Conflux/Tether (CFXUSDT) Market Overview – 2025-10-13

• Price surged above 0.1150 for the first time in 24 hours, with a 1.5% gain near the session close.
• Volume spiked in the late New York session, confirming the bullish breakout attempt.
• RSI moved into overbought territory, suggesting short-term exhaustion or consolidation.
• Bollinger Bands expanded in the final hours, indicating rising volatility and a potential range extension.
• A bullish engulfing pattern formed near 0.1140–0.1146, potentially signaling a reversal.

The Conflux/Tether (CFXUSDT) pair opened at 0.1097 on 2025-10-12 at 12:00 ET and closed at 0.1179 on 2025-10-13 at 12:00 ET, reaching a high of 0.1198 and a low of 0.1096. The 24-hour volume amounted to 66,117,910 USDT, with total turnover at approximately $7,503,071. The price action reflected a strong bullish bias in the latter half of the session, with key resistance levels at 0.1165, 0.1180, and 0.1195 becoming increasingly relevant.

On the 15-minute chart, the 20- and 50-period moving averages are converging in a bullish fashion, with the price consistently above both. This suggests short-term buyers are in control. The 50-period MA is approaching the 0.1142–0.1146 support zone, which recently acted as a reversal area for a bullish engulfing pattern. On the daily chart, the 50-, 100-, and 200-period MAs are in a more neutral alignment, though the price remains above the 200-period MA, suggesting an ongoing uptrend in place.

The MACD crossed into positive territory during the late New York session and remains in bullish momentum. The histogram expanded after 21:00 ET as volume increased, confirming the bullish breakout. However, the RSI reached overbought levels above 70 in the final two hours, suggesting a potential pullback may be due in the near term. Traders should monitor the 0.1150–0.1160 zone for signs of exhaustion or continuation.

Bollinger Bands expanded significantly between 03:00 and 07:00 ET as volatility surged, with the price staying near the upper band for several hours. This suggests the market is in a high-volatility breakout phase, with the upper band acting as dynamic resistance. Fibonacci retracement levels from the 0.1096–0.1198 swing show 0.1137 (38.2%) and 0.1162 (61.8%) as potential support and pivot zones. These levels may offer strategic entries or exits in the coming 24 hours.

The backtest hypothesis centers on identifying and acting on “Bullish Engulfing” and “Morning Star” candlestick patterns on both daily and 15-minute charts. Given the recent formation of a Bullish Engulfing pattern between 0.1140–0.1146 on the 15-minute chart, which preceded a 0.1179 high, the strategy would involve entering long at or near the pattern's close and holding for a 3-day horizon. While the automatic detection of such patterns returned an error, the visual presence of the pattern on 2025-10-13 supports the need to retry the query using provider-specific codes such as “candlestick_bullish_engulfing_daily” and “candlestick_morning_star_daily.” A successful backtest would help determine if such patterns are reliable for trend continuation on this pair. If manual dates are needed, the 2025-10-13 pattern serves as a strong candidate for testing.