Market Overview for Ravencoin/Tether (RVNUSDT) on 2025-09-23

• • •

• RVN/USDT broke above key resistance, closing 0.004% higher on the day.
• A bullish breakout pattern emerged after consolidating within a tight range.
• Volume increased by 145% in the final 4 hours, confirming the price action.
• RSI and MACD signaled strong momentum, with RSI trending into overbought territory.
• Price tested the upper Bollinger Band, indicating heightened volatility in the session.

Ravencoin/Tether (RVNUSDT) opened at $0.01188 at 12:00 ET - 1 and closed at $0.01192 at 12:00 ET, reaching a high of $0.01201 and a low of $0.01169 during the 24-hour period. Total volume traded reached 59,996,463.20 units with a notional turnover of approximately $713,320.

Structure & Formations

RVNUSDT spent most of the session consolidating between $0.01173 and $0.01191 before breaking out in the afternoon with a strong bullish bias. A Bullish Engulfing Pattern formed at $0.01196 around 13:45 ET, signaling a reversal of the prior bearish trend. Additionally, a Bullish HARAMI pattern was observed in the early morning at $0.01186, foreshadowing the breakout. Key support levels include $0.01175 and $0.01180, while resistance levels are at $0.01196 and $0.01201.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs crossed positively, confirming a bullish bias. The price has been trading above both indicators for the past 4 hours. On a daily scale, the 50-period SMA is at $0.01183, and the 100-period is at $0.01180, with the 200-period at $0.01178. The price currently sits above the 200-SMA, indicating a potential continuation of the bullish trend.

MACD & RSI

The MACD crossed above the signal line in the early afternoon, with a histogram showing increasing bullish momentum. The RSI reached 62.4 by the close, entering overbought territory, but it remained below 70, indicating the move is still within a healthy range. Both indicators confirm strong momentum, though overbought conditions suggest a potential short-term pullback.

Bollinger Bands

Price traded within a tight range during most of the session, but volatility increased sharply in the afternoon. By 15:00 ET, the upper Bollinger Band was at $0.01201, and the lower at $0.01176. The closing price of $0.01192 was near the upper band, suggesting elevated volatility and a bullish breakout.

Volume & Turnover
Volume spiked dramatically in the final 4 hours of the session, with over 18 million units traded between $0.01190 and $0.01201. This increase coincided with a strong price rise, confirming the bullish move. Notional turnover also rose to its highest level during the same period, showing strong buying interest and conviction.

Fibonacci Retracements

On the 15-minute chart, the price broke through the 61.8% retracement level at $0.01196 and approached the 78.6% level at $0.01201. A daily Fibonacci analysis shows the price is currently near the 38.2% retracement level of a previous bearish move, suggesting potential for further upward movement if it holds above $0.01195.

Backtest Hypothesis

A potential backtest strategy could involve entering long at a breakout above the 61.8% Fibonacci level ($0.01196) confirmed by a bullish candlestick pattern and increasing volume. A stop loss could be placed below the prior swing low at $0.01186, with a target set at the 78.6% retracement level of $0.01201. This approach would aim to capture momentum-driven moves on a tight range break, with volume and pattern confirmation as entry filters.