Market Overview for Render/Tether (RENDERUSDT): 24-Hour Analysis as of 2025-09-23

• Price action shows a bearish reversal into the early morning before rallying toward 3.66.
• Volatility increased sharply during the drop to 3.556, followed by a rebound with strong volume.
• RSI signaled overbought conditions in late afternoon before a pullback.
• Bollinger Bands expanded during the drop, showing heightened volatility.
• Volume spiked during key price pivots, confirming major directional shifts.

Render/Tether (RENDERUSDT) opened at $3.671 on 2025-09-22 at 16:00 ET and closed at $3.654 on 2025-09-23 at 12:00 ET, with a high of $3.689 and low of $3.538. Total 24-hour volume amounted to 885,128.49 units with a turnover of approximately $3,185,155.74.

Structure & Formations

Price action reveals a key support level near $3.585, where a bullish bounce occurred following a sharp decline. A bearish engulfing pattern formed at $3.606, suggesting a short-term reversal into the early morning session. A doji candle near $3.673 also appears to indicate indecision after a strong bullish move. The price later tested $3.66–$3.665 as a potential short-term resistance and found buyers after bouncing off $3.585.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs crossed below price during the bearish leg toward $3.556, reinforcing the downtrend. However, price has since retested and moved above both indicators during the rebound. On the daily chart, the 50-period SMA appears to offer support around $3.60, with the 100- and 200-period SMAs slightly below, forming a potential base for consolidation.

MACD & RSI

The MACD turned bearish during the early morning sell-off, with a negative histogram and a bearish crossover. RSI dropped into oversold territory below 30 during the dip to $3.556, suggesting a potential rebound. As the price recovered, RSI returned to neutral territory, hovering near 50. This indicates that momentum has shifted but remains mixed as buyers re-enter after the dip.

Bollinger Bands

Bollinger Bands expanded during the price drop, with the low of $3.538 breaking the lower band, signaling a high-volatility move. Price has since moved back within the bands, settling closer to the middle band as volatility has stabilized. The width of the bands remains wider than usual, suggesting ongoing uncertainty in the market.

Volume & Turnover

Volume spiked significantly during the sharp decline toward $3.556 and again during the rebound into $3.65–$3.67. This confirms strong conviction in both the bearish and bullish moves. Notional turnover also rose during these periods, aligning with price movements and supporting the idea of a healthy market response to key levels.

Fibonacci Retracements

On the 15-minute chart, the key swing from $3.689 to $3.538 saw price retest the 61.8% Fibonacci level near $3.605, where a bounce occurred. The 38.2% level at $3.665 also acted as resistance before a pullback. Daily-level Fibonacci levels suggest that $3.60–$3.62 may serve as key support, while $3.67–$3.68 could be a potential resistance zone if the trend reverses.

Backtest Hypothesis

Given the recent bearish engulfing pattern and the strong rebound from Fibonacci support at $3.605, a backtest strategy could consider a long entry on a close above $3.655 with a stop-loss placed below $3.62 and a target at $3.675. This approach leverages both Fibonacci retracement levels and candlestick confirmation for directional bias, while volume spikes during the bounce add credibility to the entry signal. The strategy could be optimized by incorporating a trailing stop to capture the full extent of the rebound or by exiting after a MACD bearish crossover to lock in profits.