Market Overview for BENQI/Tether (QIUSDT) on 2025-09-19

• BENQI/Tether (QIUSDT) traded in a volatile 24-hour range between $0.00774 and $0.00920.
• Price surged over 17% during the night but reversed sharply on high-volume bearish pressure.
• Key support tested at $0.00775–0.00785, with RSI signaling oversold conditions at the session low.
• Bollinger Bands show expanding volatility during morning hours and a sharp contraction in the afternoon.
• Volume spiked during the reversal phase, suggesting strong short-term selling pressure.

BENQI/Tether (QIUSDT) opened at $0.00783 on 2025-09-18 at 12:00 ET, surged to a high of $0.00920, and closed at $0.00782 at 12:00 ET on 2025-09-19. The pair experienced sharp intraday volatility, with a total volume of 235,234,772.0 and notional turnover amounting to approximately $1,840,524 (calculated from price * volume). A large bearish reversal pattern emerged after a mid-night bullish breakout.

Structure & Formations

The pair broke out above key resistance at $0.00850–0.00860 in the early hours, but this was short-lived. A large bearish candle formed at $0.00845–0.00816 around 03:30–04:00 ET, followed by a sequence of bearish hammers and gravestones as selling pressure intensified. A potential support zone between $0.00780 and $0.00775 was retested multiple times, with rejection forming a possible base for near-term bounce.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed below key swing highs during the reversal phase, signaling bearish momentum. The 50/100/200 daily moving averages are all bearishly aligned with QIUSDT trading below all three, suggesting downward bias on a longer timeframe.

MACD & RSI

The MACD indicator showed a bearish crossover during the morning hours and remained bearish for the remainder of the session. The RSI indicator hit oversold territory below 30 at the close, which could indicate near-term potential for a rebound. However, the divergence between bullish RSI and bearish price action suggests caution is warranted.

Bollinger Bands

Bollinger Bands showed a strong expansion during the early morning bullish phase, reaching a width of ~0.00075. After the reversal, volatility contracted sharply, with the price consolidating near the lower band throughout the afternoon and evening. This pattern may indicate a period of consolidation ahead of the next directional move.

Volume & Turnover

Volume surged during the sharp reversal phase, with the largest 15-minute volume spike at ~109,857,600 units at 03:30 ET. Notional turnover increased in line with price movement, confirming bearish momentum during the sell-off. A divergence between rising volume and falling price suggests strong short-term pressure, but not necessarily exhaustion.

Fibonacci Retracements

On the 15-minute chart, the $0.00782 close aligns with the 78.6% retracement of the morning high. On the daily timeframe, the 61.8% retracement of the recent high aligns with $0.00815, which could act as a potential near-term resistance if the price begins to rebound.

Backtest Hypothesis

Given the sharp bearish reversal and oversold RSI reading at the close, a backtesting strategy could involve a long bias on a break above $0.00815 with a stop loss at $0.00775. The use of Fibonacci levels and RSI divergence provides a structured entry point with risk management in place. This aligns with the observed consolidation and technical signals, suggesting a potential short-term reversal opportunity.