Market Overview for Raydium/Tether (RAYUSDT)

Summary
• Price declined from 1.16 to 1.138, forming bearish engulfing and inside bars.
• RSI suggests oversold conditions, while volume surged during the selloff.
• Volatility expanded after a consolidation phase, with a key support at 1.132.

RAYUSDT opened at 1.152 on 2026-01-15 12:00 ET, reached a high of 1.16, and closed at 1.138 by 2026-01-16 12:00 ET. The 24-hour volume was 1,000,000.0 (approximate), with a turnover of 116,000.0.

Structure & Formations

Price action on RAYUSDT displayed multiple bearish candlestick patterns, including engulfing and inside bars, particularly after 19:00 ET on 2026-01-15. Key support at 1.132 held during the final hours, while resistance appears at 1.145.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages crossed bearishly, reinforcing downward bias. The daily chart shows the price below all major moving averages, indicating a weak trend.

Momentum and Volatility

Relative Strength Index (RSI) dipped into oversold territory during the selloff, but volume surged during the decline, suggesting conviction in the bearish move. Bollinger Bands widened after a period of consolidation, reflecting increased volatility.

Volume and Turnover

Notable volume spikes occurred during key price breaks, especially below 1.14 and again below 1.135. Turnover aligned with the price drops, showing no divergence and confirming the bearish sentiment.

Fibonacci Levels

The recent 5-minute swing from 1.16 to 1.138 aligns with a 61.8% Fibonacci retracement near 1.141. On the daily chart, the 38.2% level at 1.145 and 61.8% at 1.134 could act as pivot points in the coming session.

The market appears to have found a near-term floor around 1.132–1.134, and a retest of that level may trigger a bounce. However, traders should remain cautious as a breakdown below 1.132 could accelerate the downtrend.