RedStone/Tether (REDUSDT) Market Overview: 2025-09-24

• RedStone/Tether (REDUSDT) traded in a 24-hour range between 0.5063 and 0.5341, closing near the lower end of the range at 0.5237
• A strong bearish impulse occurred during the early NY trading session, followed by consolidation and a modest rebound
• High volume during the 06:00–07:00 ET window suggested a major price pivot, while RSI hit oversold territory in late trading
• Bollinger Bands widened during the sharp drop but have since narrowed, signaling potential re-balancing and reduced volatility
• No clear 15-min reversal patterns emerged, though the final candle closed near a Fibonacci 38.2% retracement level, hinting at possible short-term stability

RedStone/Tether (REDUSDT) opened at 0.513 on 2025-09-23 12:00 ET and reached a high of 0.5341 before settling at 0.5237 by 12:00 ET the next day. The pair traded as low as 0.5063 during the session. Total volume amounted to 1,440,908.6, with a notional turnover of approximately 728,094.85 (based on volume × average price). The price action reflected strong bearish pressure during the early hours of NY trading, followed by a modest recovery in the afternoon and evening.

Structure & Formations

The price action revealed a bearish breakdown from key resistance levels observed in the early morning hours, followed by a period of consolidation. The low at 0.5063 served as a critical support zone during the afternoon, where buying interest briefly reappeared. No major bullish engulfing patterns emerged in the 15-min chart, but a small doji formed near the 0.5237 level in the late session, suggesting indecision and potential support. A key Fibonacci retracement level at 0.5253 (38.2%) aligned with the final candle’s close, hinting at possible short-term stability.

Moving Averages

A 20-period and 50-period moving average on the 15-min chart indicated a strong bearish bias during the early morning hours, with the 20SMA falling below the 50LMA. By midday, the 20SMA had started to approach the 50LMA, suggesting potential equilibrium. On the daily chart, the 50DMA had not yet crossed the 200DMA, indicating a continuation of a broader bearish trend but with signs of a possible near-term stabilizing trend forming.

MACD & RSI

The MACD turned negative in the early hours, confirming bearish momentum. While it showed a minor divergence in the late afternoon, the signal line remained bearish. RSI hit oversold territory (around 30) in the evening and early night, suggesting possible exhaustion of the downward move and hinting at short-term buying interest. However, the RSI remains under 50, maintaining a bearish outlook.

Bollinger Bands

During the early morning drop, the bands widened significantly, reflecting high volatility. As the price stabilized later in the day, the bands contracted, signaling reduced uncertainty and potential consolidation. The close of the 15-min chart was near the middle band, suggesting a potential balance between bearish and bullish forces in the immediate term.

Volume & Turnover

Volume spiked during the 06:00–07:00 ET window, corresponding to the sharp price drop, and remained elevated throughout the morning. The highest turnover was observed in the 06:45–07:00 ET 15-min window, with volume exceeding 109,804.5. However, volume dropped significantly in the late evening and into the night, aligning with the price consolidation. Notably, the price closed lower on high volume, reinforcing the bearish sentiment.

Fibonacci Retracements

The 0.5237 closing price aligned with the 38.2% Fibonacci retracement level from the high of 0.5341 and low of 0.5063, indicating potential near-term support. The 61.8% retracement level is at 0.5264, and if the price closes above this level over the next 24 hours, it could signal a bullish reversal. Conversely, a break below 0.5237 may push the price toward 0.5223, another Fibonacci level.

Backtest Hypothesis

Given the observed price structure, a potential backtesting strategy could involve a short-term reversal setup targeting the 0.5237–0.5264 range as a key pivot zone. A long entry could be triggered on a close above the 61.8% retracement level (0.5264) with a stop-loss placed below 0.5237. For the bearish case, a short entry could be initiated on a break below 0.5237 with a stop above 0.5264. This strategy would leverage Fibonacci levels, RSI divergence, and volume confirmation to assess potential directional bias and risk-reward ratios.