Market Overview for Ronin/Bitcoin (RONINBTC) on 2025-09-24

• Price declined from 4.39e-06 to 4.27e-06, forming bearish momentum and intraday bearish bias.
• RSI showed oversold conditions toward the session close, suggesting potential short-term bounce.
• Volume spiked near 4.29e-06 and 4.3e-06, confirming price rejection at key psychological levels.
• Bollinger Bands showed mild expansion, with price hovering near the lower band during the final hours.
• No strong reversal patterns emerged, but bullish divergence in RSI suggests caution before further declines.

At 12:00 ET–1 on 2025-09-23, Ronin/Bitcoin (RONINBTC) opened at 4.36e-06 and reached a high of 4.39e-06. Over the following 24 hours, the pair dipped to a low of 4.26e-06 and closed at 4.3e-06 at 12:00 ET. Total traded volume amounted to 31,111.04, and notional turnover stood at 132.82. The price action reflected persistent bearish pressure, with a few attempts at consolidation around 4.3e-06 and 4.29e-06.

Structure & Formations

Price action on RONINBTC displayed multiple failed bullish attempts in the 4.3e-06–4.32e-06 range, where volume spikes indicated rejection. A key support level emerged at 4.26e-06–4.28e-06, where the price found temporary refuge after a sharp drop. A bearish engulfing pattern formed around 04:15 ET, confirming downward momentum. Conversely, a doji formed near 08:00 ET, signaling potential exhaustion in the short-term downtrend.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed below the price line, reinforcing the bearish bias. The 50-period MA at ~4.31e-06 acted as a resistance level in multiple candle intervals. No clear bullish crossover was observed, suggesting the short-term trend remains bearish.

MACD & RSI

MACD remained negative throughout most of the session, with bearish divergence in the final hours. RSI dropped into oversold territory near 30 at 06:00 ET, hinting at potential for a short-term bounce. However, this divergence did not trigger a strong reversal, and price continued its gradual descent until the 12:00 ET close. The bearish momentum remains intact, but short-term corrections could be on the horizon.

Bollinger Bands

Bollinger Bands showed a mild expansion during the session, with the price frequently touching the lower band around 4.26e-06–4.28e-06. Volatility remained moderate, with the bands tightening slightly after the 06:00 ET mark, suggesting potential for a breakout. However, the price has yet to show strength to push above the mid-band, which currently sits around 4.3e-06.

Volume & Turnover

Volume surged at key price levels, notably at 4.29e-06 and 4.3e-06, where price consolidated briefly. These spikes indicated strong bearish participation during the downward moves. Notional turnover also increased during these intervals, confirming the price rejection. Divergences were minimal, but the bearish bias was reinforced by consistent selling pressure.

Fibonacci Retracements

Key Fibonacci retracement levels on the 15-minute chart were observed around 4.31e-06 (38.2%) and 4.29e-06 (61.8%), where price stalled for brief periods. These levels acted as temporary resistance and support, confirming the bearish trend structure. Daily-level retracement levels were not reached during the 24-hour period, but the trend continued to favor the downside.

Backtest Hypothesis

A potential backtest strategy for RONINBTC could focus on shorting on breakouts below key 15-minute Fibonacci retracement levels, particularly when RSI enters oversold territory and Bollinger Bands show contraction. The hypothesis would look for confirmation of bearish momentum through bearish engulfing patterns and divergence in the MACD. A stop-loss could be placed just above a 50-period moving average to filter false breakouts. Given the recent volume spikes and failed bullish attempts at 4.3e-06 and 4.31e-06, this setup could offer favorable risk-to-reward ratios in the coming 24 hours.