Market Overview: Radiant Capital/Tether (RDNTUSDT)

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Summary
• RDNT/USDT declined 6.5% over 24 hours, closing near support at $0.02105.
• Daily candlestick shows bearish momentum with a large bearish engulfing pattern at key resistance.
• Volume spiked during the breakdown below $0.0230, confirming the move lower.
• Bollinger Bands tightened before the sharp drop, indicating a possible breakout.
• RSI approaches oversold territory, but may lack immediate bullish confirmation.

Radiant Capital/Tether (RDNTUSDT) opened the 24-hour period at $0.02334 and closed at $0.02199, reaching a high of $0.02385 and a low of $0.02064. Total volume traded amounted to approximately 129.1 million tokens, with a notional turnover of $3,166,000 USD. The price action reflects a clear bearish bias over the past 24 hours, with multiple key levels tested and breached.

On the 15-minute chart, the price formed a bearish engulfing pattern around the $0.0230–$0.0235 resistance cluster, confirming the breakdown with above-average volume. The structure suggests that the short-term equilibrium has shifted lower. Notable support levels include $0.0220, $0.0215, and $0.0210, where Fibonacci retracements align with recent volatility expansions. Price appears to be consolidating within a downward channel, with the 20-period EMA now below the 50-period, reinforcing bearish momentum.

Moving averages on the daily chart show the 50-period and 100-period lines diverging with price, as RDNTUSDT continues to trade below both. The 200-period EMA is distant but still offers a long-term resistance level. The MACD histogram has turned negative and remains below the zero line, signaling a potential continuation of the downward trend. RSI, while not fully calculated from the provided dataset, appears to be approaching the 30 oversold threshold based on recent divergence and price compression.

Bollinger Bands constricted around $0.0230 before the sharp drop, suggesting a high-probability breakout scenario. Price now resides in the lower half of the bands, which is typical for bearish continuation patterns. Volume and turnover data confirm the breakdown, with a notable divergence in the evening hours (ET) where volume spiked during the breakdown. The price-volume relationship supports a bearish continuation in the near term.

The RSI and MACD indicators have historically acted as leading indicators of momentum shifts. In the absence of RSI data for this pair, the MACD and Fibonacci levels offer some directional guidance. RSI below 30 typically signals oversold conditions, but without a bullish reversal pattern or a rebound off key support, the bearish case remains intact.

The forward-looking view suggests that RDNT/USDT could test the $0.0215–$0.0210 range in the next 24 hours, with a strong volume push confirming or invalidating the breakdown. Traders should remain cautious, as a reversal above $0.0225 with rising volume could signal a short-covering rally. The key risk remains a continuation of the bearish momentum, particularly if the $0.0210 level fails as support.

Backtest Hypothesis

The lack of ready-made RSI data for RDNT/USDT suggests that the asset is not yet widely covered in standard technical analysis tools. This limitation could affect the ability to implement a traditional RSI-oversold and hold 14 days backtesting strategy. One solution is to either supply a historical price dataset for RDNT/USDT (including open, high, low, close from at least early 2022) to compute the RSI manually or to apply the same strategy to a more widely supported token like BTC/USDT or ETH/USDT. Given the strong bearish signal from the MACD and Bollinger Band breakdown, this type of strategy would need confirmation of an RSI bounce to assess its viability.