Market Overview: Conflux/Tether (CFXUSDT) - 24-Hour Candlestick Summary

Summary
• Price surged to a high of $0.1088 before closing at $0.1064, showing strong bullish momentum.
• Volume spiked dramatically after 16:45 ET, reaching $24.68 million in a single candle.
• RSI and MACD suggest overbought conditions and a bullish crossover, but divergences warrant caution.

Conflux/Tether (CFXUSDT) opened at $0.0861 on 2025-11-06 at 12:00 ET and closed at $0.1064 the following day. The pair touched a high of $0.1088 and a low of $0.0852. Total 24-hour volume was 46.33 million CFX, and notional turnover reached approximately $24.68 million.

Structure & Formations

The price of CFXUSDT formed a strong bullish impulse over the 24-hour period, marked by a sharp move from $0.0852 to $0.1088. A large bullish candle at 16:45 ET—showing a high of $0.1088—was followed by a consolidation phase. Key support levels appear to be at $0.0921 and $0.0886, while resistance has shifted to the $0.1088–$0.1089 range. A bearish engulfing pattern may form if the price closes below $0.098.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both showed a sharp upward trajectory, crossing above $0.096 after 16:30 ET. On a daily basis, the 50-period MA would likely be near $0.092, while the 200-period MA sits closer to $0.086–$0.087. This suggests CFXUSDT is in a medium-term bullish phase, with a potential pullback toward the 200-day MA if the current bullish trend reverses.

MACD & RSI

The MACD line crossed above the signal line near $0.096, indicating a bullish momentum shift. RSI peaked at 85–90 in the final hour, suggesting overbought conditions. A pullback below the $0.104 level could trigger a short-term correction in momentum, though divergence between RSI and price should be monitored.

Bollinger Bands

The price moved well outside the upper Bollinger Band during the explosive move from $0.0977 to $0.1088, indicating high volatility and strong buying pressure. The band width expanded significantly, signaling a potential reversion toward the middle band in the short term.

Volume & Turnover

Volume surged sharply in the late afternoon and evening hours, with the highest single candle volume of 24.68 million CFX at 16:45 ET. This coincided with a large price move to $0.1088. The increase in volume appears to confirm the upward move rather than foreshadow a reversal. However, a divergence between rising price and declining volume could signal a slowdown in bullish momentum.

Fibonacci Retracements

Fibonacci retracement levels from the $0.0852–$0.1088 swing suggest potential areas of interest at 61.8% ($0.0991) and 78.6% ($0.1043). On a broader scale, the 61.8% level of the previous $0.0852–$0.1088 move might serve as a pivot for short-term traders. A break above $0.1088 could target the $0.1124–$0.1142 range on the next Fibonacci extension.

Backtest Hypothesis

The MACD crossover and bullish momentum observed today could serve as the foundation for a backtesting strategy. A potential approach might involve entering long positions on a bullish MACD crossover above the 20-period moving average, with a stop-loss placed just below a recent swing low. Trailing stops could be used to lock in gains during upward extensions. This would be most effective if combined with volume confirmation and divergence monitoring in RSI.