137 or if we wait for a full bar above this level. Similarly, if the price does not reach 0.1137, should the position be carried until the next IH&S completion, or should it be closed at the end of the backtest period? Any additional rules such as a stop-loss or maximum holding period would also strengthen the strategy’s framework.