Market Overview for ChainGPT/Tether (CGPTUSDT)

• Price rose from 0.0933 to 0.0978 over 24 hours, gaining 4.82%
• RSI hit overbought levels near 70 during key upswings, suggesting potential pullback
• Volatility expanded mid-day, with Bollinger Band widening observed
• Volume increased sharply during the 19:15–23:00 ET window, coinciding with price highs
• Fibonacci retracement levels indicate 0.0961 (38.2%) and 0.0945 (61.8%) as key near-term support

ChainGPT/Tether (CGPTUSDT) opened at 0.0933 on 2025-09-17 12:00 ET, reached a high of 0.0982, a low of 0.0921, and closed at 0.0976 on 2025-09-18 12:00 ET. Total volume for the 24-hour period was 6,375,158.7 units, with turnover amounting to 628.21 USD.

Structure & Formations

The 15-minute chart exhibited a strong bullish impulse wave from the 17:45 to 20:30 ET window, peaking at 0.0972. A key resistance cluster formed between 0.0970 and 0.0975, where the price showed signs of consolidation. A strong engulfing candle appeared at 19:30 ET as price moved from 0.0949 to 0.0958, indicating a shift in sentiment. A doji at 23:45 ET signaled indecision ahead of a minor pullback, suggesting possible short-term support at 0.0972–0.0975.

Moving Averages

On the 15-minute chart, the 20-period MA (0.0955) and 50-period MA (0.0959) were crossed by price during the early part of the session, signaling an upward trend confirmation. Price remained above both lines for most of the day. On the daily chart, the 50-period MA was at 0.0948, while the 200-period MA sat at 0.0928, indicating a medium-term bullish setup with support likely to hold.

MACD & RSI

The MACD histogram expanded positively during the 19:15–20:30 ET period, aligning with the strong price rally and confirming momentum. The RSI surged to overbought levels (75–80) during the peak hours (19:30–20:30), suggesting potential overextension. A pullback to the 50–60 RSI range is likely in the next 24 hours unless further buying pressure emerges.

Bollinger Bands

Volatility increased significantly during the 19:30–21:30 ET window, with bands widening from 0.0930–0.0955 to 0.0940–0.0980. The price peaked at 0.0982, near the upper band, while the close of 0.0976 suggests slight consolidation. A retest of the lower band (around 0.0945–0.0955) could follow, with a potential bounce expected if bulls re-enter.

Volume & Turnover

Volume spiked significantly from 19:15–22:30 ET, with the highest 15-minute volume reaching 418,950.1 units at 22:30. Turnover increased in tandem, confirming the strength of the rally. However, a divergence appeared between price and volume after 23:45 ET, as price declined slightly while volume remained elevated. This suggests potential exhaustion in the bullish momentum, warranting closer attention to volume behavior.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing (0.0931–0.0982), key support levels at 0.0961 (38.2%) and 0.0945 (61.8%) could act as short-term floors. Resistance is likely to remain near 0.0973–0.0975 and potentially 0.0980–0.0982 if bullish sentiment persists.

Backtest Hypothesis

A potential backtesting strategy could involve using a Bollinger Band breakout with RSI overbought confirmation, entering long on the close above the upper band when RSI exceeds 70. The stop loss would be placed below the 20-period MA, and the take profit would target the next Fibonacci level (e.g., 61.8% retracement). This approach may be refined by incorporating volume filtering to confirm the strength of the breakout. Historical testing on similar assets and timeframes could provide insight into its viability for CGPTUSDT.