Market Overview for Raydium/Tether (RAYUSDT) on 2025-10-03

• RAYUSDT surged 7.2% in 24 hours, breaking above $3.00 amid strong volume and bullish momentum.
• A bullish engulfing pattern formed near $3.00, with high conviction buying evident in 15-minute data.
• RSI and MACD signaled strong upward momentum, but no overbought conditions were seen yet.
• Volatility increased with widening Bollinger Bands, showing price consolidating above the upper band.
• Turnover spiked during late ET hours, suggesting accumulation or speculative buying.

RAYUSDT opened at $2.919 on 2025-10-02 at 12:00 ET and closed at $2.958 on 2025-10-03 at 12:00 ET, with a high of $3.065 and a low of $2.919. The 24-hour trading volume was 1,402,999.5, and the total turnover was $4,164,021.20.

Structure & Formations

The 15-minute chart for RAYUSDT displayed a strong bullish trend over the past 24 hours, with the price forming multiple higher highs and higher lows. A key support level was identified around $2.936, where price bounced on several occasions. A notable bullish engulfing pattern was observed around $3.00, with a strong close at $3.005 after opening at $2.992. Additionally, a potential resistance level emerged near $3.05 as price attempted to consolidate after reaching this area. A doji candle at $3.065 indicated indecision and potential short-term consolidation.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were closely aligned and trending upward, reinforcing the bullish bias. The 50-period MA was above the 20-period MA, forming a golden cross in early ET hours. On the daily chart, the 50-period MA crossed above the 100-period MA, further validating the upward momentum. However, the 200-period MA remained a psychological resistance near $2.95.

MACD & RSI

The MACD line turned positive and remained above the signal line, with a strong histogram expansion during the late ET hours, indicating increasing bullish momentum. The RSI moved into the overbought zone, reaching 62–65, but had not yet reached extreme levels (e.g., above 70), suggesting continued upward potential with caution. The divergence between price and RSI was minimal, indicating consistent buying pressure.

Bollinger Bands

Volatility increased significantly as the price moved above the upper Bollinger Band for a portion of the session, particularly in the late ET hours. The width of the bands expanded in response to the increased volume and momentum, showing a period of high conviction trading. Price remained within the bands for most of the day, with a brief but meaningful breakout above the upper band suggesting a potential continuation of the uptrend.

Volume & Turnover

Volume spiked during the late ET hours, with the highest 15-minute volume reaching 61,745.2 during the 19:15 ET candle. Turnover also showed a notable increase during the same period, confirming the price action. The correlation between rising volume and price was strong, indicating accumulation rather than distribution. A potential divergence was observed during the 03:45 ET candle, where price continued to rise while volume slightly declined, suggesting a possible pause in the bullish momentum.

Fibonacci Retracements

Fibonacci retracement levels were applied to the recent 15-minute swing from $2.919 to $3.065. Key levels such as 61.8% ($3.011) and 38.2% ($2.996) were tested and held as support. The 61.8% level acted as a temporary ceiling before the price broke through. On the daily chart, Fibonacci levels from a prior bearish move showed that $2.95 was a 50% retracement level, which now appears to be acting as support and aligning with the 200-period MA.

Backtest Hypothesis

Given the observed bullish patterns, particularly the engulfing and golden cross, a potential backtest strategy could involve entering long positions at the open of the candle following a confirmed golden cross and bullish engulfing pattern. The stop-loss would be placed slightly below the key support level at $2.936, and the take-profit target could align with the next Fibonacci level at $3.05 or the upper Bollinger Band. This approach leverages both price action and moving average crossovers for high-probability setups, assuming continuation of the current trend.