Market Overview for Conflux/Tether (CFXUSDT): Bullish Consolidation Amidst Volatility

• Conflux/Tether (CFXUSDT) traded in a tight range today, with a bullish bias emerging after 19:30 ET.
• A key breakout above 0.1119 confirmed a short-term bullish momentum, supported by increasing volume.
• Price retested 0.1104–0.1106 as a potential support cluster but showed bearish exhaustion in the overnight session.
• Bollinger Band contraction in the early morning indicated a period of low volatility, followed by a sharp expansion.
• MACD turned positive mid-day, but RSI remains neutral, with no clear overbought or oversold signals.

Conflux/Tether (CFXUSDT) opened at 0.1105 on 2025-10-24 at 12:00 ET and closed at 0.1105 on 2025-10-25 at the same time. The pair reached a high of 0.1127 and a low of 0.1095 over the 24-hour period. Total volume traded was 9,997,554 and notional turnover amounted to approximately $1.098 million. Price action showed a bearish drift overnight followed by a strong push higher in the late afternoon and evening hours.

Structure & Formations

The 15-minute OHLCV data shows a series of bullish and bearish consolidations, with a key engulfing pattern forming at 19:30 ET after a long period of sideways movement. This pattern suggested a short-term reversal and confirmed the breakout above 0.1119. Price found temporary support at 0.1104–0.1106, with two doji candles forming around 05:45 and 06:00 ET, signaling indecision and potential reversal. These levels could serve as near-term support if a pullback occurs.

Moving Averages

Using 20-period and 50-period SMAs on the 15-minute chart, the pair moved above both lines after the 19:30 ET session. The 20SMA crossed above the 50SMA, forming a golden cross, which is a bullish signal. While the 50-period SMA remained as a key dynamic support line, the 20-period SMA acted as a short-term directional guide. On the daily chart, the 50DMA has been slowly rising, suggesting medium-term accumulation.

MACD & RSI

The 12:00 ET–12:00 ET period saw the MACD turn positive in the late afternoon, confirming bullish momentum. However, the RSI remained in neutral territory, fluctuating between 45 and 55, with no clear overbought or oversold readings. This suggests that while the direction is bullish, the momentum remains cautious, with no clear signs of exhaustion on the upside or bearish reversal on the downside.

Bollinger Bands

Bollinger Bands showed a clear contraction during the overnight hours, indicating a low-volatility environment. Price traded within a narrow range between 0.1104 and 0.1111 for most of the early morning before a sharp expansion occurred around 19:00 ET. By 22:00 ET, the upper band reached 0.1127, and the lower band had dropped to 0.1109. Price action has remained well within the bands, suggesting that volatility remains moderate.

Volume & Turnover

Volume showed a sharp increase starting at 19:00 ET, with the 19:30 and 20:30 ET candles seeing the highest turnover. These spikes coincided with the move above 0.1119 and the formation of bullish engulfing candles. Turnover diverged slightly from price during the 04:00–05:00 ET period, with price declining but volume remaining stable. This could signal a weak bearish conviction in that window.

Fibonacci Retracements

Using the 19:30–22:30 ET swing (0.1119 to 0.1127), the 38.2% and 61.8% levels are 0.1123 and 0.1120, respectively. Price tested both levels but failed to confirm a breakout. On the daily chart, Fibonacci retracements from the recent low to high suggest 0.1115–0.1118 as potential consolidation areas.

Backtest Hypothesis

The absence of RSI-14 data for CFXUSDT complicates the development of a standard momentum-based backtest strategy. One viable approach is to use a custom-built RSI indicator using the provided OHLCV data, which would allow for precise momentum tracking over the 15-minute timeframe. Alternatively, using a well-supported symbol such as BTCUSDT or ETHUSDT would streamline the backtesting process and provide robust results. For CFXUSDT, a hybrid strategy could incorporate the MACD and Fibonacci levels identified above, with entries triggered on golden cross confirmations and exits based on 38.2% or 61.8% retracement levels. This method would align with the observed price behavior and could serve as a starting point for further refinement.