Market Overview for Contentos/Tether (COSUSDT) – 24-Hour Analysis

• Price declined from 0.003203 to 0.002903 amid bearish momentum and high volume.
• Key support seen at 0.002875–0.002893 with multiple failed attempts to break below.
• Volatility expanded midday, followed by contraction as price stabilized near 0.0029.
• RSI signaled oversold territory, suggesting a potential short-term bounce.
• Bollinger Bands show compression, indicating a possible breakout or consolidation phase.

Contentos/Tether (COSUSDT) opened at 0.003189 on 2025-09-21 12:00 ET, reached a high of 0.003203, touched a low of 0.002850, and closed at 0.002903 as of 2025-09-22 12:00 ET. The 24-hour volume amounted to 183,697,648.78 and notional turnover reached $526,678. Price action displayed a bearish bias, with a sharp sell-off beginning around 06:15 ET and a consolidation phase forming in the latter half of the day.

Structure and formations reveal a key support cluster forming between 0.002875 and 0.002893, where price repeatedly bounced off during the afternoon and early evening. A notable bearish engulfing pattern emerged around 06:15 ET, confirming a major reversal in sentiment. The 0.003125–0.003155 range formed an initial resistance zone, which failed to hold as volume surged downward.

MACD lines show a bearish crossover with the signal line, indicating weakening bullish momentum. RSI hit oversold territory below 25 in the late morning, suggesting a potential short-term rebound. Bollinger Bands are currently in a contraction phase, indicating a possible breakout or continuation of consolidation. The 20-period and 50-period moving averages on the 15-minute chart are below the price, reinforcing the bearish trend.

Volume surged during the sell-off phase, particularly between 06:15 ET and 08:00 ET, while turnover also spiked as price dropped from 0.003036 to 0.002941. However, volume has since decreased as price stabilized near 0.0029, indicating reduced selling pressure. Fibonacci retracement levels from the 0.003203 high to the 0.002850 low show key levels at 0.003048 (38.2%), 0.002957 (50%), and 0.002870 (61.8%), with price currently near 50% retracement.

A backtest strategy could be built using the observed bearish engulfing pattern and oversold RSI conditions to identify potential short-term reversal points. The 61.8% Fibonacci level at 0.002870 could serve as a stop-loss point for those going long.