Market Overview for BENQI/Tether (QIUSDT)

Summary
• Price action consolidates between 0.00305 and 0.00315 with a bullish bias.
• Momentum strengthens in late hours, supported by rising volume and RSI above 50.
• Bollinger Bands widen as volatility rises, with price near the upper band.

24-Hour Summary

BENQI/Tether (QIUSDT) opened at 0.00305 on 2025-12-24 12:00 ET, reached a high of 0.00315, touched a low of 0.00304, and closed at 0.00313 on 2025-12-25 12:00 ET. Total volume was 10,580,000.0, and turnover was 33,532.5.

Price Structure and Candlestick Patterns

Price action on the 5-minute chart shows a bullish consolidation between key support at 0.00305 and resistance at 0.00315. A series of higher highs and lower lows from 22:45 ET onward suggests a rising wedge formation, with price testing the upper boundary on multiple occasions. A strong green candle at 02:15 ET confirmed the breakout attempt, forming a bullish engulfing pattern. The price action appears to respect the 0.00305 level as strong support and may continue to test the 0.00314–0.00315 range as resistance.

Moving Averages and Momentum

On the 5-minute chart, the 20-period and 50-period moving averages show a bullish crossover and divergence, with price above the 50 SMA. On the daily chart, the 50/100/200 SMA alignment remains neutral, with price hovering above the 50 SMA but below the 200 SMA. This suggests a potential transition into a medium-term bullish phase.

MACD shows a positive divergence, with the histogram expanding in the bullish territory after 01:00 ET. The RSI has moved above 50 and reached as high as 63, indicating growing momentum but not yet overbought. Price may consolidate within the 0.00308–0.00312 range before a breakout.

Volatility and Volume Dynamics

Bollinger Bands have expanded in the past 6 hours, reflecting increased volatility. Price has moved closer to the upper band, suggesting a potential reversal or continuation depending on volume.

Volume spiked significantly during the 22:45–03:15 ET window, confirming the bullish breakout attempt. Notional turnover increased in line with volume, indicating strong conviction. However, a divergence in price and turnover was observed at 04:45 ET, which could suggest some profit-taking or caution ahead.

Key Fibonacci Levels

Fibonacci retracements for the 5-minute chart suggest key levels at 0.00307 (38.2%) and 0.00310 (61.8%) as potential pullback zones. For the daily chart, the 61.8% level is near 0.00313, which aligns with the current price and could offer short-term resistance.

In the next 24 hours, QIUSDT appears poised to test 0.00315 as a key resistance, with the potential to break out if volume remains strong. Investors should remain cautious of short-term volatility and possible pullbacks near 0.00310.