Market Overview for Contentos/Tether (COSUSDT) on 2025-10-04

• COSUSDT traded in a tight range, with key support near 0.00308 and resistance near 0.00317.
• Volatility expanded overnight, with a large 15-minute candle near 16:00 ET-1 signaling renewed interest.
• Turnover surged during late-night hours, suggesting increased speculative activity and potential trend divergence.
• RSI and MACD indicated overbought conditions earlier, followed by a pullback into oversold territory.
• A bullish engulfing pattern formed around 23:15 ET-1, indicating a possible short-term reversal attempt.

The Contentos/Tether (COSUSDT) pair opened at 0.003158 at 12:00 ET-1 and reached an intraday high of 0.003187 before closing at 0.003066 at 12:00 ET. Total 24-hour volume amounted to 196,274,820.1 with a notional turnover of $623,970. The pair displayed mixed momentum, with strong early bearish pressure followed by a consolidation phase.

Structure & Formations

Price action revealed a bearish trend during the early hours, with a sharp decline from 0.003187 to 0.003137 in under 2 hours. A key support level was identified at 0.00308, where the price found a temporary floor. A bullish engulfing pattern formed near 0.003083 at 23:15 ET-1, which could signal a potential short-term reversal. A doji near 0.003086 suggests indecision at this level. Resistance appears to be consolidating around 0.00315–0.00317, with a prior failed breakout observed earlier in the session.

Moving Averages and Momentum

The 20-period and 50-period moving averages on the 15-minute chart have remained in a bearish crossover, supporting the downward bias seen early in the session. The 50-period MA crossed below the 100-period MA on the daily chart, confirming a bearish trend for the broader timeframe. MACD turned bearish after a short-lived overbought phase in the early hours, while RSI dipped into oversold territory during the final hours, suggesting the pair may be nearing a temporary trough.

Volatility and Volume

Bollinger Bands widened significantly in the late evening and early morning, indicating heightened volatility. The price moved toward the lower band multiple times, especially after 23:00 ET-1, which aligns with increased bearish pressure. Notional turnover spiked overnight, particularly between 00:00 and 06:00 ET, with large-volume candles forming around 0.00315 and 0.00311. A divergence between rising volume and falling price during these periods suggests increased bearish conviction.

Fibonacci Retracements

Applying Fibonacci retracements to the key 15-minute swing from 0.003187 to 0.003087, the price has tested the 61.8% level at 0.003125. A potential bounce may occur if the price holds above this level. On the daily chart, the 38.2% retracement at 0.003143 acted as a psychological resistance point earlier in the session but failed to hold, indicating continued bearish pressure.

Backtest Hypothesis

A potential backtesting strategy involves entering long positions after a bullish engulfing pattern forms near key support levels (e.g., 0.00308), with a stop-loss placed below the most recent swing low. Exit triggers include a close below the 50-period moving average or a bearish MACD crossover. This approach aligns with the observed consolidation and potential reversal at 0.003083, offering a defined risk-reward profile for short-term traders.