Conflux/Tether USDt (CFXUSDT) Market Overview

• Price climbed from $0.1699 to $0.1764, with a 24-hour high of $0.177 and a low of $0.17.
• Strong accumulation seen in the $0.1720–$0.1740 range; RSI reached overbought levels multiple times.
• Volatility increased late afternoon; Bollinger Bands widened as price broke through resistance.
• Turnover surged during the afternoon and early evening, confirming bullish momentum.
• A bullish engulfing pattern formed at $0.1718 and a potential double bottom at $0.1703 provided key support.

At 12:00 ET on 2025-09-10, Conflux/Tether USDt (CFXUSDT) opened at $0.1699 after closing at $0.1706 the previous day. The price reached a 24-hour high of $0.177 and a low of $0.17, before closing at $0.1764. Total volume amounted to 10.89 million CFX, and total notional turnover was $1.89 million, reflecting strong liquidity and investor interest in the pair.

Structure & Formations

Price action shows a clear bullish bias throughout the day, especially after 19:00 ET, where a strong breakout above $0.1720 was confirmed by increased volume and a bullish engulfing pattern. A double bottom formed around $0.1703 acted as a psychological floor earlier in the day. A notable bearish doji appeared near $0.1725, signaling short-term indecision, but the price quickly overcame it. Strong support is now seen at $0.1718–0.1703, with resistance forming at $0.1760–0.177.

Moving Averages

On the 15-minute chart, the 20 EMA and 50 EMA crossed into a bullish alignment around $0.1715, with the price staying above both. On the daily chart, the 50 SMA at $0.1715 and 200 SMA at $0.1690 are now aligned in a bullish bias, suggesting a continuation of the upward trend. The 100 SMA at $0.1708 provided immediate support earlier in the session.

MACD & RSI

The MACD turned bullish in the afternoon, crossing above the signal line at $0.1720 with expanding histogram bars. The RSI reached overbought territory at 70–75 multiple times but remained elevated, suggesting strong momentum without immediate signs of exhaustion. A potential bearish divergence appeared near $0.1745, but it was quickly invalidated by a strong breakout.

Bollinger Bands

Volatility increased significantly as price broke above the upper Bollinger Band, reaching $0.177, a level far above the 20-period mean. This indicates rising market participation and optimism. The bands widened during the breakout, suggesting a potential continuation of the trend. The current price remains above the 20-period moving average, confirming the bullish bias.

Volume & Turnover

Volume surged during the breakout phase, with the 19:00–20:30 ET period witnessing the highest activity. Notional turnover also spiked during this time, confirming the strength of the move. A minor divergence appeared in the early evening when volume dipped while the RSI remained high, but it was quickly resolved as volume picked up again. The overall volume profile supports a strong continuation scenario.

Fibonacci Retracements

Applying Fibonacci to the $0.1703–$0.177 swing, key levels to watch include 38.2% at $0.1753 and 61.8% at $0.1741. The price is now testing the 38.2% level, suggesting potential resistance ahead. On the daily chart, the 61.8% retrace of a longer-term bull move is now acting as strong support at $0.1708, which held multiple times over the 24-hour period.

Backtest Hypothesis

A potential backtesting strategy could be built around the 20/50 EMA crossover on the 15-minute chart, combined with a bullish RSI divergence and confirmation from Bollinger Band breakouts. Entries could be triggered when the price breaks above the upper band, with a stop loss placed slightly below the last significant swing low. This setup aligns with the observed patterns in today’s data, particularly the breakout at $0.1720 and subsequent momentum. Given the current environment, this strategy could be backtested for consistency over multiple bullish cycles in CFX/USDT.