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Summary
• Price formed bearish engulfing patterns after reaching a 24-hour high of $0.001253.
• Volatility expanded late in the session, with volume spiking at 11:45 AM ET.
• RSI suggests overbought conditions at the high, with a potential pullback to 0.001246–0.001248.
• 5-minute 20SMA crossed below the 50SMA, signaling possible near-term bearish momentum.
Contentos/Tether (COSUSDT) opened at $0.001250 at 12:00 ET–1 and reached a high of $0.001253 before closing at $0.001241 by 12:00 ET. The pair traded between $0.001235 and $0.001254, with total volume of 12.6 million COS and notional turnover of $15,747. Price action suggests a consolidation phase after aggressive bearish follow-through.
Structure & Formations
The price formed a bearish engulfing pattern following the high at $0.001253, with a long upper wick and a close near the session low. A doji emerged at 11:45 AM ET, signaling indecision. Key support appears to be forming around $0.001246–0.001248, with resistance at $0.001250.
Indicators & Momentum

The 5-minute 20SMA crossed below the 50SMA into bearish territory. RSI reached 75 near the high, suggesting overbought conditions and a probable correction. MACD flattened mid-session, suggesting momentum is slowing. Daily 50/200SMA alignment remains neutral, with no clear directional bias.
Volatility & Volume
Volatility expanded as the session progressed, with Bollinger Bands widening late in the day. Volume spiked significantly at 11:45 AM ET and again at 12:00 PM ET, coinciding with the drop below $0.001246. Notional turnover spiked during the breakdown, suggesting strong conviction in the bearish move.
Key Levels & Fibonacci
A 5-minute retracement from $0.001253 to $0.001241 sees 38.2% at $0.001249 and 61.8% at $0.001246, both of which align with key support. The 0.001250 level remains a crucial retest level in the near term.
Looking ahead, the pair may consolidate within $0.001246–0.001250 for the next 24 hours. A break below $0.001246 could target $0.001242, but traders should be cautious of a possible rebound test of key resistance.
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