Market Overview for Radiant Capital/Tether (RDNTUSDT) – 24-Hour Analysis

• Price surged 14% over 24 hours, breaking key resistance and forming bullish engulfing patterns.
• Volume spiked dramatically during the rally, confirming upward momentum with strong turnover.
• RSI reached overbought territory and diverged from price, signaling potential pullback risk.
• Bollinger Bands expanded, reflecting heightened volatility and potential for consolidation.
• Fibonacci levels suggest 0.02237 (61.8%) as near-term resistance and 0.02195 (38.2%) as key support.

Radiant Capital/Tether (RDNTUSDT) opened at $0.02153 on October 6 at 12:00 ET and surged to a 24-hour high of $0.02222 before closing at $0.02201 at 12:00 ET on October 7. The pair traded between $0.02080 and $0.02222, with a 24-hour volume of 25,399,884 and notional turnover of $542,342. The price action features a strong reversal pattern after a prolonged sell-off.

The 15-minute chart shows a clear bullish breakout, with key support levels forming around $0.02195 and resistance emerging near $0.02237. A bullish engulfing pattern appears at the breakout point, reinforcing the upside case. However, RSI hit overbought territory and failed to confirm a new high alongside price, hinting at potential exhaustion. The MACD remains in positive territory, but a narrowing histogram suggests waning momentum.

Bollinger Bands have widened, indicating heightened volatility and a period of price discovery. The current price sits near the upper band, suggesting overextended conditions and a possible pullback into the channel for consolidation. On the 20/50 EMA crossover on the 15-minute chart, the price is above both, with a healthy slope indicating sustained upward bias.

Fibonacci retracement levels drawn from the recent 15-minute swing show that the current price is approaching the 61.8% level at $0.02237, which may offer resistance. A retest of $0.02195 (38.2%) is a likely near-term support zone. Volume spiked significantly during the rally, particularly around the $0.02201–$0.02222 range, confirming the move’s strength. However, a divergence between price and RSI suggests caution for short-term traders.

Backtest Hypothesis
The described backtesting strategy relies on a combination of RSI overbought divergence and Fibonacci levels to time exits or take profits. Applying this approach to the recent move would suggest a potential target near the 61.8% Fibonacci level at $0.02237 and a stop-loss near $0.02195. A backtest would evaluate whether exiting on the first bearish divergence in RSI while holding through a retest of the 38.2% level would have yielded favorable risk/reward outcomes. This method may offer traders a structured approach to capitalizing on short-term momentum shifts.