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

Summary
• RAREUSDT formed a bullish engulfing pattern near 0.0232, suggesting potential reversal from a 5-minute downtrend.
• Price broke above 0.0235–0.0236 resistance with increasing volume, signaling short-term strength.
• Volatility expanded significantly in late morning ET, with high turnover during the 06:30–07:30 ET window.
• RSI reached 60+ in afternoon trading, indicating moderate bullish momentum but not overbought territory.
• Bollinger Bands widened as price surged to the upper band during the 06:30–09:00 ET period.

SuperRare/Tether (RAREUSDT) opened at 0.0232 on 2026-01-16 12:00 ET, reached a high of 0.0248, and closed at 0.0242 as of 2026-01-17 12:00 ET. The 24-hour trading period saw a total volume of 49,793,083.2 and notional turnover of 1,201,684.13.

Structure & Formations

RAREUSDT formed a bullish engulfing pattern around 0.0232 as buying pressure absorbed the prior bearish bias. A strong upward breakout from the 0.0235–0.0236 resistance zone followed, marked by a large-volume candle on 2026-01-17 06:30 ET. Price then surged past the upper Bollinger Band during the morning hours, suggesting rising volatility and bullish momentum.

Moving Averages and Momentum

On the 5-minute chart, price closed above both the 20 and 50-period moving averages, confirming a short-term upward bias. MACD crossed above the signal line in mid-morning, supporting the bullish turn. RSI climbed into the 60–65 range, indicating moderate strength, but not yet overbought, suggesting the uptrend could continue.

Volatility and Turnover

Volatility expanded significantly between 06:30–07:30 ET, coinciding with a sharp price move to 0.0244–0.0245. Turnover spiked during this period with over 96k USD volume, indicating strong buyer participation. Later in the day, volume remained robust but declined, with price consolidating near the 0.0242–0.0243 range.

Fibonacci and Support/Resistance

A key Fibonacci level at 0.0236 (38.2%) acted as support earlier in the day, and the 0.0242–0.0244 zone aligns with the 50% retracement level of the recent consolidation. The 0.0245–0.0246 level now appears as the next potential resistance, with a break above this range likely to signal a broader bullish phase.

The uptrend appears well-supported by both price and volume action, and the current momentum may carry RAREUSDT further toward 0.0246–0.0248 in the next 24 hours. However, a pullback to test the 0.0238–0.0240 zone could occur if short-term overbought conditions develop. Investors should watch for signs of divergence in RSI and volume to assess the sustainability of the move.