Market Overview for BENQI/Tether (QIUSDT) — 24-Hour Analysis

• QIUSDT surged 38.8% in 24 hours, peaking at $0.01176 before retracing to close near $0.00971.
• Sharp volume spike during the bullish breakout confirms strong conviction in the upward move.
• RSI overbought levels and divergences suggest potential pullback, while Bollinger Bands show expanding volatility.
• A key support appears to form around $0.00940–$0.00950, with Fibonacci levels suggesting potential targets on the downside.
• Momentum remains mixed: early bullish thrust is fading, and bearish pressure has emerged in the past 6–8 hours.

At 12:00 ET–1 on 2025-09-19, QIUSDT traded at $0.00780. By 12:00 ET on 2025-09-20, the pair surged to a high of $0.01176, fell to a low of $0.00943, and closed at $0.00971. Total volume across the 24-hour period was 946,756,186.0, while notional turnover was $9,071,336. This sharp move reflects strong short-term speculative interest.

Structure & Formations

The 24-hour chart for QIUSDT is marked by a strong bullish impulse that began around 14:00 ET on 2025-09-19, where price surged from a consolidation range of $0.00780 to a high of $0.01176. Notable formations include a bullish engulfing pattern around 14:00–14:30 ET and a bearish harami near the close. These suggest both aggressive buying and tentative bearish reversal signals. The key intraday resistance is near $0.01080, where price stalled on multiple occasions, while support appears at $0.00940–$0.00950.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages indicate bullish momentum, with price consistently above both throughout the afternoon and evening. On the daily chart, the 50-period MA is at $0.00801, the 100-period at $0.00788, and the 200-period at $0.00779. Price is currently above all three, suggesting a medium-term bullish bias. The 50/200 MA crossover remains positive, reinforcing the upward trend.

MACD & RSI

The MACD for QIUSDT turned positive during the afternoon, with a histogram expanding during the strongest part of the rally. The 9-period signal line crossed above the MACD line, confirming bullish momentum. However, the RSI has been in overbought territory for much of the day, reaching a peak of 78 before declining toward 60. A bearish divergence has formed between RSI and price in the past three hours, suggesting weakening upward momentum and increasing bearish risk.

Bollinger Bands

Bollinger Bands have expanded significantly as the rally progressed, indicating growing volatility. At the time of the peak at $0.01176, price was well above the upper band, a sign of strong speculative buying. However, in the past hour, price has fallen back into the middle band, suggesting volatility is easing. A retest of the lower band could confirm a short-term bearish shift, but this would depend on volume and order flow at critical levels.

Volume & Turnover

Volume surged during the breakout, peaking at over 234 million at 14:00 ET with the high of $0.01176. This confirms strong conviction in the upward move. However, volume has since declined sharply, with the most recent hour showing only 22 million volume, a drop of over 80%. Notional turnover mirrored this trend, with a large spike during the peak and a sharp drop as price pulled back. This divergence may indicate exhaustion in the bullish move.

Fibonacci Retracements

Applying Fibonacci to the key rally from $0.00780 to $0.01176, the 38.2% retracement level is at $0.01022, the 50% level at $0.00978, and the 61.8% level at $0.00934. Price has retested the 61.8% level twice in the past 24 hours, suggesting a potential near-term floor. A break below $0.00934 could trigger a retest of the $0.00870–$0.00880 zone, where previous support has held.

Backtest Hypothesis

A potential backtesting strategy could involve a breakout system using the 20-period and 50-period moving averages as filters. A long entry could be triggered when price closes above the 20-period MA with a volume spike of at least 3x the average, confirmed by a bullish engulfing pattern or a bullish MACD crossover. Stop-loss placement could be at the recent swing low, with take-profit targets at key Fibonacci levels. Given the recent divergence in RSI and the bearish harami, a short entry may also be considered upon a break below the 50-period MA with increasing volume, aiming for the next Fibonacci retracement level. This approach would aim to capture both the bullish impulse and the early bearish reversal signals.