Market Overview for Ravencoin/Tether (RVNUSDT) as of 2025-09-19

• Price declined from 0.01361 to 0.01290, forming bearish momentum with strong selling in the 15–45 hour ET window.
• Volume spiked above 700,000 at 10:45 PM ET and 3:45 PM ET, signaling increased distribution and bearish pressure.
• RSI oversold at 24-hour low suggests potential rebound, but trend remains bearish with no clear reversal signs.
• Bollinger Bands show increasing contraction post 9 AM ET, signaling possible breakout or breakdown.
• Fibonacci 61.8% level at 0.01305 may hold short-term support, with 0.01288 as next key test.

Ravencoin/Tether (RVNUSDT) opened at 0.01353 at 12:00 ET-1 and traded between 0.01361 and 0.01288 over the 24-hour period, closing at 0.01290 at 12:00 ET. Total volume was 52.5 million RVN, with turnover reaching $6.9 million. The pair has experienced a notable bearish bias, with key resistance at 0.01315–0.01320 and support at 0.01288–0.01290.

Structure & Formations

Price has shown a clear bearish trend from the 0.01361 high, forming multiple bearish candlestick patterns, including a hanging man at 0.01306, and a bearish engulfing pattern at 10:45 PM ET. A key support level appears to be forming at 0.01290–0.01288, with a potential breakdown below this level expected if bearish pressure intensifies.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both bearishly aligned, with price closing below both. On the daily chart, the 50, 100, and 200-period moving averages are also bearish, with the 50/100 crossover reinforcing downward bias. Price remains well below all major MAs.

MACD & RSI

The MACD has remained negative throughout the period, with a recent bearish divergence forming after a brief rally near 0.01316. RSI has pushed into oversold territory at 24, suggesting potential short-term bounce, but momentum remains bearish, with no signs of reversal.

Bollinger Bands

Bollinger Bands show a period of volatility contraction from 9:00 AM to 4:00 PM ET, which may lead to a breakout. Price has closed near the lower band, indicating a strong bearish bias. A breakout above the mid-band would signal a potential reversal, though this appears unlikely without a catalyst.

Volume & Turnover

Volume spiked at 10:45 PM ET (700,000 RVN) and again at 3:45 PM ET (4.1 million RVN), coinciding with key price declines. Turnover also surged during these periods, confirming bearish selling. No significant divergence between price and volume was observed, reinforcing the bearish case.

Fibonacci Retracements

Fibonacci retracement levels applied to the 0.01361–0.01290 swing show 61.8% at 0.01305 and 38.2% at 0.01322. The 0.01305 level has been tested twice and may act as a short-term support. A breakdown below 0.01290 would target the next 61.8% level at 0.01288.

Backtest Hypothesis

A potential backtesting strategy involves entering a short position upon a bearish engulfing pattern forming near or above the 0.01310 level, with a stop-loss above the 0.01322 (38.2% Fib) and a target of 0.01290 (61.8% Fib). The strategy would exit the trade after a close below 0.01288 or if RSI rebounds above 30 with rising volume. This setup aligns with the observed bearish momentum and key Fibonacci levels, offering a high-probability trade during a period of low volatility.