Market Overview for SuperRare/Tether (RAREUSDT): 24-Hour Breakdown

• RAREUSDT dropped 3.12% in 24 hours, closing near intraday support at $0.0610.
• Volatility expanded during the overnight sell-off, with volume surging above 10M.
• RSI entered oversold territory, hinting at potential near-term bounce.
• MACD crossed into bear territory, confirming bearish momentum.
• Key support at $0.0590 and resistance at $0.0630 define likely near-term range.

Opening and Closing Data

SuperRare/Tether (RAREUSDT) opened at $0.0639 on 2025-09-16 at 12:00 ET and traded as high as $0.0645 before closing at $0.0610 at 12:00 ET on 2025-09-17. The 24-hour low was $0.0601. Total volume reached 94,594,405.04, with notional turnover amounting to $6,361.52.

Structure & Formations

The candlestick pattern shows a strong bearish trend over the past 24 hours, with key support levels emerging at $0.0610 and $0.0590. A long bearish candle at 19:30 ET on 2025-09-16 marked a critical breakdown below prior support at $0.0611, closing at $0.0603. This forms a strong bearish continuation pattern. A potential short-term reversal could materialize near $0.0590, but further confirmation is needed.

Moving Averages and Momentum Indicators

On the 15-minute chart, the price is below both the 20- and 50-period SMAs, reinforcing the bearish bias. The 50-period SMA is at $0.0623, acting as resistance. The daily chart shows the price also below the 50-, 100-, and 200-period SMAs, suggesting a continuation of the downtrend.

The RSI is at 27, indicating oversold territory, which could lead to a short-term rebound. However, the MACD is negative and has crossed into bear territory, confirming the ongoing bearish momentum.

Bollinger Bands and Volatility

Bollinger Bands show increasing volatility, especially during the overnight hours. The price spent most of the session below the middle band, with a few attempts to retest it. A contraction in volatility was noted just before the overnight sell-off, suggesting a potential continuation of the bearish trend.

Volume & Turnover

Volume surged above 10M during the key breakdown candle, confirming the bearish shift. Notional turnover also increased during the sell-off, aligning with price action. However, volume has since declined on the lower timeframes, suggesting some exhaustion in the bearish bias. A breakout above $0.0610 with a sharp increase in volume may indicate a short-term reversal.

Fibonacci Retracements

Applying Fibonacci retracements to the most recent 15-minute swing (from $0.0639 to $0.0601), key levels are at $0.0623 (38.2%), $0.0615 (50%), and $0.0607 (61.8%). The price has bounced slightly off the 61.8% retracement level but failed to hold above $0.0615. On the daily chart, Fibonacci levels could offer resistance and support at $0.0627 and $0.0595, respectively.

Backtest Hypothesis

Given the current technical setup, a potential backtest strategy could involve a short position upon a confirmed close below $0.0610, with a stop above the 50% retracement at $0.0615 and a target at $0.0590. A long entry could be considered on a rebound above $0.0615, with a stop below the breakdown level at $0.0603. The RSI in oversold territory and the bearish MACD suggest that this strategy could capitalize on the current bearish momentum while managing risk through defined entry and stop levels.