Market Overview for Raydium/Tether USDt (RAYUSDT) – 24-Hour Summary

• Price surged past 3.400 after a consolidation phase, breaking key resistance with strong volume
• RSI signaled overbought conditions by midday as momentum accelerated sharply
• Bollinger Bands showed increasing volatility, with price trading above the upper band for much of the session
• Volume spiked near 3.470, suggesting potential exhaustion or confirmation of a breakout

Raydium/Tether USDt (RAYUSDT) opened at $3.28 on 2025-09-09 at 12:00 ET and closed at $3.455 as of 12:00 ET on 2025-09-10. The pair reached a high of $3.504 and a low of $3.268, with total volume of 1.90 million and turnover of $6.56 million over the 24-hour period.

Structure & Formations

The price of RAYUSDT formed a clear bullish breakout pattern as it surged past the 3.400 resistance level, followed by a strong push to 3.504. A 15-minute bullish engulfing pattern was observed at the start of the breakout, confirming renewed buying interest. A key support area emerged around 3.390–3.400, which was tested twice during the day and held firmly, reinforcing its significance. A doji formed at 3.470–3.480, hinting at a possible pause in momentum.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs were both decisively crossed by price in the morning, indicating a strong short-term bullish bias. On the daily chart, the price remained above the 50 and 200-day averages, suggesting continued medium-term strength. However, the 100-day SMA at 3.350 remains a critical line to monitor, as any pullback below this could trigger a retest of the 3.300 level.

MACD & RSI

The MACD showed a bullish divergence with price as it surged past 3.450, with both lines and histogram expanding positively. RSI spiked to overbought levels (above 75) in the afternoon, signaling potential exhaustion. However, the failure of RSI to form a bearish divergence despite price consolidation suggests the bullish trend may remain intact for now.

Bollinger Bands

Price traded well above the upper Bollinger Band for much of the session, particularly in the late morning and early afternoon, indicating heightened volatility. A contraction in the band width occurred prior to the breakout, suggesting a potential move was brewing.

Volume & Turnover

Volume surged to over 336,000 on the 15-minute chart as the price approached 3.504, confirming the breakout. Notional turnover also spiked, aligning with the price move. However, the high turnover at the top of the move raised questions about sustainability. Divergence occurred in the late afternoon when volume dipped despite a modest price dip, suggesting waning conviction.

Fibonacci Retracements

Applying Fibonacci to the 3.268–3.504 swing, the 61.8% retracement level sits at 3.403, which was closely tested during the day. The 38.2% retracement at 3.465 acted as a minor resistance and was rejected twice. On the daily chart, the 3.300–3.504 swing points to the 61.8% retracement at 3.347 as a key support level ahead of the 200-day SMA.

Backtest Hypothesis

A potential backtest strategy for RAYUSDT could focus on breakout entries above the 3.400–3.450 range, confirmed by a bullish engulfing pattern or strong volume. A stop-loss could be placed just below the breakout zone, with a target at the 61.8% Fibonacci level (3.465). This strategy leverages strong support/resistance levels, volume confirmation, and overbought RSI conditions to filter high-probability entries in a trending market.