Market Overview: RAYUSDT Bounces Off 0.932 With Reversal Signal

Summary
• Price tested key support at 0.932, bounced with a bullish engulfing pattern.
• RSI bottomed near 30, confirming oversold conditions and hinting at a rebound.
• Volatility expanded with Bollinger Band widening after a sharp 5-minute drop.
• MACD crossed above zero, aligning with a bullish price reversal post-dip.
• Volume spiked during the 18:00 ET low, validating the 0.932 support hold.

Raydium/Tether (RAYUSDT) opened at 0.963 on 2025-12-15 at 12:00 ET, dropped to a 24-hour low of 0.932, and closed at 0.958 by 12:00 ET on 2025-12-16. Total volume for the 24-hour window was 2.09 million, with a notional turnover of approximately $1.99 million.

Structure and Candlestick Patterns

The price action around 18:00–20:00 ET showed a sharp decline to 0.932, followed by a strong bounce. A bullish engulfing pattern formed on the 18:30–19:00 ET 5-minute candles, indicating a reversal. Key support at 0.932 and resistance at 0.96–0.97 appeared relevant, with price consolidating near 0.955–0.958 as a potential short-term pivot.

Technical Indicators and Momentum

RSI bottomed near 30 during the 0.932 low, showing oversold conditions. MACD turned positive with a bullish crossover above zero, supporting the recent rebound. Volatility increased significantly post-dip, with Bollinger Bands expanding, indicating a period of price discovery.

Volume and Turnover

Volume spiked during the 0.932 support test, confirming the bounce. Turnover was highest during the 18:00–19:30 ET window, coinciding with the sharp move lower and recovery. No clear divergence was observed between price and volume, suggesting the bounce has conviction.

Fibonacci Retracements

Fibonacci levels highlighted the 61.8% retracement at 0.957–0.959 as a likely short-term resistance. The bounce from 0.932 aligns with a 38.2% retracement, suggesting further consolidation may occur before a potential break above 0.96.

In the next 24 hours, a break above 0.96 may signal a resumption of the uptrend, but a retest of 0.932 could still happen. Investors should remain cautious and watch for a loss of momentum below 0.95–0.952 as a potential warning sign.