Market Overview for Conflux/Tether (CFXUSDT): 24-Hour Action to $0.1493

• Price surged from $0.1421 to $0.1493, forming bullish momentum with strong volume during early ET hours.
• CFXUSDT saw $62.6M turnover on 4.24M volume, indicating increased participation and volatility.
• A Bullish Engulfing pattern emerged near $0.1442, followed by a Bullish Trend Continuation above $0.1470.
• RSI peaked above 70 during the surge, suggesting potential overbought conditions toward $0.1490.
• Strong support at $0.1460–0.1464 with Fibonacci retracement levels at 38.2% and 61.8% confirming key psychological levels.

Price, Volume, and Turnover Summary

Conflux/Tether (CFXUSDT) opened at $0.1421 on 2025-10-04 at 12:00 ET and closed at $0.1469 on 2025-10-05 at 12:00 ET. The pair reached a 24-hour high of $0.1493 and a low of $0.1420. Total volume amounted to 4.24 million, with a notional turnover of $62.6 million.

Structure & Formations

The 15-minute candlestick pattern displayed a Bullish Engulfing at $0.1442, signaling a reversal from bearish pressure. A Bullish Trend Continuation was confirmed during the late night and early morning ET sessions, as price surged past $0.1470 and formed a Rising Wedge pattern between $0.1460–0.1493. Key support levels at $0.1460 and $0.1450 held during pullbacks, with $0.1420 acting as a potential floor.

Moving Averages and Momentum

The 20-period and 50-period SMAs on the 15-minute chart crossed above $0.1440, confirming bullish momentum. The 50-period SMA at $0.1455 currently supports the trend, while the 200-period SMA on the daily chart at $0.1435 is being outperformed. RSI peaked above 70 during the $0.1490 high, suggesting overbought conditions. MACD turned positive during the late-night surge, indicating growing bullish momentum.

Bollinger Bands and Fibonacci Levels

Price expanded beyond the upper Bollinger Band during the $0.1493 high, indicating high volatility and potential exhaustion. The lower band hovered around $0.1440–0.1450, where price found support multiple times. Fibonacci retracement levels from the $0.1420–0.1493 swing confirmed $0.1460 (61.8%) as a key level and $0.1470 (38.2%) as a potential target for near-term consolidation.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions at the confirmation of a Bullish Engulfing pattern near key Fibonacci retracement levels, with a stop loss below the lower Bollinger Band. Given the recent strength of the 20-period SMA and the positive MACD, a trailing stop could be used to lock in gains as price approaches $0.1480–0.1490.