Market Overview: Ravencoin/Tether (RVNUSDT) - Strong Rally with Volatility

• Price surged to 0.01364 before consolidating at 0.01353, with strong bullish momentum.
• Volume spiked during the afternoon, confirming the breakout above key resistance.
• RSI crossed into overbought territory while MACD showed strong positive divergence.
• Bollinger Bands expanded with price near the upper band, indicating high volatility.
• Fibonacci retracement levels suggest potential pullback to 0.01346 if consolidation fails.

Ravencoin/Tether (RVNUSDT) opened at 0.01298 on 2025-09-17 at 12:00 ET and closed at 0.01353 on 2025-09-18 at 12:00 ET, reaching a high of 0.01364 and a low of 0.01292. Total volume across the 24-hour period was approximately 102,925,639 RVN, with a notional turnover of $1,399,678. The pair demonstrated strong bullish momentum and volatility, particularly in the late afternoon and early evening hours.

Structure & Formations

The price action formed a strong ascending pattern with clear support at 0.01298 and resistance at 0.01364. A bullish engulfing pattern was visible around the 19:00–20:00 ET window, confirming the breakout. A potential bearish divergence appeared in the final hour of the report as price pulled back slightly, suggesting a possible consolidation phase. The psychological level of 0.01350 became a pivot point during the day, with price bouncing off this level multiple times.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both showed a bullish bias, with the 20-SMA crossing above the 50-SMA in the early evening, signaling a potential continuation of the upward trend. On a broader scale, the 50- and 200-day moving averages were both bullish, suggesting that the longer-term trend remains supportive for RVNUSDT.

MACD & RSI

The MACD histogram showed a strong positive divergence through the late afternoon, particularly from 19:00 to 21:00 ET, indicating increasing bullish momentum. The RSI crossed above 70 during the same window, entering overbought territory, and remained there for several hours. This suggests that while the rally was strong, traders may be cautious of an overextended move and potential pullback.

Bollinger Bands

Bollinger Bands expanded significantly during the price breakout, with RVNUSDT reaching the upper band at 0.01364. This expansion indicates rising volatility and a strong conviction in the bullish move. Price has since retracted slightly but remains above the 20-period moving average, maintaining a bullish bias.

Volume & Turnover

Trading volume spiked to over 8 million RVN during the 19:00–21:00 ET window, coinciding with the breakout above 0.01350. Notional turnover also increased during this period, showing strong confirmation of the move. Volume declined in the last few hours as price consolidated, indicating a possible pause in aggressive buying.

Fibonacci Retracements

Applying Fibonacci retracement levels to the major swing from 0.01298 to 0.01364, the 61.8% level sits at 0.01346, which has acted as a recent area of support. If the current consolidation breaks and the price drops below this level, further pullback to 0.01337 (38.2%) may follow. A sustained close above 0.01350 could target the next Fibonacci level at 0.01364, potentially extending the bullish trend.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions when the price breaks above the 61.8% Fibonacci retracement level with confirmation from a bullish engulfing pattern and increasing volume. Traders may consider taking profits at the 0.01364 level or exiting if the RSI crosses back below 70, indicating waning momentum. Stop-loss could be placed at the next Fibonacci support level to manage downside risk. This strategy aligns with the observed price action and momentum indicators from the past 24 hours.