Market Overview for Radworks/Tether USDt (RADUSDT)

• Price tested key resistance at $0.70 but retreated, closing at $0.689.
• RSI and MACD signal weakening bullish momentum with no overbought conditions.
• Bollinger Bands show moderate volatility with price near the midline.
• On-chain volume spiked at $0.706 high, confirming failed breakout.
• Turnover remained steady, with no major divergence between volume and price.

Radworks/Tether USDt (RADUSDT) opened at $0.693 on 2025-09-10 at 12:00 ET, reaching a high of $0.706 before retreating to a low of $0.683 and closing at $0.689 on 2025-09-11 at 12:00 ET. The 24-hour trading volume amounted to 915,700 tokens, with a notional turnover of approximately $606,000.

The 15-minute chart shows a failed breakout above $0.70, with a strong bearish reversal evident in the candle forming at $0.706. The price has since consolidated between key support at $0.686–$0.688 and resistance at $0.695. A bearish engulfing pattern formed at the peak, followed by a long lower shadow doji near $0.695, indicating indecision and a potential trend reversal.

20-period and 50-period moving averages are converging downward, with the 50-period line acting as a dynamic resistance. The 100-period and 200-period lines on the daily chart continue to slope bearishly, reinforcing the broader downtrend context.

MACD remains in negative territory, with a bearish crossover between the signal and line occurring shortly after the $0.706 high. RSI dipped below 50 and is currently at 45, indicating a shift in momentum toward the bearish side. Neither overbought nor oversold conditions are present, suggesting a balanced but cautious sentiment.

Bollinger Bands are slightly wider, reflecting moderate volatility. The price has been oscillating between the midline and the lower band, with the 20-period SMA inside the band but trending downward. This suggests that while volatility has increased, the downward trend remains intact.

Volume spiked during the failed breakout at $0.706, with over 200k tokens traded in that candle. However, volume has since declined, with most trading occurring below the $0.695 level. Notional turnover remains consistent with no signs of divergence between price and volume, suggesting the current consolidation is well-supported.

Fibonacci retracement levels on the 15-minute chart show price finding support at the 38.2% level of the recent $0.683–$0.706 swing. On the daily chart, the 61.8% retracement aligns with key support at $0.686, a level that has been tested multiple times over the 24-hour period.

Looking ahead, the next 24 hours may see a test of the $0.686 support. A break below this could accelerate the short-term downtrend toward $0.682. Conversely, a retest and rejection above $0.695 could signal a potential short-covering rally. Investors should remain cautious, especially if the RSI fails to cross above 50 or the MACD remains in bearish territory.

A bearish continuation appears likely if the $0.686 support holds, but traders should remain alert for a potential short-term bounce if volume and turnover confirm a bullish reversal above $0.695.

Backtest Hypothesis

The proposed backtest strategy involves entering a short position on a bearish engulfing pattern confirmed by a close below the 20-period moving average, with a stop-loss placed at the high of the engulfing pattern and a target at the next Fibonacci support level (38.2% or 61.8%). This approach aligns with the observed bearish reversal at $0.706 and could be further validated by applying it to historical data across similar price structures. The effectiveness of this strategy would depend on the accuracy of volume confirmation and the responsiveness of RSI and MACD to trend reversals.