Market Overview: Conflux/Tether (CFXUSDT) 24-Hour Performance Summary

• CFXUSDT declined from 0.1503 to 0.1465 over 24 hours, forming bearish consolidation patterns.
• Key support at 0.1470–0.1465 and resistance at 0.1480–0.1485 were tested repeatedly.
• Momentum weakened as RSI fell below 30 and volume declined after sharp sell-offs.
• Volatility remained moderate, with prices oscillating within Bollinger Band midlines.
• High-volume sell-offs below 0.1475 confirmed bearish bias, but no significant divergence between price and volume.

24-Hour Summary

At 12:00 ET on 2025-09-23, CFXUSDT opened at 0.1494 and peaked at 0.1503 before declining to a low of 0.1445 by 04:15 ET. At 12:00 ET on 2025-09-24, it closed at 0.1480. Total volume over 24 hours was 53,452,523.0, with a notional turnover of approximately 7,806,061 USD. The price action reflected bearish momentum, with key support at 0.1470 and resistance at 0.1485.

Structure & Formations

The 24-hour OHLCV data for CFXUSDT showed a strong bearish trend, with price falling below key psychological levels. A long bearish candle formed around 03:30 ET, with a high of 0.1469 and a low of 0.1445, signaling deep bearish conviction. Several bearish engulfing patterns were observed, particularly in the early morning hours. A small doji appeared near 04:45 ET, suggesting short-term indecision, but it was quickly followed by continued selling. The price has shown repeated rejection at 0.1480, indicating a potential resistance level for the next 24 hours.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both trending downward, reflecting a strong bearish bias in the short term. The 50-period MA sits at approximately 0.1476, and the 20-period MA is slightly above it at 0.1477, indicating a narrowing bearish crossover. On the daily chart, the 50-period and 200-period MAs are also sloping downward, reinforcing the bearish trend across timeframes. These crossovers suggest continued pressure for prices to consolidate or test lower levels.

MACD & RSI

The MACD for CFXUSDT has remained in negative territory for most of the 24-hour period, with a bearish crossover occurring late on 2025-09-23. The histogram has been shrinking in the negative zone, indicating waning bearish momentum, but no clear sign of a reversal. The RSI has fallen below 30, indicating oversold conditions, but this has not been enough to trigger a strong rebound. While an RSI bounce above 40 could suggest a short-term corrective move, the overall momentum remains bearish, and a sustained rebound above 0.1480 would be needed to confirm a reversal.

Bollinger Bands

CFXUSDT traded within the middle and lower Bollinger Bands for much of the 24-hour period, with a brief dip below the lower band at 04:15 ET, where it touched 0.1445. This suggests that volatility increased during the sharp sell-off but has since stabilized. The bands have been relatively wide, indicating moderate volatility. If prices fail to break above the middle band and remain within the lower half of the band, it could indicate continued bearish pressure. A sustained move above the upper band would be a strong bullish signal.

Volume & Turnover

Volume for CFXUSDT surged during key bearish phases, particularly between 03:30 and 04:15 ET, when the price dropped from 0.1469 to 0.1445 on high volume. This volume confirmed the bearish move and indicated strong selling pressure. However, volume has since declined as prices consolidate around 0.1470–0.1480, suggesting lower conviction in further downward moves. Notional turnover followed a similar pattern, peaking during the same bearish phase. The absence of a volume spike during the recent consolidation suggests limited buying interest at current levels.

Fibonacci Retracements

Applying Fibonacci retracement to the recent 15-minute swing (0.1445–0.1503), the 38.2% retracement level is at approximately 0.1476, and the 61.8% level is at 0.1489. Prices have been consolidating near the 38.2% level, which could act as a short-term support/resistance zone. On the daily chart, the key Fibonacci levels are aligned with the 0.1470–0.1480 range, reinforcing its importance for near-term price action. A break above 0.1489 could signal a potential reversal, while a breakdown below 0.1470 would target the next lower level at 0.1465.

Backtest Hypothesis

The backtest strategy described assumes a short-term bearish setup based on the convergence of bearish candlestick patterns, RSI oversold conditions, and volume confirmation. A hypothetical entry would be triggered when prices break below the 38.2% Fibonacci level on the 15-minute chart, with a stop-loss above the 0.1480 resistance and a target near 0.1465. This aligns with the observed price behavior and technical indicators over the past 24 hours, making it a plausible setup for the next 24-hour window.