Market Overview: REI Network/Tether (REIUSDT)

• Price surged 12.3% on strong volume and momentum.
• Volatility expanded with a break above recent resistance.
• RSI near overbought territory, suggesting consolidation ahead.
• Bollinger Bands showed widening trend, hinting at sustained buying.

REI Network/Tether (REIUSDT) opened at $0.00968 on 2025-10-31 12:00 ET, surged to a high of $0.01133, and closed at $0.01085 by 12:00 ET on 2025-11-01. The 24-hour total volume reached 52.22 million, with turnover at ~$5.6 million, indicating strong accumulation and bullish sentiment.

The price formed a strong ascending triangle pattern during the 15-minute chart, with a decisive breakout above the upper resistance at $0.0106–$0.0108. A large bullish engulfing candle on 2025-11-01 at $0.01056–$0.01078 signaled strong momentum. Additionally, a long wick on the prior day’s candle at $0.00966–$0.00978 suggests prior support held well, and buying pressure emerged after a brief pullback.

Support and Resistance

Key support levels include $0.00966 (prior 15-minute low), $0.00958 (prior session’s floor), and a psychological level at $0.00950. Resistance appears to shift as price moves higher, with $0.0108–$0.0109 as immediate overhead pressure and $0.0113 (high of the session) as the next critical threshold for a continuation signal.

Moving Averages and Momentum

On the 15-minute chart, the 20-period MA crossed above the 50-period MA, forming a golden cross, indicating a strong buy signal. The 50-period MA sits at $0.01018, while the 20-period MA is at $0.01052. The price remains well above these lines, suggesting continued bullish bias. On the daily chart, the 50- and 200-period MAs appear to be converging, hinting at potential trend acceleration.

MACD (12,26,9) showed a bullish crossover and positive divergence, aligning with the strong volume profile. RSI (14) hit 73 at the close of the 24-hour period, approaching overbought territory, which may suggest near-term profit-taking. However, as long as RSI stays above 60, the bullish momentum remains intact.

Bollinger Bands expanded significantly during the last 24 hours, with the 20-period band width reaching a peak as price surged near the upper band. This indicates heightened volatility and strong buying pressure. Price may continue to trade within the upper band for the next 24 hours unless a bearish reversal occurs.

Volume and Turnover

Volume spiked to over 8.18 million on the 15-minute chart at 07:45 ET, correlating with a breakout above $0.0107. The largest 15-minute turnover occurred at 12:45 ET, when 5.22 million volume moved the price to a high of $0.01133. Notably, price and volume aligned during the breakout, suggesting the move is likely genuine and not a false signal.

Fibonacci Retracements

On a 15-minute basis, the 38.2% retracement level from $0.00958 to $0.01133 is at $0.01000, which was briefly tested before the breakout. The 61.8% level sits at $0.01089, where price has recently consolidated. On the daily chart, the 61.8% retracement level of $0.01104 may serve as a short-term ceiling.

Backtest Hypothesis

Given the strong RSI and volume signals observed in the 24-hour data, a backtest based on RSI-14 overbought/oversold thresholds could be informative. For REIUSDT, the standard approach would use a 14-period RSI with a 70 overbought threshold. Entries could be triggered when RSI exceeds 70, and exits when it falls below 70. However, given the current overbought condition and the price’s tendency to remain above 60 on RSI, a modified strategy—such as a 14-period RSI with a higher threshold (e.g., 80) or trailing stop-loss—may be more appropriate for capturing extended bullish momentum. Further, incorporating volume filters (e.g., confirming RSI entries with volume spikes) could reduce false signals.