Market Overview for RedStone/Tether (REDUSDT) – 2025-10-24

• RedStone/Tether (REDUSDT) traded in a 24-hour range of 0.3364–0.3512, closing near 0.3435 after opening at 0.3457.

• A bearish bias emerged as the price drifted lower from 0.3473–0.3435 on waning momentum and declining volume after 06:00 ET.

• Volatility expanded mid-cycle with a 0.3454–0.3512 swing, followed by consolidation below the 0.3480 resistance level.

• RSI hit 55–60 before declining, suggesting waning bullish momentum, while MACD showed negative divergence with price.

• Bollinger Bands widened during the 0.3454–0.3512 spike, reflecting increased volatility, before narrowing into a consolidation phase.

RedStone/Tether (REDUSDT) opened at 0.3457 on 2025-10-23 at 12:00 ET and closed at 0.3435 the following day at the same time. The 24-hour high was 0.3512, while the low was 0.3364. Total volume reached 1,916,948.1, with a notional turnover of 661,831.1 USD. Price activity revealed a bearish drift after initial volatility.

Structure & Formations

The 15-minute chart displayed several bearish tendencies, including a large bearish body after 00:30 ET, followed by a consolidation phase below 0.345. Key resistance appeared around 0.3480–0.3495, where the price stalled multiple times. Support levels emerged at 0.3435–0.3440, which held after a dip from 0.3454–0.3435. No strong bullish candlestick patterns formed, but several bearish patterns—like the engulfing at 00:30 ET—confirmed weakening momentum.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended downward after the early morning high. Price closed below both averages, indicating a bearish bias. On the daily chart, the 50-period line is near 0.3450, acting as a dynamic resistance. The 100-period MA at 0.3470 and 200-period MA at 0.3490 suggest that a close below 0.3450 could trigger a retest of key support at 0.3435–0.3440.

MACD & RSI

The MACD turned negative in the morning and remained below the signal line, aligning with the bearish drift. RSI peaked at 60 mid-morning before declining to mid-50s, indicating a loss of bullish conviction. A bearish divergence appeared as price lows were lower than RSI lows, suggesting potential for a deeper correction ahead.

Bollinger Bands

Bollinger Bands widened during the 0.3454–0.3512 upswing, reflecting increased volatility, before narrowing into a consolidation phase. Price hovered near the lower band after 06:00 ET, indicating a period of distribution and bearish pressure. A retest of the upper band at 0.3460–0.3470 could reveal short-covering potential.

Volume & Turnover

Volume spiked during the early morning rally (00:30–03:00 ET) with a high of 299,146.5 at 00:30 ET, confirming the move up to 0.3512. However, turnover did not proportionally increase, suggesting possible price manipulation or shallow accumulation. After 06:00 ET, volume declined, and price continued to drift lower, indicating weak follow-through and a bearish distribution phase.

Fibonacci Retracements

On the 15-minute chart, price pulled back from the 0.3512 high to 0.3435, hitting the 61.8% Fibonacci level at 0.3446–0.3450, which acted as a temporary support. On the daily chart, a key 61.8% retracement of the 0.3495–0.3512 rally aligns with 0.3440–0.3450, making it a critical level for near-term support. A break below this could trigger a test of the 0.3420–0.3425 level.

Backtest Hypothesis

Given the bearish setup and the confirmation of key Fibonacci and moving average levels, a backtest of the Bearish-Engulfing pattern could help validate the strength of the downtrend. If REDUSDT exhibits a strong bearish engulfing pattern near the 0.3450–0.3480 range, it may signal a continuation of the bearish bias. However, due to missing pattern data from the provider, a manual check or alternate data source is needed for accurate implementation.