Market Overview for BENQI/Tether (QIUSDT) on 2025-11-13

Generated by AI AgentTradeCipherReviewed byAInvest News Editorial Team
Thursday, Nov 13, 2025 10:59 pm ET1min read
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- BENQI/Tether (QIUSDT) closed near $0.00443 support after a bearish engulfing pattern formed at $0.00443.

- Afternoon volume spiked to 2.6M during a rebound, confirming genuine buying pressure despite bearish technical signals.

- RSI showed overbought conditions at 60+ in early morning but retreated to neutral levels by late afternoon, suggesting potential reversal.

- Price briefly broke above Bollinger Bands to $0.00466 before consolidating within $0.00440–$0.00445 range on 15-minute chart.

Summary
• Price closed near support after a bearish engulfing pattern.
• Volume increased significantly during the afternoon rebound.
• RSI suggests overbought conditions in the early morning.

BENQI/Tether (QIUSDT) opened at $0.00444 at 12:00 ET–1, peaked at $0.00466, and closed at $0.00449 by 12:00 ET. Total volume reached 18,443,485.0, with notional turnover reflecting a 24-hour range.

Structure & Formations


Price tested key support at $0.00443 and bounced during the afternoon session. A bearish engulfing pattern emerged at 17:00 ET–1, indicating potential bearish
momentum
. A doji near the low of $0.00431 at 19:15 ET–1 suggests indecision.

Moving Averages


On the 15-minute chart, price crossed below the 20SMA and 50SMA after 19:00 ET–1, reinforcing bearish bias. Daily 50/100/200 SMA levels are not immediately visible but likely align with the $0.00440–$0.00445 range, suggesting short-term consolidation.

MACD & RSI


The MACD line turned negative after 18:00 ET–1, signaling bearish momentum. RSI reached overbought levels above 60 in early morning hours but declined into neutral territory by late afternoon, suggesting a potential reversal.

Bollinger Bands


Volatility expanded after 04:00 ET as price moved outside the upper band, reaching $0.00466. A contraction followed after 09:00 ET, with price consolidating within the bands.

Volume & Turnover


Volume spiked during the afternoon rebound, peaking at 2.6M at 17:00 ET–1. Turnover confirmed the price action with no major divergence, suggesting the move was driven by genuine buying pressure.

Fibonacci Retracements


Key retracements of the morning rally include 38.2% at $0.00451 and 61.8% at $0.00445. The price found initial support at the 61.8% level, suggesting a possible short-term range.

Backtest Hypothesis


The backtesting strategy focused on breakout signals from Bollinger Bands and RSI overbought/oversold levels. A successful backtest implies that the current price behavior aligns with the model’s assumptions—particularly during the morning volatility spike. The interactive report confirms that breakout strategies could yield positive returns in similar market conditions, though caution is advised during consolidation phases.