Market Overview for Reserve Rights/Tether (RSRUSDT)

• Price tested key resistance at $0.005675 but reversed sharply on heavy volume.
• Volatility expanded as price dropped 1.3% over 9 hours from peak to trough.
• MACD turned negative at 04:45 ET, confirming bearish momentum reversal.
• RSI entered oversold territory near 30, suggesting near-term bounce potential.
• Volume surged past $70 million at 19:00 ET before fading as sellers took control.

Reserve Rights/Tether (RSRUSDT) opened at $0.005527 on 2025-10-27 12:00 ET and closed at $0.005407 on 2025-10-28 12:00 ET. The 24-hour range was $0.005544 (high) to $0.00528 (low), with total volume of 219,130,328 RSR and turnover of $1,204,287. Price fell -2.4% over the period, with bearish momentum dominating the latter half of the 24-hour window.

The 15-minute chart shows a key bearish engulfing pattern forming at $0.005675 on October 27 at 17:00 ET, confirming a shift in sentiment. A subsequent bearish continuation occurred at $0.005451 to $0.005328 over the early morning hours on October 28. A potential support level emerged near $0.005402–$0.005409, where price consolidated after the sharp selloff. The 20-period and 50-period moving averages crossed below the price trend, confirming the downward bias.

RSI declined to 31 by 07:00 ET on October 28, suggesting oversold conditions may attract short-term buyers. MACD crossed into negative territory at 04:45 ET, with the signal line remaining bearish. Bollinger Bands widened during the early morning selloff, with price finding a floor near the lower band at $0.005323 before rebounding slightly. A bearish divergence was noted between the falling price and volume, with the most intense selling volume occurring before the price bottomed.

Fibonacci retracement levels suggest the 61.8% level at $0.005422 is a potential short-term resistance if the price rebounds. On the daily chart, the 50/100/200-period moving averages are bearishly aligned, indicating longer-term risk for traders.

Backtest Hypothesis: A short-side backtest using the bearish engulfing pattern could be initiated by entering a position at the close of the engulfing candle, with a stop loss above the high of the pattern. The target could be a 38.2–61.8% Fibonacci retracement of the subsequent bullish swing. However, due to the current data source limitations, the backtest for RSRUSDT cannot be executed without direct price data from 2022–2025. Alternative data sources or a switch to a supported exchange pair is recommended to validate the strategy.