Market Overview: Conflux/Tether (CFXUSDT) on 2025-12-26

Summary
• Price formed a bearish engulfing pattern at 0.0744, suggesting a short-term reversal.
• Volume spiked sharply during the 22:45–23:00 ET window, confirming bearish momentum.
• RSI crossed into oversold territory near 0.0722, hinting at potential short-term rebound.
• Bollinger Bands widened during the dump, signaling increased volatility.
• Turnover remained subdued during bullish attempts, questioning buying conviction.

Conflux/Tether (CFXUSDT) opened at 0.0739 on 2025-12-25 at 12:00 ET, reached a high of 0.0744, and closed at 0.0721 by 12:00 ET on 2025-12-26, after touching a low of 0.0717. The total 24-hour volume was 8,313,655.0 and turnover stood at 586,849.87 USD.

Structure & Formations

The price formed a bearish engulfing pattern at 0.0744, with a strong rejection of bullish follow-through. A large red candle at 22:45 ET confirmed a breakdown to 0.0722. Support appears at 0.0720, while resistance could form near 0.0743 in the next session.

MACD & RSI

The RSI dipped into oversold territory near 0.0722, which may signal a short-term bounce. MACD remained bearish throughout the session, with the histogram showing a widening bearish divergence as price declined. Momentum appears to be favoring the sellers.

Bollinger Bands

Bollinger Bands showed significant expansion during the dump from 0.0744 to 0.0717. Price closed near the lower band at 0.0721, indicating a potential bounce or consolidation near this level. A sustained move above 0.0742 could trigger a retest of the upper band.

Volume & Turnover

Volume spiked sharply during the breakdown at 22:45 ET, with a candle posting 1,132,388 volume and 83,441.8871 USD in turnover. This confirms the bearish shift in sentiment. However, volume during bullish attempts (e.g., 18:15–19:00 ET) was relatively weak, suggesting buyers lacked conviction.

Fibonacci Retracements

On the recent 5-minute swing from 0.0744 to 0.0717, the 61.8% retracement level is around 0.0731. Price appears to have tested this level but lacked follow-through, indicating a possible short-term reversal. Daily Fibonacci levels may offer additional context if the trend continues.

Market appears to be testing a key support zone around 0.0720–0.0725, with a potential for a short-covering rally. However, a close below 0.0720 may signal a deeper pullback. Investors should remain cautious of thin volume and erratic price swings over the next 24 hours.