ChainGPT/Tether (CGPTUSDT) Market Overview: 2025-09-24 12:00 ET–2025-09-25 12:00 ET

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• Price fell from 0.0842 to 0.0790 amid expanding bearish momentum and declining RSI.
• Volatility rose significantly, with Bollinger Bands widening and key support levels tested.
• Volume surged in the final 6 hours, but turnover failed to confirm bearish breakdowns.
• A doji formed at 0.0789, signaling potential reversal, though 0.0795 remains immediate support.
• Fibonacci 61.8% at 0.0789 may trigger short-term bounces but risks being broken further.

ChainGPT/Tether (CGPTUSDT) opened at 0.0839 and fell to 0.0790 by 12:00 ET, with a high of 0.0842 and a low of 0.0771. Total volume reached 9.46 million, while turnover hit $757,518. The 24-hour candle showed a long bearish wick and a strong rejection of the 0.0801–0.0839 range.

Structure & Formations

Price action on the 15-minute chart revealed a bearish continuation pattern after a failed bullish breakout in early hours. A key support at 0.0795 was tested three times and partially rejected. A bearish engulfing pattern appeared at 0.0801–0.0798, followed by a doji at 0.0789, which may signal exhaustion in the bearish leg. Resistance levels at 0.0803 and 0.0809 are critical for short-term reversals.

Moving Averages

Short-term 20-period and 50-period EMA on the 15-minute chart showed a steep bearish divergence. The 50-period EMA crossed below the 20-period in mid-morning, confirming a bearish bias. On the daily chart, the 50-EMA at 0.0825 and 200-EMA at 0.0831 remain above price, suggesting a stronger bearish trend may extend unless a strong reversal occurs.

MACD & RSI

MACD turned sharply bearish after 20:00 ET, with the histogram widening to -0.0004, confirming bearish momentum. RSI dropped to 29, entering oversold territory, but failed to generate a meaningful rebound. This divergence between RSI and price suggests further downside is possible unless buyers re-enter at 0.0785 or below.

Bollinger Bands

Bollinger Bands expanded significantly, reflecting rising volatility. Price moved below the 2σ lower band at 0.0790 and tested the lower boundary twice. A contraction may follow if volume subsides and price stabilizes near 0.0785–0.0795. However, continued volume above 100k per 15 minutes may force a breakdown below 0.0780.

Volume & Turnover

Volume spiked sharply after 02:00 ET, reaching 381,669 at 12:00 ET, yet turnover failed to confirm a bearish breakout. Price fell from 0.0823 to 0.0790 during a period of high volume but low notional value, indicating a distribution pattern. This divergence suggests weak conviction from bears, but caution is warranted until 0.0795 is firmly retested.

Fibonacci Retracements

A key retracement level of 61.8% at 0.0789 was reached and briefly held, but price closed below it. A 38.2% retracement at 0.0808 may act as a short-term resistance if buyers re-enter. The 15-minute swing from 0.0842 to 0.0790 provides a clear Fibonacci framework for possible bounces or further breakdowns.

Backtest Hypothesis

Given the bearish engulfing and doji patterns, along with RSI in oversold territory and expanding Bollinger Bands, a potential backtesting strategy could focus on entering short positions on a break below 0.0795 with a stop-loss above 0.0803. A target of 0.0775–0.0780 aligns with the 61.8% retracement and recent volatility levels. This strategy may be tested using a 15-minute timeframe and volume-weighted average price (VWAP) as an exit trigger.