Conflux/Tether USDt Market Overview

• Price surged from 0.1751 to 0.1870, forming a bullish breakout before consolidating.
• Volume spiked to 10.6M units during the 03:30 ET rally, confirming bullish momentum.
• RSI overbought at ~75 suggests potential pullback, but price remains above key moving averages.
• Bollinger Bands widened mid-session, signaling increased volatility and trend strength.
• A doji formed at 05:45 ET, hinting at indecision after the sharp rally.

Price and Volume Summary

Conflux/Tether USDt (CFXUSDT) opened at 0.1751 on 2025-09-10 at 12:00 ET, surged to a high of 0.1870, and closed at 0.1791 on 2025-09-11 at 12:00 ET. The pair experienced a 24-hour total volume of 94.8 million CFX tokens and a notional turnover of approximately $16.8 million (based on closing prices).

Structure & Formations

The price of CFXUSDT formed a bullish breakout above a prior resistance level of 0.1770, pushing higher through 0.1800 and reaching a daily high of 0.1870. A notable 15-minute doji formed at 05:45 ET, signaling a pause in momentum. Additionally, a bearish engulfing pattern appeared at 11:15 ET as prices retreated from the 0.1819 high to 0.1791, indicating short-term bearish pressure.

Moving Averages and Momentum

On the 15-minute chart, the 20-period and 50-period moving averages were aligned in a bullish configuration during the morning and early afternoon, supporting the rally. The 50-period MA crossed above the 20-period MA near 0.1830, reinforcing the upward bias. The RSI reached overbought territory at 75, suggesting a potential pullback, though price action continued to outperform the indicator. MACD remained positive with a narrowing histogram, indicating that while momentum is still bullish, it is starting to moderate.

Volatility and Fibonacci Retracements

Bollinger Bands expanded sharply during the 03:30–04:00 ET rally, indicating a period of high volatility. The price closed near the upper band, reinforcing the strength of the trend. Applying Fibonacci retracements to the key 0.1751–0.1870 swing, the 61.8% level at 0.1829 and the 38.2% level at 0.1800 appear to be important psychological levels for near-term price action.

Backtest Hypothesis

For a potential backtesting strategy, a simple breakout system could be applied to the 15-minute chart. A long entry could be triggered when the price closes above the 0.1770 level (a key psychological resistance from earlier in the day), with a stop-loss placed below 0.1749 (the lowest level during the day’s consolidation). A take-profit target could be set at the 61.8% Fibonacci level of 0.1829, with an exit on a close below the 50-period MA as a dynamic trailing stop. Given the morning volume surge and strong momentum, this setup would have captured the bulk of the rally while managing risk effectively.