Market Overview for Conflux/Tether (CFXUSDT) on 2025-11-05

Summary
• CFX/USDT closed near 0.0905 after a volatile 24-hour swing from 0.0815 to 0.0914.
• A bullish reversal pattern formed after the 0.0843 low, with momentum resuming upward post 0.0862.
• High volume confirmed the 0.086–0.0906 price range as key congestion and breakout area.

Conflux/Tether (CFXUSDT) opened at 0.0887 on 2025-11-04 at 12:00 ET, reached a high of 0.0914, and a low of 0.0815, before closing at 0.0905 on 2025-11-05 at 12:00 ET. Total volume for the 24-hour window was 68,700,168.0, and notional turnover (amount) was 8,385.00. The pair demonstrated a clear reversal structure from 0.0843 to 0.0905, with a congestion range forming between 0.086 and 0.0906.

The price structure over the last 24 hours revealed a key support at 0.0843, which held before the price rebounded strongly. A bullish reversal pattern, resembling a double bottom and a series of bullish engulfing patterns, formed between 0.085 and 0.0865. On the 15-minute chart, the 20 and 50 EMA lines crossed to the upside during the rally from 0.0862 to 0.0905, signaling a short-term bullish bias. The 50-period MA has remained below the 100 and 200-period lines on the daily chart, suggesting a continuation of the longer-term range-bound trend.

Momentum indicators showed mixed signals. The RSI crossed into overbought territory around 0.0903–0.0905, which may signal a short-term pullback. The MACD crossed above the signal line around 0.088–0.089, reinforcing the bullish bias during the rally. However, the divergence between rising prices and slightly decreasing RSI levels post 0.0905 suggests caution may be warranted for near-term traders.

Volatility increased significantly during the rebound, with Bollinger Bands widening from the 0.0862 level to 0.0905. Price consistently remained within the upper and lower bands, suggesting the move was within normal volatility bounds. The volume profile confirmed the strength of the 0.086–0.0906 move, with the highest volume concentrated around the 0.0862–0.0882 area. Notional turnover also rose sharply during this phase, supporting the view that the move was driven by genuine buying interest.

Fibonacci retracement levels drawn from the 0.0815 low to the 0.0914 high placed key levels at 0.0843 (38.2%) and 0.0877 (61.8%). The 61.8% level at 0.0877 coincided with strong volume and appears to be an important psychological level. The price has since moved above this level and is currently consolidating near the 0.0905–0.0914 range. A break above 0.0914 could target the next Fibonacci extension level at 0.0941, while a pullback below 0.0877 may see a retest of the 0.0843 level.

Looking ahead, traders should watch for a continuation of the bullish trend above 0.0905 or a potential pullback into the 0.0877–0.0882 zone. A retest of the 0.0865 level may occur if the 0.0905 level fails to hold, but volume and turnover data suggest the move above 0.0862 is well-supported.

Backtest Hypothesis: Given the absence of automated Bullish-Engulfing pattern recognition for CFX/USDT, a manual backtest of this strategy would require either user-provided dates for testing or a local detection of the pattern using raw OHLCV data. This approach would allow for a 24-hour holding period test to assess returns and risk-reward ratios. Alternatively, testing on a similar, covered ticker could streamline the process. The backtest could build on the observed 0.0862–0.0905 rebound, which shows strong volume and pattern confirmation.