ChainGPT/Tether (CGPTUSDT) Market Overview for 2025-10-03

• Price rose to a 24-hour high of $0.0855 before consolidating near $0.084.
• Momentum remained positive but shows early signs of exhaustion.
• Volume spiked during the breakout but declined in afternoon trading.
• Price formed multiple bullish signals, including a high-volume bullish engulfing pattern.
• A key resistance at $0.0847 and support at $0.0835 defined the session’s range.

ChainGPT/Tether (CGPTUSDT) opened at $0.0826 on 2025-10-02 at 12:00 ET and closed at $0.0855 as of 12:00 ET on 2025-10-03, reaching a high of $0.0855 and a low of $0.0826 over the 24-hour period. Total volume was 13,829,660.4, with a notional turnover of approximately $1,151,823.20.

Structure & Formations

Price action over the 24 hours formed a distinct bullish pattern, particularly around 2025-10-03 at 16:00 ET, where a large bullish engulfing candle emerged following a consolidation phase. This candle, with a volume of 211,368.4, confirmed breakout momentum. A doji appeared later in the morning at $0.0835, signaling a potential pause. Key support was identified at $0.0835 and $0.0831, while resistance levels formed at $0.0847 and $0.0855.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed in the morning, forming a golden cross and reinforcing the bullish bias. For the daily chart, the 50-period and 200-period moving averages showed a bullish alignment, with the price remaining above the 200-period average. The 100-period average acted as a short-term pivot point.

MACD & RSI

The MACD turned positive during the afternoon, with a bullish crossover occurring just before the breakout. RSI remained in overbought territory for a short period after the 16:00 ET candle, hitting 70 before retreating, suggesting potential exhaustion. However, a quick return to neutral RSI values indicates a strong foundation for further consolidation or a potential retest of key resistance.

Bollinger Bands

Volatility expanded during the breakout phase, with the Bollinger Bands widening significantly. Price moved above the upper band briefly before retreating into the upper third of the bands. This indicates strong bullish pressure but also some profit-taking after the surge. A narrowing of the bands in the early morning suggested a pre-breakout consolidation phase.

Volume & Turnover

Volume surged during the breakout, with the 16:00 ET candle contributing over 211,000 units of volume, nearly matching the previous 15-minute candle’s volume. The notional turnover spiked in tandem, confirming the strength of the move. However, volume declined after the breakout, suggesting a possible pause in momentum.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from $0.0826 to $0.0855, key retracement levels are at $0.0842 (38.2%), $0.0839 (50%), and $0.0836 (61.8%). These levels corresponded to areas of consolidation and minor pullbacks. The 61.8% level held as support before a resumption in the upward move.

Backtest Hypothesis

A potential backtesting strategy for this asset could be based on the golden cross on the 15-minute chart, combined with a bullish engulfing pattern and high volume. This strategy would involve entering a long position when the 20-period MA crosses above the 50-period MA, with confirmation via a high-volume bullish candle. Stops could be placed just below key Fibonacci support levels, such as $0.0836, with targets set at the next resistance at $0.0847 and ultimately $0.0855. The use of RSI divergence as an exit signal could improve risk management, particularly if overbought conditions are sustained for more than two candles.

The market may continue to consolidate within the $0.0836–$0.0847 range in the next 24 hours before attempting a retest of the $0.0855 high. However, investors should remain cautious for any signs of bearish reversal patterns or a drop in volume, which could signal the end of the current bullish phase.