Raydium/Tether (RAYUSDT) Market Overview

Summary
• RAYUSDT declined from a high of $1.476 to $1.338 amid bearish momentum.
• RSI hit oversold levels below 30, suggesting potential near-term bounce.
• Volatility expanded as price swung nearly 8% intraday, with volume peaking in the early session.
• Key support found near $1.340–1.350, with resistance at $1.360–1.370.
• Bollinger Bands widened, reflecting increased uncertainty and consolidation in the final hours.

Raydium/Tether (RAYUSDT) traded in a volatile range on November 4, 2025, opening at $1.473 and falling to a low of $1.338 before closing at $1.353 at 12:00 ET. Total volume reached 748,476 units, with turnover exceeding $1.05 million. The pair experienced significant downward pressure early in the session, followed by a partial rebound in the afternoon and evening hours.

Price action revealed a bearish bias throughout the morning, with a sharp drop from $1.476 to $1.338 between 19:00 and 21:15 ET. This decline was supported by rising volume and a clear breakdown of the prior 24-hour low. Momentum indicators reflected this bearish phase, with the RSI dropping below 30 and MACD lines showing bearish divergence. Later in the session, a recovery attempt emerged, but it lacked conviction as volume diminished. Bollinger Bands expanded during the decline, signaling heightened volatility and uncertainty.

Key support levels emerged around $1.340–1.350, with a cluster of buying interest observed during the afternoon and evening hours. Resistance remains near $1.360–1.370, where price has previously stalled or reversed. Moving averages on the 15-minute chart suggest a continuation of bearish pressure, with the 20-period and 50-period EMAs both in a downward trend. On the daily chart, the 50- and 200-period SMAs are still aligned bearishly, though a rebound to the 38.2% Fibonacci retracement level of $1.366 suggests some potential for near-term consolidation.

The market may test the $1.340–1.350 range in the next 24 hours for confirmation of a short-term bottom. Traders should remain cautious, however, as volume has not fully confirmed the reversal and broader market sentiment remains mixed. A break above $1.365 could signal renewed bullish momentum, but failure to hold above $1.350 may lead to further downside.

A potential backtest strategy for RAYUSDT could focus on identifying and validating the effectiveness of the Bearish Engulfing pattern during recent downtrends. However, due to a lack of available pattern records in the data provider’s system for this asset, alternative strategies should be considered. For example, testing the Bullish Engulfing pattern or using RSI oversold signals (below 30) in conjunction with volume spikes could provide a more robust framework for evaluating market reversals. If you have a list of dates when RAYUSDT exhibited the Bearish Engulfing pattern, I can proceed with a manual backtest using those. Alternatively, we can pivot to a similar strategy using a different pattern or asset pair with better data availability.