Market Overview for REI Network/Tether (REIUSDT)

• Price surged from $0.01578 to $0.01622 before consolidating near $0.01605.
• Volume spiked at $0.01621, with a notable bullish engulfing pattern and high turnover.
• RSI hit overbought territory near 65, while MACD showed bullish divergence in the final 6 hours.
• Volatility expanded with a wide Bollinger Band, and price held above the 20-period MA.
• Downturn after 02:00 ET saw a bearish reversal but failed to break key support at $0.01600.

The REI Network/Tether pair (REIUSDT) opened at $0.01578 on 2025-10-02 at 12:00 ET and closed at $0.01601 on 2025-10-03 at 12:00 ET, trading between $0.01578 and $0.01622. The total volume was 14,928,287.00 and notional turnover was $236.44 across 96 candles.

Key support levels emerged around $0.01600, tested multiple times but failed to break. A bullish engulfing pattern occurred at $0.01621–$0.01622, indicating a short-term reversal. Resistance levels include $0.01626 and $0.0163, both of which were capped during the session. A doji at $0.01604 signaled indecision, while bearish hammers appeared near $0.01607 and $0.01604 after 02:00 ET, hinting at potential sell-offs.

Structure & Formations

Price action revealed a key bullish reversal at $0.01621–$0.01622 followed by a bearish breakdown attempt failing at $0.01607. The 20-period MA (15-min) supported the rally into $0.01622, and price remained above the 50-period MA throughout the morning. Daily MAs were not provided, but intraday data suggests short-term bullish bias.

The 20-period MA (15-min) rose from $0.01595 to $0.01603, crossing the 50-period MA near $0.01600—forming a potential golden cross. This alignment supports continued upside momentum unless volume dries up.

MACD & RSI

MACD turned bullish in the final 6 hours, with a positive divergence emerging between price and the histogram, suggesting a short-term bullish bias. The RSI climbed to 64 (near overbought) after a sharp rally, but failed to break 70, indicating a lack of extreme momentum. A pullback to 45–50 would signal a return to equilibrium.

The RSI divergence and MACD crossover above the signal line point to a possible continuation of the bullish trend, though overbought readings may trigger a short-term correction.

Bollinger Bands

Volatility expanded significantly, with the Bollinger Band width reaching a wide range of ~0.00027. Price traded at the upper band between 18:30–19:30 ET, indicating high volatility and bullish pressure, before consolidating in the middle band.

A contraction may follow, tightening the range and potentially setting up for a breakout or breakdown. The middle band at ~$0.01601 appears to be a key pivot.

Volume & Turnover

Volume spiked to 909,823.00 at 04:00 ET and 1,492,828.70 at 15:30 ET, coinciding with price highs and consolidation phases. Notional turnover rose to $236.44, with a strong concentration between $0.01600–0.01626.

The positive volume divergence in the final 3 hours suggests increased buying pressure, while the bullish engulfing candle at $0.01621 was confirmed by strong volume.

Fibonacci Retracements

Fibonacci levels from the swing low at $0.01578 to the high at $0.01622 show key retracement levels at $0.01606 (38.2%), $0.01599 (50%), and $0.01593 (61.8%). Price bounced off the 38.2% level multiple times, suggesting strong support.

On a daily chart, the 61.8% retracement level at $0.01593 will be critical for the next 24 hours—if broken, a test of $0.01584 is likely.

Backtest Hypothesis

A potential backtesting strategy could be based on MACD bullish crossovers and volume confirmation during consolidation phases. The last bullish engulfing pattern at $0.01621 was supported by high volume and a MACD crossover, indicating a strong entry setup. A stop loss at $0.01593 (Fibonacci 61.8%) could manage risk while aiming for a target at $0.0163. This setup could be backtested across similar 15-minute charts to evaluate consistency in bullish reversals.