Market Overview for Ravencoin/Tether (RVNUSDT)

Summary
• Price tested key resistance at 0.00784 and reversed lower, forming bearish engulfing patterns.
• RSI dipped into oversold territory below 30, suggesting potential for near-term rebound.
• Bollinger Bands contracted at 0.00761–0.00764, indicating possible breakout volatility.
• Volume surged during the 21:00–22:00 ET downtrend, confirming bearish momentum.
• 61.8% Fibonacci level at 0.00759 is now critical for short-term support.

Ravencoin/Tether (RVNUSDT) opened at 0.00778 on 2026-01-17 12:00 ET, reached a high of 0.00802, and closed at 0.00762 by 12:00 ET on 2026-01-18. Total volume was 225,230,681.7, and notional turnover was $1,751,896. Price action reflected bearish bias, with a key reversal at 0.00784 and bearish consolidation below 0.0078.

Structure & Formations

Key support levels are emerging at 0.00759 (61.8% Fibonacci retracement) and 0.00757, with resistance near 0.00764. A bearish engulfing pattern formed at 0.00784, and the price action has been consolidating into a descending triangle. A breakout below 0.00759 could confirm a leg lower.

Moving Averages

The 20-period and 50-period 5-minute moving averages are both bearish, with the 50-period line below the 20-period. On the daily chart, the 50-day moving average at 0.00778 has acted as a pivot, with the 100- and 200-day lines slightly bearish. Price remains below critical moving averages, suggesting downward bias.

MACD & RSI

The RSI has dropped into oversold territory, currently around 28, indicating potential for a bounce. The MACD is bearish and trending lower, with a negative histogram that suggests continued selling pressure. However, the oversold RSI may signal short-term countertrend buying.

Bollinger Bands

Bollinger Bands have narrowed significantly between 0.00761 and 0.00764 in the last two hours of trading, pointing to a potential breakout. Price has remained near the lower band since 0.00761, suggesting accumulation could be forming. A move above 0.00764 may indicate a short-term reversal.

Volume & Turnover

Volume increased sharply during the 21:00–22:00 ET timeframe, coinciding with the breakdown from 0.00784. Notional turnover peaked at $14,881 during this period, confirming the bearish move. Price and turnover have aligned well during the sell-off, reinforcing bearish signals.

Fibonacci Retracements

Key Fibonacci retracement levels are at 0.00759 (61.8%), 0.00764 (38.2%), and 0.00767 (23.6%). The 0.00759 level has shown significant rejection and may now become a pivot for near-term support. A test and break below this level could lead to further downside.

RVNUSDT appears to be setting up for a near-term test of 0.00753–0.00757 if the trend continues, with a potential bounce from the 61.8% Fibonacci level. Investors should monitor volume during this phase and consider small countertrend entries near oversold levels. As always, volatility remains high, and sharp reversals are possible within a tight range.