BENQI/Tether (QIUSDT) Market Overview

• BENQI/Tether (QIUSDT) traded in a narrow range for most of the day, with a sharp late-night rally toward 0.00843.
• A bullish breakout pattern emerged near 0.00823, confirmed by volume and price momentum.
• Volatility surged in the early morning, with volume surging to 3.86 million at peak, signaling increased activity.
• RSI signaled overbought conditions by 0.0084, while MACD showed bullish divergence as price corrected.
• A 61.8% Fibonacci retracement level at 0.00819 coincided with a key support zone, indicating a potential consolidation area.

BENQI/Tether (QIUSDT) opened at 0.00801 on October 4, 2025, and closed at 0.00819 by 12:00 ET on October 5, 2025. The 24-hour high reached 0.00845, with a low of 0.00786. Total volume was 38.57 million, and notional turnover amounted to approximately $315,600. Price action saw a strong reversal in the early morning as buyers took control after a bearish decline.

Structure & Formations

Price action revealed a significant bullish reversal at 0.00823, marked by a strong white candle with high volume. A key support zone emerged around 0.00819—coinciding with a 61.8% Fibonacci retracement level—following a 0.00845–0.00786 swing. A bearish engulfing pattern appeared at the session’s low near 0.00786, but failed to hold as buying pressure emerged. A doji near 0.0084 suggested indecision among traders and potential profit-taking.

Moving Averages

On the 15-minute chart, the 20-period SMA crossed above the 50-period SMA in the early hours, signaling a short-term bullish bias. The daily 200-period SMA at ~0.00805 remained below the current price, indicating a breakout from a longer-term consolidation range. The 50-day SMA (~0.00796) and 100-day SMA (~0.00792) also supported a breakout to the upside.

MACD & RSI

The MACD turned bullish after 02:00 ET, with a clear divergence forming between rising price and the histogram. RSI reached overbought levels above 70 by 05:30 ET, then corrected back toward the 50–60 range, suggesting a healthy price bounce. The RSI low of ~30 at 0.00786 indicated a potential oversold bounce, though not a strong reversal signal.

Bollinger Bands

Volatility expanded significantly in the early hours, with price breaching the upper band at 0.00845. The 20-period Bollinger Bands showed a prior contraction near 0.00805, setting the stage for the breakout. Price has since tested the lower band (0.00805–0.00786), with the middle band (~0.00815) acting as a dynamic support/resistance level.

Volume & Turnover

Volume surged to ~3.86 million during the 06:30–06:45 ET session, coinciding with a sharp sell-off from 0.00835 to 0.00829. Turnover remained elevated in the 02:00–05:00 ET period, reflecting heavy institutional or algorithmic participation. A divergence between price and volume was noted near 0.00845, with volume easing despite the high, suggesting a potential topping process.

Fibonacci Retracements

Key Fibonacci levels for the 0.00845–0.00786 swing include 38.2% at 0.00819 (current support), 50% at 0.00815, and 61.8% at 0.00811. Price has bounced off the 38.2% level with strong conviction, suggesting a possible continuation higher, or a pullback to test the 50% level. For the daily chart, 0.00819–0.00845 appears as a new bullish swing, with 61.8% at ~0.00829 acting as a potential target for consolidation.

Backtest Hypothesis

A potential backtest strategy could involve entering long positions on a bullish breakout above 0.00823 with a stop-loss below the previous session’s low at 0.00809. Targets could be set at the 61.8% Fibonacci level at 0.00829 and then 0.0084, aligning with the upper Bollinger Band. Given the divergence in RSI and MACD, a trailing stop could be used to lock in profits. This approach would need to account for volatility and false breakouts, particularly during high-volume periods.