Market Overview: Contentos/Tether (COSUSDT) on 2026-01-03

Summary
• Price declined from 0.001408 to 0.001366, forming bearish engulfing and bear trap patterns.
• RSI dropped below 30, suggesting oversold conditions, while volume surged in the early session.
• Bollinger Bands showed expansion, indicating rising volatility, with price near the lower band.

Market Overview

At 12:00 ET on 2026-01-03, Contentos/Tether (COSUSDT) opened at 0.001395, reached a high of 0.001408, a low of 0.001356, and closed at 0.001366. Total volume was 351,510,266.9 and notional turnover amounted to 480,609.36.

Structure & Formations

The 24-hour OHLCV data for COSUSDT showed a bearish bias, with a high at 0.001408 followed by a significant pullback to 0.001356. A bearish engulfing pattern formed near the session high, and a potential bear trap was observed around 0.001403. Key support appears to be consolidating near 0.001365, with 0.001380 and 0.001405 as possible resistance levels for short-term reversal attempts.

Moving Averages

Short-term moving averages (20/50) on the 5-minute chart indicate a bearish crossover, reinforcing the downward bias. On the daily chart, the price is below the 200-day moving average, suggesting a longer-term bearish trend.

Momentum and Volatility

The RSI dropped below 30 during the session, signaling potential oversold conditions. However, this may not necessarily trigger a rebound, as volume remained elevated on the breakdown to 0.001356. The MACD showed bearish divergence, with negative momentum continuing despite price consolidation.

Bollinger Bands expanded during the session, indicating rising volatility. The price has been near the lower band for much of the session, consistent with a strong bearish move.

Volume and Turnover

Volume spiked in the early session, confirming the breakdown from 0.001408 to 0.001380. Turnover remained aligned with price action, showing no divergence. The most significant 5-minute volume spike occurred at 03:15 ET, coinciding with the high of the session and the start of the breakdown.

Fibonacci Retracements

Using the most recent 5-minute high at 0.001408 and low at 0.001356, key Fibonacci retracement levels sit at 0.001384 (38.2%) and 0.001370 (61.8%). These levels may offer short-term support for a potential bounce in the near term.

Over the next 24 hours, the market may test key support at 0.001365, with a possible pullback toward 0.001370–0.001384 as a target for buyers. However, the risk remains that the breakdown to 0.001350 or below could continue if momentum fails to reverse decisively. Investors should watch for volume confirmation at key levels.