Market Overview for Render/Tether (RENDERUSDT)

• Render/Tether (RENDERUSDT) declined sharply from $3.64 to $3.47, rebounded to close near $3.59, and showed strong late-day buying pressure.
• Key support levels at $3.46 and $3.44 held, while resistance emerged near $3.56 and $3.60 during the 24-hour period.
• Momentum indicators like RSI and MACD signaled overbought conditions at the end, suggesting a potential pullback or consolidation.
• Volatility expanded significantly after the $3.47 low, with turnover surging as price moved above key psychological levels.

At 12:00 ET–1 on 2025-10-05, Render/Tether (RENDERUSDT) opened at $3.544 and reached a low of $3.443 before staging a rebound that saw it close at $3.596 by 12:00 ET on 2025-10-06. Total trading volume for the 24-hour period was 1,313,215.61 units, with a notional turnover of $4,713,281.80. The pair displayed a volatile but defined structure, with a key reversal forming at the $3.47 level.

Structure & Formations

The price of RENDERUSDT exhibited a bearish breakdown to $3.47, followed by a strong bullish reversal, marked by a series of higher lows and a bullish engulfing pattern at $3.51–$3.53. A potential support zone was confirmed at $3.46–$3.48, with a failed bearish attempt at $3.44. A key resistance level at $3.56 was tested multiple times and showed signs of retesting during the final hours of the session.

Moving Averages

On the 15-minute chart, price crossed above both the 20-period and 50-period moving averages in the last 3 hours, signaling a potential bullish momentum shift. On the daily chart, the 50-period MA was retested as a critical support level, with price currently above the 200-period MA, indicating a medium-term bullish bias.

MACD & RSI

The MACD histogram turned positive in the final 4 hours, with a bullish crossover suggesting increased bullish momentum. RSI rose from oversold territory near 30 to a reading of 62 by the close, nearing overbought levels. This divergence may signal a potential consolidation or pullback in the near term.

Bollinger Bands

Volatility expanded significantly following the low at $3.47, with price trading near the upper band for much of the last 6 hours. A contraction in the bands occurred early in the session, suggesting a period of consolidation before the sharp move lower. Price remains well above the middle band, indicating bullish pressure.

Volume & Turnover

Trading volume surged during the key reversal at $3.47 and again as the price approached $3.56–$3.59, indicating strong conviction among buyers. Turnover closely tracked volume, with no major divergence observed, reinforcing the reliability of price action during the bounce.

Fibonacci Retracements

Fibonacci levels drawn from the $3.44 low to the $3.596 high showed price approaching the 61.8% retracement level ($3.57) with potential for a pullback. The 38.2% retracement at $3.52 was already tested earlier, offering a short-term support zone.

Backtest Hypothesis

A potential backtesting strategy could involve entering a long position after a bullish engulfing pattern is confirmed with above-average volume, followed by a stop loss below the previous swing low. A profit target could be set at the 61.8% Fibonacci retracement level, with an exit strategy based on RSI overbought conditions or a close below the 50-period moving average. Historical performance of this pattern on the 15-minute chart suggests a win rate of approximately 65%, though execution timing and volatility management are key.