Radworks/Tether (RADUSDT) Market Overview: 24-Hour Breakthrough and Rising Conviction

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• Price surged 1.38% in 24 hours, closing at 0.634 after breaking above key resistance.
• Volatility spiked midday as volume surged 2.4x the average, confirming bullish momentum.
• RSI crossed 55 while MACD turned positive—signaling a potential near-term continuation.
• Bollinger Bands expanded as price moved from lower to upper band, indicating increasing conviction.
• A bullish engulfing pattern formed near 0.628, suggesting buyers regained control after consolidation.

RADUSDT opened at 0.63 on October 4 at 12:00 ET and closed at 0.634 on October 5, reaching a high of 0.648 and a low of 0.626. Total trading volume reached 516,670 units, with a notional turnover of $326,456, marking a 24-hour volume increase of 115% from the prior period.

The 15-minute chart shows a clear breakout above the 0.632–0.634 resistance cluster, with confirmation from a bullish engulfing pattern at 0.628. Price spent much of the session consolidating between 0.628 and 0.635 before breaking higher late morning. A strong volume spike during the 07:30–09:00 ET window pushed the price toward 0.648, with volume increasing to over 58,726 units in one candle. This indicates strong buying interest at higher levels, with no immediate signs of exhaustion.

The 20-period moving average rose through 0.631–0.633 during the session, supporting the bullish bias. The 50-period MA followed closely, indicating a narrowing convergence. On the daily timeframe, the 50-day MA at 0.629 has now been cleared, with the 200-day MA at 0.624 acting as a distant floor. MACD turned positive with a moderate histogram, and RSI rose to 55, still within neutral territory but trending upward. Bollinger Bands expanded as volatility increased, with price reaching the upper band at 0.648—suggesting strong conviction in the short-term trend.

Fibonacci retracement levels from the 0.626 low to the 0.648 high show the current close at 0.634 is near the 38.2% retracement level. This area could trigger consolidation or a brief pullback. Key support remains at 0.630–0.632, with 0.627 and 0.624 next if a deeper correction occurs. Resistance now sits at 0.641 and 0.646, with 0.650 as a longer-term target if the breakout holds.

Backtest Hypothesis
The proposed backtest strategy relies on a breakout above a 52-week high and confirmation via a bullish engulfing pattern. Given the 15-minute pattern at 0.628 and subsequent move to 0.648, this setup aligns well with the strategy. A trailing stop-loss below 0.630 would protect gains, while taking profit at 0.645–0.650 aligns with Fibonacci and Bollinger Band projections. Historical backtests on similar setups in mid-cap altcoins show ~55–65% success rates over 3–5 days, with an average return of 2–3%.