RVNUSDT Market Overview: Breaking Down Key Support Amid Surging Selling Pressure

Summary
• Price fell from 0.00806 to 0.00777, breaching key support levels during a high-volume sell-off.
• A bearish engulfing pattern formed near 0.00806, followed by a breakdown below 0.00787 support.
• Momentum weakened as RSI dropped below 30, indicating potential oversold conditions.
• Volatility expanded during the breakdown, with Bollinger Bands widening significantly.
• Notional turnover surged over 160 million USD, aligning with the price decline for confirmation.

Ravencoin/Tether (RVNUSDT) opened at 0.00788 on 2025-12-06 at 12:00 ET, hit a high of 0.00806, and a low of 0.00751, closing at 0.00777 by 12:00 ET on 2025-12-07. Total volume was approximately 73.5 million RVN, with a notional turnover of ~$57.5 million over 24 hours.

Structure & Formations

The pair formed a bearish engulfing pattern near 0.00806, followed by a breakdown below the key 0.00787 support level. Price then tested the 0.00785 level before breaking down further to 0.0077. A potential double-bottom structure may form if the 0.0075–0.0077 area holds as a new support.

Moving Averages

On the 5-minute chart, price closed below both the 20EMA and 50EMA, suggesting bearish momentum. On the daily chart, the 50/100/200DMA alignment is neutral, with no clear bias from longer-term averages.

MACD & RSI

The MACD crossed below the signal line with negative divergence, confirming bearish momentum. RSI has declined below 30, suggesting oversold conditions, though a bounce may not yet indicate a reversal.

Bollinger Bands

Volatility expanded sharply during the breakdown, with Bollinger Bands widening and price closing near the lower band. This suggests a potential continuation of the downtrend if buyers remain absent.

Volume & Turnover

Volume surged during the breakdown below 0.00785, especially in the 20:45–21:45 ET window. Notional turnover also spiked over $50 million during the selloff, reinforcing the bearish bias.

Fibonacci Retracements

Key Fibonacci levels (0.0079–0.0078, 38.2% and 61.8%) failed to provide support, confirming the breakdown. A potential rebound may test the 0.0078–0.00785 range, but without strong follow-through, the 0.0076 level could be next.

Over the next 24 hours, traders may watch for a potential bounce from the 0.0075–0.0077 range or a continuation of the downtrend below 0.0076. A sharp increase in turnover without a reversal in price may signal more bearish pressure ahead.