Market Overview: Render/Tether (RENDERUSDT) Daily Summary as of 2025-10-10

• Price surged to a high of 3.321 before correcting sharply into the close at 3.101
• Strong bearish momentum in the final 15 minutes with volume spiking to 427,754
• 24-hour volatility expanded with a range of 0.251 (7.8%) and RSI near oversold levels
• Key support appears at 3.07 as the lowest point, and resistance at 3.284
• Notable patterns include a bearish engulfing on the 1-hour chart and a bearish reversal on the 4-hour chart

Price Action Summary

RENDERUSDT opened at 3.214 on 2025-10-09 at 16:00 ET and surged to a high of 3.321 by 13:15 ET on October 10. The pair then fell sharply, closing at 3.101 at 16:00 ET. Over the 24-hour period, total volume amounted to 1,848,496.82 and notional turnover was $5,969,828.11, indicating strong participation and high volatility.

Structure & Formations

Price formed a bearish engulfing pattern during the 4-hour timeframe after reaching 3.321, followed by a sharp retracement into 3.101. A doji appeared at the 1-hour chart level around 3.284, signaling indecision. The daily chart shows a bearish reversal pattern as the price collapsed below the 3.241 psychological level. Notable support is forming near 3.07, while resistance levels are at 3.241 and 3.284.

Moving Averages

On the 15-minute chart, the 20SMA crossed below the 50SMA, confirming a bearish bias. On the daily chart, the 50DMA has crossed below the 200DMA, suggesting a potential medium-term bearish trend. Price currently trades well below all key moving averages on both timeframes, supporting a continuation of the downward momentum.

MACD & RSI

MACD showed a bearish crossover on both the 15-minute and 1-hour charts, with the histogram expanding in the negative territory. RSI has been in oversold territory below 30 for most of the last 6 hours, suggesting a potential short-term rebound may be in the cards. However, the bearish divergence between price and RSI in the late hours indicates a strong conviction to the downside.

Bollinger Bands

Bollinger Bands expanded significantly during the 24-hour session, reflecting heightened volatility. Price closed near the lower band at 3.101, indicating a strong bearish bias. A retest of the upper band at 3.277 could serve as a short-term resistance if buyers manage to push the price up in the near future.

Volume & Turnover

Volume spiked dramatically in the final 15 minutes, reaching 427,754 as the price broke the 3.101 level. Notional turnover surged to $1,356,842 during this period, suggesting strong bearish participation. Divergence between volume and price was observed in the last 2 hours of the session, with volume increasing while price continued to fall, reinforcing the bearish momentum.

Fibonacci Retracements

On the daily chart, price has retraced 61.8% of the recent bullish swing from 3.07 to 3.321, landing at 3.153, but has since fallen further. On the 15-minute chart, key Fibonacci levels include 3.241 (38.2%), 3.216 (50%), and 3.192 (61.8%). A break below 3.07 would target the next Fibonacci extension at 3.034.

Backtest Hypothesis

A potential backtest strategy could involve entering short positions when price closes below the 50SMA on the 1-hour chart and the RSI drops below 30, with a stop-loss above the 20SMA and a take-profit at the nearest Fibonacci level. Given today’s action, this strategy would have entered a short trade around 3.216 and closed at 3.101, capturing a 3.44% move. This aligns with the observed bearish momentum and key technical divergences in the RSI and volume patterns.