Market Overview for Conflux/Tether (CFXUSDT)

Summary
• Price surged from $0.0798 to $0.0837, breaking above prior resistance with strong volume in late hours.
• RSI suggests overbought conditions, with price nearing the top of Bollinger Bands.
• Volume expanded significantly during the 14:30–16:45 ET window, signaling heightened interest.
• A bullish engulfing pattern formed at the end of the 16:30–16:45 ET session, hinting at short-term momentum.
• Fibonacci 61.8% level aligns with key resistance near $0.0825, now showing signs of consolidation.

The CFXUSDT pair opened at $0.0798 (12:00 ET–1) and closed at $0.0799 by 12:00 ET, reaching a high of $0.0837 and a low of $0.0793. Total volume traded was 15,765,144.0 with a turnover of $1,292,618.28.

Price moved higher on strong volume, with a late-day rally pushing near the upper Bollinger Band. A 20-period moving average crossed above the 50-period on the 5-minute chart, confirming short-term bullish momentum. MACD remains in positive territory, but RSI is approaching overbought levels, suggesting potential pullback risk.

Volume spiked during the 14:30–16:45 ET window as prices surged to $0.0837, confirming the breakout. However, the candlestick at 16:45 ET shows a bearish reversal with a long upper wick, hinting at near-term profit-taking.

Fibonacci levels now suggest a critical test near the 61.8% retracement at $0.0825, where consolidation may offer a key inflection point. If support holds, a test of $0.0835 could follow; however, a breakdown below $0.0812 could re-open the path to $0.0798. Investors should remain cautious and watch for volatility contraction as a possible precursor to a reversal.