Market Overview for Radiant Capital/Tether (RDNTUSDT)

Summary
• Price action shows sharp bearish momentum with a 6.2% decline over 24 hours.
• RSI entered oversold territory, hinting at potential short-term buying interest.
• Volatility expanded significantly, with Bollinger Bands widening after a consolidation phase.
• Large 5-minute volume spikes align with price drops, suggesting aggressive selling pressure.
• A key support level appears to form near 0.0097, coinciding with a Fibonacci 61.8% retracement level.

Radiant Capital/Tether (RDNTUSDT) opened at 0.01034 and closed at 0.00969 after hitting a high of 0.01035 and a low of 0.00959 over the 24-hour period. Total volume reached 16.2 million, with notional turnover at $1.58 million. The asset displayed a pronounced downward trend driven by sustained selling pressure and growing bearish conviction.

Structure & Formations

Price action on the 5-minute chart reveals a sharp breakdown from key resistance levels around 0.01025 and 0.01015, with a series of engulfing bearish patterns confirming the trend. A large bearish engulfing pattern on the early morning session (ET 05:00) marked the start of a significant selloff.

Support appears to be forming near 0.0097, where price has bounced twice over the past 48 hours and aligns with a Fibonacci 61.8% retracement level from the recent downtrend.

Moving Averages and Momentum

On the 5-minute chart, price has closed below both the 20 and 50-period moving averages, reinforcing the bearish bias. The 50-period MA is now acting as a dynamic resistance, with prices failing to retest it. RSI entered oversold territory (~28), suggesting a possible short-term bounce or countertrend buying activity. However, the MACD has remained bearish with declining histogram bars, indicating weakening momentum despite oversold conditions.

Volatility and Bollinger Bands

Volatility expanded sharply from the morning session onwards, with Bollinger Bands widening significantly after a period of consolidation. Price spent much of the session near the lower band, especially after the breakdown below 0.01005. This suggests a strong risk-on bearish continuation if price remains under 0.0097. A contraction in volatility could precede a reversal, but the current trajectory points to further downside.

Volume and Turnover

Volume spiked during critical breakdowns, especially around 05:00 ET when price dropped from 0.01011 to 0.00998, and again at 06:30 ET when it fell from 0.00983 to 0.00969. Notional turnover rose in tandem with these price declines, confirming bearish strength. A divergence between rising volume and a potential price bounce near 0.0097 could provide early signals for a reversal. However, current volume patterns suggest continuation rather than reversal.

Forward-Looking Observations and Risk

Price may test the 0.0095–0.0096 support cluster in the next 24 hours, where a bounce could trigger a retracement toward the 0.0098–0.0099 level. However, a breakdown below 0.0095 could extend the decline. Investors should remain cautious, as the bearish bias is well-anchored by both price action and momentum. A sharp rebound is unlikely without a significant shift in volume and sentiment.