Market Overview for ChainGPT/Tether (CGPTUSDT) on 2025-09-14

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• Price dipped from a high of $0.1032 to a low of $0.0985 before closing at $0.0992.
• A key support at $0.0992 held for over 2 hours, indicating short-term bearish exhaustion.
• Volume surged in the early evening session, suggesting increased selling pressure.
• RSI and MACD showed bearish momentum with no clear overbought conditions.
• Bollinger Bands tightened toward the end of the session, signaling potential volatility.

ChainGPT/Tether (CGPTUSDT) opened at $0.1009 on 2025-09-13 at 12:00 ET, surged to a 24-hour high of $0.1032 before retreating to a low of $0.0985, and closed at $0.0992 at 12:00 ET on 2025-09-14. Total trading volume over the period reached approximately 3,228,198.3 units, with a notional turnover of $320,258.37.

Structure & Formations

Price action formed a bearish continuation pattern with a key support level emerging around $0.0992, where buyers stepped in multiple times. A bearish engulfing pattern occurred around 04:15–04:45 ET, indicating strong bear momentum. A doji at 04:45 ET suggested indecision and potential reversal cues. Resistance levels appear at $0.1002 and $0.1019, both of which have been rejected multiple times over the past 24 hours.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages (SMA) have been trending lower, indicating a bearish bias. The 20SMA crossed below the 50SMA in the mid-evening hours, signaling a potential short-term sell-off. On the daily chart, the 200SMA currently sits at around $0.1020, suggesting that the pair remains in a bearish phase relative to its long-term average.

MACD & RSI

MACD remained in negative territory for most of the 24-hour period, with a bearish crossover between the signal and MACD lines occurring at around 04:15 ET. RSI fell to the 30–40 range, suggesting moderate oversold conditions but no clear bullish divergence. The RSI appears to have bottomed near 30, indicating that further downside could be limited if buyers re-enter the market.

Bollinger Bands

Bollinger Bands showed a tightening contraction in the last 2 hours, especially between 04:00 and 06:00 ET. This implies that volatility could expand soon, either in a breakout or a breakdown direction. Price closed near the middle band but slightly below it, aligning with the bearish bias.

Volume & Turnover

Trading volume spiked during the 20:15–20:30 ET session, coinciding with the breakout to the high of $0.1031. This suggests strong seller participation during that period. However, volume has significantly decreased in the early morning, indicating waning momentum. Notional turnover confirmed the volume pattern, with the largest notional trade occurring at $0.1031.

Fibonacci Retracements

Fibonacci retracements drawn from the recent swing high at $0.1031 and swing low at $0.0985 show that the current price of $0.0992 is near the 61.8% retracement level. This level often acts as a key support or resistance and may see increased order flow in the coming hours.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions when price breaks above the 61.8% Fibonacci retracement level with confirmation from the RSI moving above 50 and a bullish MACD crossover. Short positions could be triggered when price breaks below the 38.2% retracement with RSI below 40 and a bearish MACD divergence. Given the current bearish setup and the price consolidating near the 61.8% level, this strategy may be tested in the next 24 hours to evaluate its efficacy in a range-bound to breakout environment.