Market Overview for BENQI/Tether USDt (QIUSDT) on 2025-09-10

• BENQI/Tether USDt (QIUSDT) traded in a tight range before surging to a 24-hour high of $0.00758 near 15:45 ET.
• Price found initial resistance at $0.00734 and support at $0.00722, with a bullish breakout after 13:30 ET.
• Strong positive divergence in volume and price confirmed the breakout, with turnover spiking in the final 6 hours.
• RSI entered overbought territory near 80, suggesting caution, while MACD remained bullish.
• Bollinger Bands showed a slight expansion as volatility increased, aligning with the late rally.

The QIUSDT pair opened at $0.00722 on 2025-09-09 at 12:00 ET and reached a 24-hour high of $0.00758 before closing at $0.0075 on 2025-09-10 at 12:00 ET. The low during the period was $0.00715. Total volume traded was 22,773,681.00, with a notional turnover of $161.29 (USD). Price displayed a breakout pattern after consolidating between key support and resistance levels.

Structure & Formations

The 24-hour period saw a consolidation phase until a breakout above the $0.00734 resistance level around 13:30 ET. Price formed a series of higher highs and higher lows, indicating a bullish bias. A notable bullish engulfing pattern appeared at the breakout, confirming the shift in momentum. The support at $0.00722 held twice before the rally, suggesting it could serve as a short-term floor. No major bearish reversal patterns were observed in the 15-minute timeframe.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages trended upward in the last 6 hours, with price trading above both indicators. This suggests short-term bullish momentum. On the daily chart, the 50-period MA was at $0.00730, with the 100-period at $0.00734 and the 200-period at $0.00726, indicating a potential long-term support zone forming around $0.00726–$0.00730.

MACD & RSI

The MACD crossed above the signal line around 13:00 ET, confirming the bullish breakout. Positive histogram growth followed, indicating growing momentum. The RSI reached 80 near 15:45 ET, signaling overbought conditions. While this may indicate a short-term pause or consolidation, the bullish momentum remains intact unless a sharp reversal occurs. RSI and MACD appear to be in sync, supporting a continuation of the current upward trend.

Bollinger Bands

Bollinger Bands showed a contraction during the morning hours, followed by a clear expansion as volatility increased post-13:00 ET. Price traded above the upper band during the final 4 hours, suggesting elevated volatility and a strong bullish move. This expansion could indicate a continuation of the trend, although a retest of the lower band near $0.00722 could trigger a pullback.

Volume & Turnover

Volume surged in the final 6 hours, with the most active period between 14:00 and 16:00 ET. This increase in volume aligned with the price breakout and confirmed the strength of the bullish move. Notional turnover reached a peak of $0.00758 near 15:45 ET, indicating strong buying interest. The positive volume-price divergence observed in the late hours suggests the rally is supported by real participation, not just noise trading.

Fibonacci Retracements

Fibonacci levels based on the recent swing low at $0.00722 and high at $0.00758 show key retracement levels at $0.00742 (38.2%) and $0.00737 (61.8%). Price has tested the 61.8% level during the rally and may find temporary resistance there. A break above $0.00758 could target the next Fibonacci extension level at $0.00765. On the downside, a pullback to the 38.2% level could confirm support before a resumption of the uptrend.

Backtest Hypothesis

Given the observed breakout pattern and the alignment of momentum indicators, a potential backtesting strategy could focus on entering long positions on a breakout above a 50-period moving average on the 15-minute chart, confirmed by a bullish engulfing pattern and a MACD crossover above the signal line. Stop-loss placement could be set below the last key support at $0.00722, while a take-profit target could be aligned with the Fibonacci 61.8% retracement at $0.00737. If RSI enters overbought territory and a reversal candlestick pattern forms, a trailing stop or profit-taking could be triggered to secure gains.