Market Overview for Radiant Capital/Tether (RDNTUSDT): 24-Hour Technical Analysis

• Price swung between $0.01915 and $0.01974, with a bearish close near 12:00 ET.
• RSI and MACD signaled mixed momentum with potential for retesting key support.
• Volatility expanded during the overnight sell-off, with over $10.1M in turnover observed.
• A key support level appears at $0.01950, with a potential bullish reversal hint around 06:00 ET.
• Fibonacci levels suggest 61.8% retracement at $0.01945 may provide near-term stability.

Radiant Capital/Tether (RDNTUSDT) opened at $0.01953 at 12:00 ET–1 and reached a high of $0.01974 by 13:00 ET. It closed at $0.01962 at 12:00 ET, after a low of $0.01860 in early trading. Total volume for the 24-hour period was 33,297,786, while notional turnover reached approximately $10.1 million.

The pair experienced a sharp sell-off overnight, particularly between 03:00 and 04:30 ET, where it lost over 3% of its value, breaking below key psychological levels. This move was confirmed by bearish divergence in the RSI and MACD, with RSI dipping to 30 and MACD line crossing below the signal line. The 20-period moving average on the 15-minute chart crossed below the 50-period line (death cross), reinforcing short-term bearish sentiment.

Bollinger Bands showed a widening trend during the morning hours, indicating increased volatility, with prices frequently testing the lower band before bouncing back. A notable bullish engulfing pattern emerged around 06:00 ET, suggesting a potential reversal point, while Fibonacci retracement levels indicate 61.8% support at $0.01945 could hold in the near term. Volume remained elevated during the sell-off but has since moderated, suggesting that the worst of the selloff may have passed.

Looking ahead, the pair may attempt a test of the $0.01945 support level and could see a rebound if bulls defend it. However, a break below this level may trigger further downside toward $0.01930. Investors should remain cautious of the broader bearish bias and potential for another pullback if key Fibonacci levels fail.

The backtesting strategy hinges on using the 20/50-period EMA crossover on the 15-minute chart as an entry signal, combined with RSI-based divergence as a confirmation filter. Given the recent bearish crossover and RSI divergence observed, a short bias would be favored. Stop-loss placement should be below the 61.8% Fibonacci level at $0.01945, with a target at the next 38.2% level at $0.01960. This strategy would benefit from a volatile environment like the one observed and could be enhanced by incorporating volume filters to confirm entry signals.