Summary
• Price broke out of a consolidation range on rising volume near 0.00931.
• A bullish engulfing pattern formed at 0.00914-0.00922 after a sharp pullback.
• Volatility surged during the early morning session with a 4.6% range (0.00922–0.00974).
• RSI suggests potential overbought conditions as of 08:15–08:30 ET.
• Bollinger Band expansion indicates heightened short-term uncertainty.
Radiant Capital/Tether (RDNTUSDT) opened at 0.00912, peaked at 0.00993, and closed at 0.00941 with a 24-hour volume of 41,845,056 and turnover of $38,949,539. The pair moved within a 4.6% range early morning, before stabilizing into a more defined consolidation pattern.
Structure & Formations
Price broke out of a 5-minute consolidation pattern between 0.00912 and 0.00931, forming a bullish engulfing candle on the 17:45–18:00 ET 15-minute timeframe. A bearish doji emerged at 0.00932 during the early hours of 00:45–01:00 ET, suggesting potential near-term resistance. Key support levels appear to be forming around 0.00914–0.00922, as well as 0.00904–0.00911, while resistance is emerging near 0.00932 and 0.00954.
Moving Averages
On the 5-minute chart, the 20-period MA crossed above the 50-period MA, indicating a potential short-term bullish trend. Daily MAs (50/100/200) remain in a downtrend, suggesting longer-term bearish pressure remains intact.
Momentum & Indicators
RSI climbed into overbought territory during the 08:15–08:30 ET period, peaking near 68 before retreating. MACD showed a positive crossover during the breakout phase but has since flattened, indicating waning momentum.
Price remained within a Bollinger Band expansion from 0.00922 to 0.00974, with volatility easing slightly after 09:00 ET.
Volume & Turnover
Volume spiked sharply during the breakout at 08:15–08:30 ET, reaching 22,025,387, and again during the 08:45–09:00 ET correction. Notional turnover confirmed the price action during these periods, showing no significant divergence.
Fibonacci Retracements
Fibonacci levels applied to the key 5-minute swing from 0.00912 to 0.00931 identified a 38.2% retracement at 0.00924 and a 61.8% retracement near 0.00919. These levels appear to be holding as support. On the daily swing, the 61.8% level near 0.00934 also acted as a short-term ceiling.
Looking ahead, RDNTUSDT could test the 0.00954–0.00976 resistance range if bullish momentum holds. A drop below 0.00911 could trigger a retest of 0.00904 support. As always, monitor for signs of divergence in RSI and volume for early reversal signals.
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