Market Overview: BENQI/Tether Daily Movement

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Sunday, Jan 18, 2026 2:19 am ET1min read
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Aime RobotAime Summary

- BENQI/QIUSDT price broke below 0.0035 support on 5-minute chart, forming bearish patterns with strong volume confirmation.

- RSI entered oversold territory (<30) by 05:30 ET, hinting at potential short-term rebound but requiring 0.00345 close confirmation.

- Price consolidated near 24-hour low with consistent turnover, testing 61.8% Fibonacci at 0.00348-0.00347 without holding.

- MACD remained negative while Bollinger Bands showed expanded volatility near lower band, reinforcing bearish bias despite temporary indecision.

Summary
• Price action broke below 0.0035 support on the 5-minute chart, forming bearish patterns.
• RSI entered oversold territory, suggesting possible short-term rebound.
• Turnover remained steady, with no clear divergence from price.

Market Overview


The BENQI/Tether (QIUSDT) pair opened at 0.00351 at 12:00 ET–1 and traded between 0.00353 and 0.00341 over the next 24 hours, closing at 0.00343 at 12:00 ET. Total volume reached 6,194,946.0 with a notional turnover of 21,581.83795.

Structure & Formations


Price tested key support at 0.0035 multiple times, eventually breaking below it by the early hours of 18 January. A bearish engulfing pattern emerged around 0.00351, reinforcing the downward bias. A doji formed at 0.00346, signaling indecision but failed to hold.

Moving Averages


On the 5-minute chart, price closed below both the 20- and 50-period moving averages, suggesting a near-term bearish tilt. The daily chart shows no clear dominance between 50/100/200 MA, but the short-term momentum is clearly bearish.

MACD & RSI


MACD remained negative, confirming the bearish trend. RSI dropped into oversold territory (<30) by 05:30 ET, hinting at a possible short-term bounce. However, this needs confirmation from a closing candle above 0.00345.

Bollinger Bands


Volatility expanded as price traded near the lower band of the Bollinger Bands for much of the session, especially after 21:00 ET. The recent consolidation suggests a potential reversal, but it remains under pressure from the 20SMA.

Volume & Turnover


Volume picked up during the breakdown under 0.0035, especially around 0.00348–0.00346. Turnover remained consistent with volume, showing no signs of divergence. The bearish move was confirmed by strong volume, indicating conviction.

Fibonacci Retracements


On the 5-minute chart, price retested the 61.8% retracement level at 0.00348–0.00347, failing to hold. The next key level to watch is the 38.2% at 0.00345.

Outlook


Price appears to be consolidating near the 24-hour low with RSI in oversold territory, suggesting potential for a short-covering rally. However, without a decisive close above 0.00345, the bearish trend may continue. Investors should remain cautious of further downside risk to 0.00342 if the 38.2% level breaks.