Market Overview for BENQI/Tether (QIUSDT)

Summary
• Price action broke above 0.00312 after consolidating within a tight range, suggesting bullish momentum.
• Volume surged on the 0.00314 level, confirming its significance as a potential resistance-turned-support.
• RSI signaled overbought conditions late in the session, raising caution about near-term pullbacks.
• Bollinger Bands expanded mid-session, reflecting increased volatility amid a key breakout attempt.
• A bullish engulfing pattern emerged post-breakout, supporting a short-term upward bias.

The QIUSDT pair opened at 0.00311 on 2025-12-19 at 12:00 ET, reached a high of 0.00317, and closed at 0.00312 at 12:00 ET on 2025-12-20. The low was 0.00305. Total volume was 23,710,150.0 and turnover (amount) reached 1,139. The session witnessed a gradual accumulation phase followed by a decisive breakout above key resistance.

Structure & Formations

A bullish engulfing pattern formed as the price closed above the 0.00312 level, suggesting short-term bullish bias. A cluster of rejection candles at the 0.00311–0.00312 range confirmed it as a strong support zone, now potentially serving as a magnet for buying interest.

Technical Indicators

MACD showed a positive crossover with a rising histogram, reinforcing bullish momentum. RSI crested into overbought territory near 70, suggesting caution for traders expecting further gains without a pullback.

Volatility and Volume

Volatility expanded mid-session as the price broke above the upper Bollinger Band, indicating a shift in market sentiment. The highest volume occurred at 0.00314, suggesting a key level where accumulation may be taking place.

Patterns and Fibonacci

The breakout occurred near a 61.8% Fibonacci retracement of the prior 5-minute downswing, adding technical significance. On the daily chart, the pair appears to be approaching a 50-period moving average, which could act as a dynamic support.

The market appears to have shifted into a more bullish phase, with confirmation of key support and accumulation at 0.00314. However, the overbought RSI and thin candle bodies later in the session may signal caution. A pullback toward 0.00311–0.00312 could test the sustainability of the breakout. Investors should remain alert for a possible retest of these levels and divergence in volume to avoid false breakouts.