Market Overview: Rootstock Infrastructure Framework/Tether (RIFUSDT)

Summary
• Price declined from 0.0377 to 0.0368 amid increasing bearish momentum.
• Key support tested near 0.0368, with no strong rejection observed.
• Volume surged in early morning hours but failed to confirm a reversal.
• RSI entered oversold territory, suggesting potential short-term bounce.

At 12:00 ET − 1, RIFUSDT opened at 0.0376 and traded between 0.0377 and 0.0367 over the next 24 hours, closing at 0.0368 at 12:00 ET. Total volume reached 5.399 million contracts, with notional turnover amounting to $19,949.11.

Structure & Formations

Price action formed a bearish exhaustion pattern late in the session, with a long bearish candle at 06:30 ET that confirmed pressure below key psychological support at 0.0368. No bullish reversal patterns were observed, with a series of spinning tops and inside bars suggesting indecision.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages both trended lower, reinforcing the bearish bias. The daily chart shows the 50-period MA as a critical line of resistance near 0.0376, which price may test in the coming 24 hours.

MACD & RSI

The 5-minute MACD showed bearish divergence as the price made lower highs but the indicator failed to confirm a strong bearish signal. RSI dipped into oversold territory (below 30) early on 01/18, hinting at potential short-term buying interest.

Bollinger Bands

Volatility increased through the night session, with RIFUSDT hitting the lower band around 06:30 ET, a sign of heightened bearish pressure. The bands remain relatively wide, suggesting ongoing uncertainty and potential for further consolidation.

Volume & Turnover

A sharp spike in volume occurred at 06:30 ET as price broke below 0.0369. However, turnover failed to confirm this breakdown, with the volume surge being largely driven by low-price trades. This divergence may point to a temporary decline rather than a definitive trend reversal.

Fibonacci Retracements

The recent 5-minute decline from 0.0377 to 0.0368 aligns with a 61.8% retracement level, which is often a zone of significance for potential bounces. On the daily chart, the 38.2% retracement is at 0.0371 and could see renewed interest if buyers return.

Price appears to have found a near-term floor but lacks the conviction to rally back above 0.0375. Traders may watch for a potential bounce off 0.0368, though a breakdown below that level could accelerate the decline. Investors should remain cautious given the fragile support and bearish momentum.