Market Overview: Ravencoin/Tether (RVNUSDT) on 2026-01-02

Summary
• Price rose from $0.00701 to $0.00762, forming bullish engulfing patterns near $0.00701 and $0.00751.
• RSI indicates momentum remains strong but approaching overbought territory at close.
• Volatility expanded near $0.00744–$0.00762, with volume increasing 5–8x during key breakout moments.
• Price tested and broke above 61.8% Fibonacci level of $0.00754, suggesting continuation potential.

Ravencoin/Tether (RVNUSDT) opened at $0.00701 on 2026-01-01 at 12:00 ET and closed at $0.00762 by 12:00 ET on 2026-01-02, reaching a high of $0.00764 and a low of $0.00701. Total volume was 156.9 million, with turnover of $1,153,000.

Structure & Formations

Price moved in a clear bullish trend throughout the 24-hour period, with notable support at $0.00701 and $0.00744. A strong bullish engulfing pattern formed at $0.00701, followed by a breakout above key resistance at $0.00754. The 61.8% Fibonacci retracement level at $0.00754 was taken out, suggesting a possible continuation of the upward move.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages both showed a steep upward slope, confirming the bullish bias. The daily chart saw the 50-period MA at $0.00745, suggesting continued strength as price remains above this level.

Momentum and Volatility

The RSI climbed to 68–70 near the close, indicating strong momentum but cautioning against overbought conditions. MACD remained positive with a widening histogram, reinforcing upward thrust. Bollinger Bands expanded significantly during the rally from $0.00744 to $0.00764, showing rising volatility and a healthy continuation pattern.

Volume and Turnover

Volume spiked during key 5-minute candles, particularly between 22:15 ET and 22:30 ET when the price broke $0.00751, and again near $0.00762. Turnover aligned with these spikes, indicating strong institutional or retail participation. No divergence was observed between price and turnover, supporting the bullish case.

Forward-Looking View

The rally appears to have momentum to test $0.00770–0.00775, with the 20-period MA likely to follow higher. However, a pullback to test $0.00751–0.00754 could offer a second chance to buy. Investors should watch for signs of exhaustion in RSI and volume during the next 24 hours.