Market Overview: Radworks/Tether (RADUSDT) – 2025-09-20

• Price opened at $0.672, surged to $0.704, and settled near $0.682 amid high-volume volatility.
• Overbought RSI levels and diverging price-volume action suggest possible near-term correction.
• A bullish engulfing pattern formed on the final 15-minute candle, indicating potential short-term buying interest.
• Volatility spiked with widening Bollinger Bands, reflecting heightened market uncertainty.
• Turnover exceeded $600,000 with key support identified at $0.675 and resistance at $0.68–0.682.

RADUSDT opened at $0.672 (12:00 ET - 1) and traded as high as $0.704, with a 24-hour low of $0.671 before closing at $0.682 (12:00 ET). Total volume reached 1,093,403 tokens, and notional turnover exceeded $601,000, marking a sharp increase in market activity.

Structure and formations show the price formed a bullish engulfing pattern on the final 15-minute candle, confirming a short-term rebound from the $0.675 level. Key support appears at $0.675 (tested multiple times), while resistance is clustering between $0.68 and $0.682. A doji candle formed near $0.677, hinting at indecision and potential consolidation.

On the 15-minute chart, the 20-period and 50-period moving averages crossed below the price, confirming bullish momentum. The MACD line rose above the signal line, while RSI reached overbought territory at 70, suggesting exhaustion in the rally. Bollinger Bands widened significantly during the peak at $0.704, indicating heightened volatility and potential for a reversion to the mean.

Volume and turnover spiked sharply during the $0.672–$0.704 range, but price action diverged from the volume surge in the final two hours, suggesting a potential pullback. Fibonacci retracement levels applied to the key $0.671–$0.704 swing show 61.8% at $0.687 and 38.2% at $0.682, where the price closed. The 61.8% level may act as a key resistance in the near term.

Backtest Hypothesis
The backtest strategy involves entering a long position when the 20-period moving average crosses above the 50-period line and the RSI is above 50, with a stop-loss placed below the most recent swing low. Given the recent bullish engulfing pattern and MACD crossover, the strategy could have captured the recent rally from $0.672 to $0.704. However, the overbought RSI and price-volume divergence suggest caution for potential profit-taking or correction before the next 24-hour period.