Market Overview for REI Network/Tether (REIUSDT)

• Price opened at $0.01078 and closed near $0.01067, with a daily range of $0.01034 to $0.01089.
• Volatility increased in the overnight hours, with several 15-minute candles showing wide ranges and volume surges.
• A bearish divergence emerged in RSI and MACD, suggesting waning bullish momentum in the short term.
• Volume and turnover spiked between 02:00–04:00 ET, despite price consolidation, hinting at order-block accumulation.
• Fibonacci retracements and key psychological levels suggest possible support at $0.01054 and resistance at $0.01076.

Overview of 24-Hour Price Action

REI Network/Tether (REIUSDT) opened the 24-hour period on 2025-11-02 at $0.01078 and closed near $0.01067 at 12:00 ET. The pair reached a high of $0.01089 and a low of $0.01034 during the session, reflecting a volatile trading day. Total volume traded over the period was approximately 10.5 million REI, with total turnover reaching $1.13 million, showing increased participation in key price zones.

Structure & Formations

Price action over the last 24 hours revealed a bearish bias, with a key support level forming around $0.01054 and resistance at $0.01076. A bearish engulfing pattern was visible between 03:45 and 04:00 ET, signaling potential distribution. A doji formed at the low of the session near $0.01034, indicating a potential short-term bottom.

Moving averages (20/50) on the 15-minute chart suggest a recent flattening trend, with the 50-period line remaining above the 20-period line. On the daily chart, the 50-period MA is still above the 200-period MA, maintaining a long-term neutral stance.

Momentum and Volatility Analysis

RSI has been oscillating between overbought and oversold levels, suggesting a choppy trading environment. It reached a low of 24 during the session, indicating an oversold condition, but failed to close above 50, suggesting bearish bias. MACD has turned negative with a bearish crossover, aligning with the RSI divergence.

Bollinger Bands have expanded significantly during the overnight hours, reflecting increased volatility. Price tested the lower band multiple times, particularly after 02:00 ET, suggesting a potential support zone forming between $0.01050 and $0.01054.

Volume and Turnover Trends

Volume was concentrated during the 02:00–04:00 ET timeframe, with multiple 15-minute candles showing above-average participation. This occurred amid price consolidation, indicating possible accumulation. However, price failed to follow through with a breakout, suggesting a potential bear trap or lack of follow-through on the buying side.

Fibonacci retracements drawn from the key swing high at $0.01089 to the low at $0.01034 show a 61.8% retracement at $0.01066, where the price has shown multiple tests over the last 12 hours. The 38.2% retracement at $0.01062 also appears to be a key pivot point.

Backtest Hypothesis

Given the observed technical setup—including a bearish MACD crossover, a weak RSI divergence, and consolidation after key support levels—it may be viable to test a short-side strategy based on RSI oversold conditions and a bearish MACD crossover. The hypothesis would involve entering short positions when RSI falls below 30 and MACD turns bearish, holding until the next bullish signal or stop-loss is triggered. While the current data limitations prevent executing the full backtest from 2022–2025, this approach appears aligned with the recent bearish momentum and could be refined once reliable historical data for REIUSDT is confirmed.