Market Overview: Conflux/Tether (CFXUSDT) 24-Hour Analysis as of 2025-10-07

• Price declined from 0.1505 to 0.1411, with strong bearish momentum late in the 24-hour window.
• RSI and MACD confirm overbought conditions earlier, followed by bearish divergence and a strong sell-off.
• Volatility surged with increased trading volume and a sharp drop in turnover during the last 6 hours.
• A bearish engulfing pattern formed around 19:00 ET, followed by a key breakdown below 0.1492.

Conflux/Tether (CFXUSDT) opened at 0.1495 on 2025-10-06 at 12:00 ET and closed at 0.1411 as of 2025-10-07 at 12:00 ET. The pair reached a high of 0.1505 and a low of 0.1411 over the 24-hour period. Total volume amounted to 34,462,752.0 and notional turnover totaled approximately $4,923,639.33 (calculated as volume × average price).

The 15-minute chart reveals a clear bearish trend with a breakdown from a key resistance at 0.1498 followed by a bearish engulfing pattern around 19:00 ET. A significant sell-off occurred between 13:45 and 16:00 ET, where the price dropped nearly 2.2% on extremely high volume, pushing the pair below key support levels. Bollinger Bands show a sharp expansion in the final hours of the period, indicating heightened volatility.

Moving averages confirm the bearish momentum: the 20- and 50-period moving averages on the 15-minute chart are both below the price, suggesting a continuation of the downtrend. The daily 200-period moving average is also acting as resistance below 0.15, reinforcing the bearish bias. RSI hit overbought territory early in the day but declined sharply into oversold territory by the end, signaling exhaustion. MACD crossed below the signal line, forming a bearish crossover that aligns with the price action.

Fibonacci retracement levels drawn from the key swing high (0.1505) to the swing low (0.1411) indicate potential support at 38.2% (~0.1463) and 61.8% (~0.1437). The price is currently testing the 61.8% level at ~0.1437 with high volume, suggesting it could serve as a short-term floor. A break below this level could accelerate the decline toward 0.1400.