Market Overview for Raydium/Tether (RAYUSDT)

Summary
• Price surged from 1.382 to 1.560 in 24 hours, driven by strong bullish momentum after 12:00 ET.
• RAYUSDT closed at 1.503 with total volume of 2.31 million and turnover of $3,497,683.
• Key resistance appears at 1.503–1.508, while support levels are forming around 1.490 and 1.468.

Raydium/Tether (RAYUSDT) Market Overview

Raydium/Tether (RAYUSDT) opened at 1.382 on 2025-11-08 at 12:00 ET and closed at 1.503 as of 12:00 ET on 2025-11-09. The 24-hour period saw a high of 1.560 and a low of 1.352. Total volume across the 24-hour period was 2,310,699.5 and notional turnover reached $3,497,683, highlighting a significant increase in activity and bullish bias.

The price has shown strong momentum following a sharp rally post 15:00 ET, with the 20 and 50-period moving averages on the 15-minute chart showing a bullish crossover, suggesting continued upward bias. On the daily chart, the 50-period MA is also crossing above the 100 and 200-period MAs, reinforcing a longer-term bullish signal.

Structure & Formations

Notable candlestick patterns emerged during the 24-hour period, including a strong bullish engulfing pattern starting at 17:00 ET on 2025-11-08, indicating a shift in sentiment. A series of bullish hammers followed in the 21:00–23:00 ET range, suggesting accumulation and potential for further gains. A large bearish candle at 00:30 ET on 2025-11-09 acted as a minor retracement, but failed to break the key support level of 1.490.

Key support levels include 1.490 (tested multiple times) and 1.468, while resistance levels are forming at 1.503–1.508 and 1.517–1.530. A successful break above 1.517 would confirm a strong continuation pattern.

Moving Averages and Volatility

Bollinger Bands have expanded significantly over the past 12 hours, signaling increased volatility. The price has been trading above the upper band during the 15:00–17:00 ET rally, indicating overbought territory. However, the price has retracted to within the bands after 23:00 ET, suggesting the market is consolidating.

The RSI has shown overbought conditions multiple times during the rally, peaking at 75 before retreating to neutral levels. MACD has remained positive throughout most of the 24-hour period, with a large histogram confirming the bullish momentum. The MACD line crossed above the signal line at 14:30 ET, providing a strong buy signal.

Volume and Turnover

Volume has spiked significantly during the rally, with the largest 15-minute volume recorded at 222,804.9 at 14:30 ET, coinciding with a price surge to 1.480. Notional turnover also spiked during this time, confirming the price move. There is no significant divergence between price and volume, suggesting the rally is supported by strong buying interest.

A bearish divergence was observed at 02:30–03:00 ET when volume dropped despite a price decline, but this was followed by a strong bounce that invalidated the bearish signal.

Fibonacci Retracements

Fibonacci levels have played a role in key price movements. The 61.8% retracement level at 1.490 acted as a strong support level, while the 38.2% retracement at 1.508 has now become a critical resistance. On the daily chart, the 61.8% retracement of the recent swing from 1.352 to 1.560 is at 1.475, which may serve as a potential entry point for short-term traders.

Backtest Hypothesis

Given the strong technical signals observed in this 24-hour period—especially the bullish crossovers in the MACD and RSI readings—it would be prudent to backtest a strategy based on these indicators. An effective approach could involve using the 20 and 50-period moving averages as trend filters and entering long positions when the MACD crosses above the signal line, with RSI used to avoid overbought conditions. To proceed, it would be best to either retry the data request or calculate the MACD and RSI locally from the OHLCV data provided.