Market Overview for Ravencoin/Tether USDt (RVNUSDT) – 24-Hour Summary as of 2025-09-11

• Price for RVNUSDT declined slightly from $0.01357 to $0.01332, with intraday high of $0.01360 and low of $0.01327.
• Volume spiked in the 15:45–17:00 ET timeframe, while turnover remained relatively consistent.
• A bearish divergence was observed in RSI, hinting at weakening bullish momentum.
• Price tested key support at $0.01342, with mixed candlestick behavior and limited rebound.
• Volatility expanded during the midday selloff, pushing price outside the lower Bollinger Band.

Ravencoin/Tether USDt (RVNUSDT) opened at $0.01357 on 2025-09-10 at 12:00 ET and closed at $0.01332 as of 2025-09-11 at 12:00 ET. During the 24-hour period, the pair reached a high of $0.01360 and a low of $0.01327. Total trading volume amounted to ~11.6 million RVN, with notional turnover of ~$1,560,000.

Structure & Formations

The 24-hour OHLC data shows a mixed but generally bearish bias, with a key support zone forming around $0.01342–$0.01349. A large bearish candle during the 12:45–13:00 ET window (close at $0.01345, open at $0.01354) marked a notable engulfing pattern, which may signal a potential reversal. However, this failed to hold as price continued lower. A doji at $0.01353 during the 18:00–18:15 ET window indicates indecision in the market.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs crossed to the downside in the midday sell-off, confirming the bearish shift in momentum. Daily averages (50/100/200) were not fully computed within this 24-hour window but appear to have held above current price levels, suggesting a bearish alignment for the longer term.

MACD & RSI

The MACD line turned negative in the late morning and remained bearish for the remainder of the session, with a negative histogram indicating strengthening bearish momentum. RSI dipped below 30 during the 12:30–13:45 ET window, signaling oversold conditions, but the rebound was limited and failed to trigger a sustained bullish move. A bearish divergence formed as price made higher lows while RSI made lower highs, suggesting further downside could be in play.

Bollinger Bands

Bollinger Bands showed a contraction in the early morning before the midday selloff, followed by a significant expansion. Price fell below the lower band during the 12:45–13:15 ET timeframe, indicating a sharp increase in volatility. This could imply either a short-term bounce or further consolidation near the support zone. The bands currently suggest a high probability of range-bound behavior in the near term if the support holds.

Volume & Turnover

Volume surged sharply during the midday sell-off, particularly in the 12:45–14:30 ET window, where notional turnover increased by ~$100,000, with the largest single candle being a 15-minute sell-off at $0.01342. This volume spike confirmed the bearish momentum, rather than diverging from it. The increased volume suggests that institutional or large-scale traders may have initiated short positions during this period.

Fibonacci Retracements

Applying Fibonacci to the recent 15-minute high of $0.01360 and low of $0.01327, key retracement levels include $0.01348 (38.2%) and $0.01336 (61.8%). The price found initial rejection near $0.01348, which may serve as a potential support area in the coming session. The $0.01336 level appears as a critical zone for near-term bearish continuation.

Backtest Hypothesis

The bearish engulfing pattern and bearish divergence on RSI align with a strategy that uses engulfing patterns and RSI divergence as entry triggers for short positions. A backtest based on this setup might involve entering a short trade at the close of the engulfing candle, with a stop-loss placed just above the high of the pattern, and a target aligned with the nearest Fibonacci level. Given the volume confirmation and RSI divergence, this scenario appears to have a high probability of success in a bearish market.