Market Overview for RedStone/Tether (REDUSDT): 2025-09-16 to 2025-09-17

• RedStone/Tether (REDUSDT) traded between 0.5714 and 0.5882 over the last 24 hours, ending at 0.5714.

• Price declined from early highs, with key support around 0.573–0.575 and resistance at 0.584–0.586.

• Volatility increased overnight, with a drop in volume confirming bearish momentum.

• RSI entered oversold territory, suggesting potential near-term bounce, but trend remains bearish.

• Bollinger Bands show price near lower band, indicating weak volatility with possible consolidation.

At 12:00 ET on 2025-09-16, RedStone/Tether (REDUSDT) opened at 0.5844, reached a high of 0.5882, and a low of 0.5714 before closing at 0.5714 on 2025-09-17. Total volume across the 24-hour period was 1,031,897.6, with notional turnover of approximately 574,714.20.

The 15-minute chart shows a bearish shift in sentiment, particularly from 00:00–05:00 ET, where price broke below key support levels, confirming a breakdown from the 0.575–0.584 trading range. A bearish engulfing pattern formed around 02:30–03:15 ET, suggesting short-term continuation of the downward trend. The formation of a doji around 03:45 ET may indicate indecision, but it was quickly broken by a sharp drop to the session low.

Structure & Formations
Key support levels are at 0.573 and 0.575, with 0.569–0.571 likely representing the next critical area for buyers. Resistance lies at 0.579–0.583 and 0.584–0.586. A notable bearish divergence in the last few hours suggests that sellers are in control. A potential bullish reversal may occur if price rebounds above 0.577 with increased volume.

Moving Averages
On the 15-minute chart, the 20-period and 50-period moving averages are both bearish and have crossed below key swing levels. Daily 50/100/200 EMA lines indicate that the long-term trend remains bearish, with no immediate reversal signals.

MACD & RSI
The MACD line is negative and below the signal line, reinforcing bearish momentum. RSI is in oversold territory, indicating possible near-term bounce, but bearish bias is still strong. A close above 0.575 would be needed to confirm a shift in sentiment.

Bollinger Bands
Price has been near the lower band for the past 6 hours, confirming weak volatility and bearish pressure. A retest of the 0.573–0.575 range could lead to consolidation or a test of the 0.569 support.

Volume & Turnover
Volume has been declining since 05:00 ET, indicating a loss of conviction in the bearish move. Turnover has followed volume closely, but a divergence appears in the last few hours, suggesting possible exhaustion in the downtrend.

Fibonacci Retracements
Applying 38.2% and 61.8% retracements to the key swing from 0.5882 to 0.5714 places possible support levels at 0.583 and 0.576, respectively. These levels may act as minor bounces or attract buying pressure.

Backtest Hypothesis
A potential strategy is to buy REDUSDT on a confirmed break above 0.577 with increased volume and target 0.584–0.586 as the first resistance zone, using 0.573 as a stop-loss. This setup aims to capitalize on the RSI’s oversold condition and a potential countertrend bounce. The strategy assumes a short-term reversal and should be used cautiously in a bearish trend.