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

• BENQI/Tether traded in a tight range with a low of 0.00802 and high of 0.00852.
• Momentum slowed late in the session, with RSI entering oversold territory below 30.
• Volume surged at key support levels before a final 1.5% decline into the close.
• Bollinger Bands constricted mid-session, followed by a breakout attempt that failed.
• On-balance volume trends showed divergence with price during the final 3 hours.

BENQI/Tether (QIUSDT) opened at 0.00829 on 2025-10-03 12:00 ET, reached a high of 0.00852, a low of 0.00802, and closed at 0.00806 on 2025-10-04 12:00 ET. Total volume amounted to 91,843,123.68 QIUSDT, with a notional turnover of $744,526.95. Price action displayed a bearish bias, especially after a failed breakout from the 0.00835–0.00845 range, which coincided with a volume spike. A key support level appears to be forming at 0.00802–0.00808, where price consolidated before closing.

The 20-period and 50-period moving averages on the 15-minute chart crossed below key swing levels, suggesting bearish momentum. The 50-period moving average remains above the 200-day level, indicating longer-term bearish pressure. MACD lines flattened into a bearish crossover, while RSI dipped below 30, suggesting oversold conditions, though no strong reversal signals materialized. Bollinger Bands showed a significant contraction during the 4–5 AM ET period, followed by a false breakout to the upside that failed to sustain.

Volume patterns were mixed, with surges observed at key support levels, such as 0.00810 and 0.00805. Notional turnover aligned with price during the initial bearish move but diverged during the final 3 hours, suggesting possible accumulation at lower levels. Fibonacci retracement levels from the 0.00802–0.00852 swing suggest potential support at 0.00817 (38.2%) and 0.00827 (61.8%), which may provide short-term buying interest if price stabilizes.