Market Overview for REI Network/Tether USDt (REIUSDT) on 2025-09-10

• Price surged from $0.01661 to $0.01792 before consolidating toward $0.0174
• Volume spiked at 05:30 ET with a large bullish candle forming
• RSI and MACD signaled overbought conditions mid-day before momentum reversed
• Bollinger Bands widened during the morning breakout, showing rising volatility
• 24-hour turnover reached $74.1M on heavy volume of 54.6M REIUSDT

The REI Network/Tether USDt (REIUSDT) pair opened at $0.01661 on 2025-09-09 at 12:00 ET and surged to a high of $0.01792 before closing at $0.0174 at 12:00 ET on 2025-09-10. Total volume amounted to 54.6 million REIUSDT, with $74.1 million in turnover across the 24-hour period.

Structure & Formations

The price action displayed a strong bullish breakout in the early morning hours, forming a large 05:30 ET candle with a 0.0175–0.0179 range and a long upper wick. This suggests buying pressure was followed by profit-taking. A bearish correction followed, forming a series of lower highs and lower closes. Key support appears at the 0.0172–0.0173 range, with resistance forming at 0.01755–0.0176. A bearish engulfing pattern was seen at 11:30 ET as the price closed below the previous candle’s body, signaling potential downward momentum.

Moving Averages and Momentum

The 15-minute chart shows the 20-period moving average (SMA) above the 50-period line, suggesting short-term bullish momentum. However, this crossed bearish after 08:00 ET, aligning with the price correction. The 50-period daily MA sits at ~$0.0168, suggesting a longer-term support level. RSI spiked above 70 in the morning, indicating overbought conditions, while MACD showed a bearish crossover at 10:30 ET, reinforcing the possibility of a pullback.

Volatility and Bollinger Bands

Bollinger Bands expanded significantly during the morning breakout, reaching a 1.7% width at the peak. Price action briefly touched the upper band at 05:45 ET, a sign of strong volatility and momentum. The bands have since narrowed slightly, indicating a possible re-accumulation phase. Price remains above the 20-period moving average on the 15-minute chart, suggesting continued short-term bullish sentiment.

Volume and Turnover

Volume spiked dramatically at 05:30 ET with a 6.2 million REIUSDT candle, coinciding with the breakout. This was followed by a sharp drop in volume during the afternoon correction, suggesting the initial buying pressure may be subsiding. Notional turnover (value traded) peaked at $13.6 million during the 05:30 ET candle. A divergence between price and turnover is visible in the latter half of the day—while price continued to fall, turnover did not significantly increase, suggesting a possible short-term bottoming process.

Fibonacci Retracements

Fibonacci levels drawn from the 0.01661–0.01792 swing indicate potential support at 0.0174 (61.8% retracement) and resistance at 0.0177 (38.2%). The price briefly broke the 0.01792 level before retreating, suggesting this may act as a key resistance zone. On a daily chart, the 0.0172 level (61.8% retracement from a recent low to high) remains a critical area of support.

Backtest Hypothesis

The backtesting strategy focuses on identifying and capitalizing on breakout patterns confirmed by a bullish MACD crossover and a close above the upper Bollinger Band. Traders would enter long positions on the break of the upper band, with a stop-loss placed below a key Fibonacci support level (e.g., 61.8%). Given today’s data, the 05:30 ET candle met these criteria and would have triggered a long signal. However, the subsequent bearish MACD crossover and pullback highlight the risk of false breakouts, especially in low-liquidity environments. The strategy could benefit from incorporating a volume filter to avoid low-conviction breakouts.