Market Overview: BENQI (QIUSDT) 24-Hour Technical Summary

• BENQI/QIUSDT rose from 0.00757 to 0.00767 in 24 hours, showing a bullish bias.
• Price consolidated near 0.00765-0.00767, forming potential resistance.
• Volume increased significantly during the price push, supporting bullish momentum.
• RSI suggests overbought conditions; a pullback may be imminent.
• Bollinger Bands reflect moderate volatility, with price near the upper band.

At 12:00 ET–1 on 2025-08-09, BENQI/QIUSDT opened at 0.00757 and closed at 0.00745 by 12:00 ET on 2025-08-10, reaching a high of 0.00769 and a low of 0.00743. The total 24-hour volume was approximately 107,723,721.0, while the notional turnover stood at $769,240.00.

Structure & Formations

BENQI showed a bullish breakout attempt from a tight range between 0.00757 and 0.00769. The price formed a bullish engulfing pattern at 0.00766–0.00769, suggesting short-term strength. Resistance appears to be forming around 0.00765–0.00767, with support at 0.00754–0.00756. A bearish reversal pattern is forming near 0.00755, indicating potential for a consolidation or pullback.

Moving Averages

On the 15-minute chart, price has largely held above the 20-period and 50-period moving averages, signaling a short-term bullish bias. The daily chart shows price testing the 200-day average around 0.00756, with a positive cross between the 50 and 100-day lines suggesting moderate strength.

MACD & RSI

MACD showed a positive divergence in the late hours of the session, suggesting lingering bullish momentum. However, RSI climbed into overbought territory, peaking at 67, hinting that a short-term pullback may be due. The RSI could signal a possible bearish reversal if it falls below 50 in the coming hours.

Bollinger Bands

Bollinger Bands reflected moderate volatility, with price reaching the upper band on multiple occasions, especially in the early part of the session. The bands have since converged slightly, indicating potential for a breakout or consolidation phase.

Volume & Turnover

Volume spiked sharply during the price rally between 0.0076 and 0.00767, particularly around the 0.00769 high. Notional turnover increased correspondingly, providing confirmation that the move was supported by strong buying pressure. A divergence is now forming between price and volume as the latter tapers off, suggesting caution ahead.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from 0.00757 to 0.00769, the price is currently near the 61.8% retracement level at 0.00759. On the daily chart, the key 38.2% retracement level is at 0.00755 and appears to be functioning as immediate support.

Looking ahead, BENQI may face a critical test near 0.00765–0.00767, with a break above likely to signal renewed bullish momentum. However, overbought conditions and a bearish reversal pattern near 0.00755 suggest a possible consolidation or pullback in the short term. Investors should remain cautious of volatility and potential divergence between price and volume.