Market Overview: Contentos/Tether (COSUSDT) - 2025-09-23

• Price dipped from 0.002927 to 0.002872 before recovering, forming a bullish rebound after a key intraday low.
• Momentum improved late in the session with RSI stabilizing out of oversold territory.
• Bollinger Bands showed tightening volatility before a sharp break higher post 03:00 ET.
• Volume surged during the overnight lows and again during the late-day rebound.
• A bearish engulfing pattern failed to hold, suggesting buyers regained control near 0.002895.

Contentos/Tether (COSUSDT) opened at 0.002906 on 2025-09-22 at 12:00 ET, surged to a high of 0.002947 before 14:15 ET, and then tested a key support at 0.002872. The pair closed at 0.002940 on 2025-09-23 at 12:00 ET. Total traded volume over the 24-hour period was approximately 155,899,134.5 COS, with notional turnover of $454,848.10.

The price action featured a bearish breakdown attempt from key resistance at 0.002906–0.002909, failing to hold as a bullish rebound developed through 0.002897–0.002905. A bearish engulfing candle formed at 00:45 ET (0.002914–0.002894), followed by a sharp rebound from 0.002872 at 03:30 ET. This low coincided with an increase in volume and signaled a potential short-term bottom.

Bollinger Bands constricted tightly between 03:00–04:30 ET before price broke higher. The RSI dipped below 30 during the overnight decline, then rebounded above 50 mid-day, confirming a shift in momentum. A 20-period and 50-period EMA on the 15-minute chart showed a bearish crossover earlier, but this reversed post 04:00 ET with the 20-period moving above the 50-period, reinforcing bullish bias.

A Fibonacci 61.8% retracement level at 0.002895–0.002897 acted as a psychological floor, and price bounced strongly from there. Notable volume spikes occurred during the overnight low and again during the 05:30–06:00 ET rebound. Divergences were not observed between price and volume, suggesting the move higher is being supported by genuine buying interest.

The MACD crossed into positive territory mid-day, with a bullish divergence forming as price lows were lower but the MACD lows were higher. This, combined with a rising RSI and volume confirmation, suggests short-term bullish momentum. However, a bearish breakout above 0.002947 could trigger increased selling pressure.

Backtest Hypothesis
The described backtest strategy involves entering long positions when RSI closes below 30 and price rebounds above the 20-period EMA on the 15-minute chart, with a stop loss set at the previous swing low and a target at the nearest Fibonacci 61.8% retracement level. Based on today’s data, this strategy would have triggered an entry at 0.002895–0.002887 with a stop at 0.002872 and a target at 0.002905–0.002912. The strategy was confirmed by the late-day rebound, suggesting it may be robust under conditions of tight volatility followed by a strong reversal.