Market Overview for REI Network/Tether (REIUSDT): 24-Hour Analysis

• REIUSDT rallied from 0.01685 to 0.0181, driven by volume spikes and bullish momentum.
• RSI and MACD confirmed strength, with price staying above 20-period moving average.
• Volatility expanded near 0.0178–0.0181 as buyers absorbed key resistance levels.
• Dips into 0.0176–0.0177 zones showed strong support, with no bearish divergence.
• Fibonacci retracement levels at 0.0177–0.0180 are key for continuation or consolidation.

REI Network/Tether (REIUSDT) traded between 0.01685 and 0.0181 over the past 24 hours, with the price closing at 0.01768 from an open of 0.0169. Total traded volume reached 16.9 million REI, while notional turnover amounted to $313,679. The price action suggests a strong buyers’ control in the afternoon hours, followed by a consolidation in the early morning.

The price structure showed multiple bullish signs, including a strong bullish engulfing pattern forming around 0.0176–0.0178. Key support was observed at 0.01765 and 0.01762, with the price bouncing off these levels on several occasions. Resistance emerged at 0.01783 and 0.01802, where selling pressure increased and the price struggled to maintain gains. The 20-period moving average (20SMA) acted as a dynamic support, confirming the short-term bullish bias.

MACD and RSI Signal Strong Momentum

MACD turned positive around 0.0178 and maintained a bullish crossover above the zero line, indicating continued buying pressure. The RSI climbed into overbought territory (above 60) in the afternoon, but did not exceed 70, suggesting strong momentum without extreme overbought conditions. This supports the view that the rally is still within a constructive trend and has not reached overextended levels.

Bollinger Bands showed a clear expansion during the rally, with prices testing the upper band at 0.01814 before retreating. This suggests heightened volatility and active participation from both bulls and bears. Prices have since settled into a tighter range near the middle band, suggesting a possible consolidation phase before the next move.

Fibonacci and Volume Confirm Price Action

Fibonacci retracement levels from the key swing low at 0.01685 to the swing high at 0.0181 identified key levels at 0.01776 (38.2%), 0.01790 (50%), and 0.01797 (61.8%). The price spent significant time in the 0.0177–0.0179 range, confirming these levels as potential zones for trend continuation or reversal.

Volume analysis revealed clear confirmation during the rally, with the largest volume spike at 3.02 million REI on the candle that closed at 0.01797. Notional turnover also increased sharply during this period, reinforcing the strength of the move. No clear divergence between price and volume was observed, which supports the idea of a sustainable upward move.

Backtest Hypothesis

Given the strong support and resistance levels identified and the positive momentum confirmed by MACD and RSI, a potential backtesting strategy could involve entering long positions on a breakout above 0.0178 with a stop-loss placed below 0.01765. A take-profit target could be set at the 0.01802 resistance level or the 61.8% Fibonacci extension at 0.01797. The strategy would benefit from the current bullish structure, provided that the price remains above the 20SMA and RSI remains above 50. This approach would aim to capture a continuation of the rally while managing risk with well-defined entry and exit levels.