Market Overview for RedStone/Tether (REDUSDT) – 2025-09-21

• Price tested key support at $0.5775–0.5790 before rebounding.
• Volatility expanded during 00:00–06:00 ET with high-volume breakouts.
• RSI showed overbought levels during midday rally to $0.5997.
• Bollinger Bands tightened pre-7:30 ET before a sharp breakout.
• On-balance volume confirmed price action during 07:30–11:00 ET.

Market Summary

At 12:00 ET on September 21, 2025, RedStone/Tether (REDUSDT) opened at $0.584, reached a high of $0.5997, and a low of $0.5771, closing at $0.5835. The total 24-hour volume was 1,679,658.0, with a notional turnover of $969,142.15 (sum of volume × price). The price action reflected a consolidation phase after a sharp rally in the early hours, with buyers re-entering after a period of bearish pressure late in the previous day.

Structure & Formations

The price action formed a bearish engulfing pattern after the early morning breakout to $0.5997, followed by a corrective pullback to $0.5819–0.5835. Key support was identified at $0.5775–0.5790, where price reversed multiple times. A bullish morning star pattern emerged at 09:30–11:00 ET, indicating short-term buying pressure. The formation of a falling wedge between $0.5835–0.5850 suggests a potential breakout to the upside in the near term.

Moving Averages

On the 15-minute chart, the 20-period moving average crossed above the 50-period line at 07:30 ET, forming a bullish crossover. The 50-period MA acted as a minor resistance during the 09:45–10:15 ET pullback, preventing a deeper correction. On the daily chart, the 50-period MA stands at $0.5830, with the 100-period MA at $0.5820 and the 200-period MA at $0.5810. Price is currently aligned with the 50–100 MA convergence, indicating consolidation.

MACD & RSI

The MACD line crossed above the signal line at 06:45 ET, confirming the early bullish momentum. However, by 10:30 ET, the MACD histogram began to contract, signaling weakening bullish momentum. The RSI peaked at 74 during the 07:30–08:00 ET rally, entering overbought territory before a pullback to 56 by 11:00 ET. This suggests short-term profit-taking but does not indicate a reversal. The RSI has since stabilized above 50, supporting a constructive bias.

Bollinger Bands

Volatility expanded during the 00:00–06:30 ET session, with price testing the upper band at $0.5997 and the lower band at $0.5771. A narrow consolidation phase was observed from 06:30–07:30 ET, followed by a breakout to the upper band. The current price is trading near the upper Bollinger Band on the 15-minute chart, indicating high volatility and potential for continuation or reversal.

Volume & Turnover

Volume spiked at 04:15–04:30 ET (102,906.3), confirming the early morning breakout to $0.5997. A second spike occurred at 07:30–07:45 ET (120,176.6), supporting the continuation of bullish momentum. Turnover also saw a sharp increase during the 07:30–07:45 ET window. However, volume weakened during the 11:00–12:00 ET pullback, suggesting lack of follow-through. The divergence between price and volume during the consolidation phase could indicate weakening conviction.

Fibonacci Retracements

Key retracement levels from the recent high of $0.5997 and low of $0.5771 include the 38.2% at $0.5882 and the 61.8% at $0.5831. Price held the 61.8% level for most of the day before consolidating above it. This suggests the 61.8% level is acting as a pivot point, potentially leading to a test of the 78.6% retracement at $0.5846 in the near term.

Backtest Hypothesis

The observed technical setup, including bullish divergences in volume and RSI during the 07:30–10:30 ET period, aligns with a swing-trading strategy based on 15-minute chart patterns. A potential backtest could involve entering long positions on RSI divergence above 50, with stops placed below key support levels like $0.5775–0.5790 and a target at the 61.8% Fibonacci level at $0.5831. This would test the efficacy of using RSI divergence and volume confirmation to identify short-term reversal points in highly volatile altcoin pairs like REDUSDT.