Market Overview for ChainGPT/Tether (CGPTUSDT): 2025-10-11 12:00 ET

• ChainGPT/Tether (CGPTUSDT) fell sharply from $0.0766 to $0.0286, then recovered to close at $0.0579 after heavy volume.
• Key support at $0.0570–$0.0575 held as price bounced, with bearish momentum exhausting in late hours.
• Volatility surged during the selloff but normalized after a $0.0572–$0.0581 consolidation.
• RSI signaled oversold conditions around $0.0286, while volume confirmed the $0.0575–0.0585 range as a potential turning point.

At 12:00 ET on 2025-10-11, ChainGPT/Tether (CGPTUSDT) closed at $0.0579, down from an open of $0.0764. The 24-hour range was $0.0769 (high) to $0.0161 (low). Total volume reached 79,400,853.5 and total turnover was $4,876,568.59. The sharp drop below $0.05 and subsequent rebound suggest a potential short-term bottoming process.

Structure & Formations

CGPTUSDT formed a bearish engulfing pattern from $0.0764 to $0.0685, followed by a massive breakdown to $0.0286, marked by a long bearish shadow. A bullish hammer emerged around $0.0286–0.0469, signaling potential support. The recovery phase displayed a series of higher lows and higher closes, forming a small ascending triangle between $0.0565 and $0.0585.

Moving Averages

On the 15-minute chart, the 20- and 50-period moving averages trended downward during the selloff but began converging with price after 2025-10-11 03:00 ET. The daily chart shows the 50-period MA at $0.0615, while the 200-period MA remains at $0.0720, suggesting a bearish bias over the long-term. Price remains below all three (50, 100, 200) daily MAs.

MACD & RSI

MACD turned negative during the breakdown and remained below the signal line, confirming bearish momentum. However, in the final 6 hours, MACD crossed above the signal line, indicating a potential shift in sentiment. RSI hit oversold territory (below 30) during the selloff, rebounded to 45–55 in the recovery phase, and may signal a near-term bounce.

Bollinger Bands

Volatility expanded sharply during the breakdown, pushing price to the lower band. After 2025-10-11 05:00 ET, volatility compressed, with price trading within a narrow range near the middle band. This suggests a potential consolidation phase ahead.

Volume & Turnover

Volume surged during the breakdown (peak at $0.0286), with a $427k notional turnover at that point. The recovery phase saw increased buying interest, with volume spiking above 1.6 million at 2025-10-11 15:15 ET. However, buying volume remains lower than during the selloff, indicating a cautious market.

Fibonacci Retracements

The $0.0286–0.0685 swing saw key retracements at $0.0430 (38.2%) and $0.0560 (61.8%). Price held above the 61.8% level before bouncing, suggesting strong near-term support. On the daily chart, the 38.2% retracement of the $0.05–0.0780 range is at $0.0635, which may serve as resistance.

Backtest Hypothesis

The proposed backtesting strategy involves entering long positions when RSI crosses above 30 with increasing volume after a sharp decline, and exiting when price breaks above a 15-minute ascending triangle. Given today’s pattern, the setup at $0.0565–0.0585 could serve as a valid entry point, assuming a breakout above $0.0585. A stop loss could be placed below $0.0560, with a target near $0.0635. This approach relies on volume confirmation and Fibonacci retracement levels to filter low-probability trades.