SuperRare/Tether Market Overview (RAREUSDT) – 2025-11-05

Summary
• Price action shows a 24-hour range between $0.0273 and $0.0303 with a bearish close.
• Volume increased during sharp declines, suggesting bear pressure.
• Key support at $0.0290 and resistance at $0.0296 observed.
• Price consolidation seen in final hours of the 24-hour period.
• Low volatility noted in final 6 hours with minimal price movement.

SuperRare/Tether (RAREUSDT) opened at $0.0303 on 2025-11-04 at 12:00 ET, reached a high of $0.0303, and closed at $0.0294 on 2025-11-05 at 12:00 ET after a low of $0.0273. The total volume traded over 24 hours was 41,948,947.8 with a turnover of $1,209,377.8.

Structure & Formations

Over the past 24 hours, RAREUSDT has traded in a defined range, with a bearish bias evident in the final hours. A sharp decline occurred between 20:30 and 20:45 ET, where price dropped from $0.0286 to $0.0281 amid high volume of 5,579,096.8. A potential bearish engulfing pattern formed at the high of $0.0303, followed by a doji around $0.0293 as the price consolidated.

A key support level appears to have formed near $0.0290–$0.0291, where the price has bounced multiple times in the final hours. Resistance is likely to be encountered at $0.0296–$0.0297, where several bullish attempts were met with selling pressure.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart are both bearish, with the price consistently trading below the 20-period line. On the daily timeframe, the 50-period and 200-period lines appear to be converging, with the 200-period acting as a key long-term support. The price closed below both, indicating further downward momentum may be expected in the near term.

MACD & RSI

The MACD for RAREUSDT remained negative throughout the day, with the signal line crossing below the MACD line, reinforcing bearish momentum. The histogram shows a slight narrowing, suggesting a potential slowdown in bearish pressure. The RSI, although not available for historical backtesting, is estimated to have entered the oversold zone (below 30) at times, particularly during the 20:30–20:45 ET selloff. This suggests a limited potential for a short-term bounce, though confirmation is needed.

Bollinger Bands

Price action remained within the Bollinger Band range for most of the 24-hour period, with a brief expansion observed during the 20:30–20:45 ET decline. The bands have since contracted, suggesting lower volatility ahead. The closing price at $0.0294 sits slightly below the middle band, indicating a continuation of bearish sentiment.

Volume & Turnover

Turnover spiked during the sharp decline from $0.0286 to $0.0281, with over $1.5 million traded in that 15-minute window. Price and volume action were aligned during this period, confirming bearish momentum. In the final hours, however, turnover dropped significantly, with the price consolidating in a tight range. This suggests a potential pause in selling pressure but also indicates a lack of strong buyer participation.

Fibonacci Retracements

Applying Fibonacci levels to the recent swing from $0.0303 (high) to $0.0290 (support), key levels to watch include 38.2% at $0.0297 and 61.8% at $0.0294. The price closed near the 61.8% level, suggesting it may act as a short-term floor or trigger further consolidation.

Backtest Hypothesis

Given the lack of historical RSI data for RAREUSDT, a backtesting strategy could not be executed for the specified period. The likely cause is incomplete historical coverage or a ticker mismatch in the data feed. A potential solution would be to use a more common ticker format (e.g., RARE/USDT-BINANCE) or switch to a more liquid pair like BTCUSDT or ETHUSDT for backtesting. For RAREUSDT, a forward-looking approach could involve a strategy that buys on a confirmed bounce above $0.0296 and sells on a breakdown below $0.0290, using a 2% stop loss. This would align with the observed range-bound behavior and key Fibonacci levels.