Summary
• Price surged from 0.00346 to 0.00359, forming a bullish breakout above 0.00355 resistance.
• Strong volume expansion occurred in the 22:00–04:00 ET window, confirming the upward move.
• RSI reached overbought territory near 75, suggesting potential short-term pullback.
• Bollinger Bands widened during the rally, indicating rising volatility.
Price and Volume Performance
BENQI/Tether (QIUSDT) opened at 0.00346 on 2026-01-13, reached a high of 0.0036, dipped to a low of 0.00344, and closed at 0.00356 by 12:00 ET on 2026-01-14. Total volume for the 24-hour period was 23.4 million, with notional turnover at $83,520.
Structure & Moving Averages
The price broke out of a tight consolidation range on 5-minute charts, with a bullish engulfing pattern forming at the 22:00 ET timepoint. The 20-period and 50-period moving averages on the 5-minute chart aligned in a bullish setup, with price above both. On daily timeframes, the 50- and 200-period moving averages appear to be converging, supporting a potential long-term uptrend.
MACD, RSI, and Bollinger Bands
The MACD showed a strong positive crossover in the late night into early morning hours, reinforcing the bullish breakout. RSI pushed into overbought territory (near 75), suggesting a possible near-term correction. Bollinger Bands expanded significantly during the rally, reflecting increased volatility, with price closing near the upper band.
Volume and Turnover Analysis
Volume spiked during the breakout, especially from 22:00 to 04:00 ET, confirming the strength of the move. Notional turnover increased in line with volume, with no notable divergence. The largest single 5-minute candle (at 22:00 ET) accounted for over 16% of total volume, suggesting institutional or strong retail participation.
Fibonacci Retracements
Applying Fibonacci to the recent 5-minute swing from 0.00346 to 0.0036, price found initial support at the 61.8% level (around 0.00354) and bounced. On the daily chart, the 38.2% retracement level from the prior bearish leg appears to now act as a key support level.
BENQI/Tether appears to be entering a period of higher volatility and potential trend continuation. A pullback toward the 0.00354–0.00355 level could confirm short-term support. Investors should monitor for a breakdown below this range or a rejection, which could signal further direction.
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