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Summary
• Price formed a bearish engulfing pattern on key resistance, confirming downward momentum.
• RSI entered oversold territory, suggesting potential for a near-term rebound.
• Bollinger Bands show increasing contraction, indicating a possible consolidation breakout.
• Volume spiked during early hours of the session, aligning with a sharp price decline.
• Fibonacci 61.8% level at 0.898–0.900 appears to act as short-term support.
Market Overview
Raydium/Tether (RAYUSDT) opened at 0.924 on 2025-12-29 at 12:00 ET and closed at 0.905 by 2025-12-30 at 12:00 ET. The pair reached a high of 0.932 and a low of 0.892 during the period. Total volume amounted to 512,324.9, with a notional turnover of 456,896.22 USD.
Price action showed a bearish shift as RAYUSDT broke below key support levels during the early morning hours. A large bearish engulfing pattern formed at 0.925–0.927, signaling a shift in sentiment. RSI dipped into oversold territory, hinting at potential for a short-term bounce. However, the dominance of volume on the downside suggests selling pressure may continue.

Structure and Patterns
Price action formed a bearish engulfing candle at 0.925–0.927, confirming a shift in momentum. A series of lower closes below 0.920 suggested strengthening short-term bearish sentiment. The 20 and 50-period moving averages remained above the price, reinforcing the downward trend.
Volatility and Momentum
Bollinger Bands contracted significantly after the 0.900 level was reached, pointing to a possible breakout phase. MACD crossed below the zero line and maintained a bearish slope, reinforcing the trend. The RSI, currently at oversold levels, could trigger a short-term rebound, but this would likely remain range-bound unless volume confirms a reversal.
Volume and Turnover
Volume spiked sharply during the early hours of the session when the price dropped from 0.925 to 0.893, confirming the bearish break. Turnover remained high during this phase, supporting the move lower. Divergences between price and volume were not observed, suggesting the bearish move is backed by strong participation.
Fibonacci Retracements
Fibonacci retracement levels at 0.898–0.900 appear to provide near-term support, having been tested multiple times in the data. A break below 0.895 could lead to further extension toward 0.888–0.891, where a stronger support cluster is forming.
In the next 24 hours, a test of the 0.898–0.900 level appears likely. If RSI fails to recover and volume remains subdued, a continuation of the bearish trend is probable. Investors should closely monitor volume and any potential breakouts from the Bollinger Band contraction.
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