JUVUSDC Market Overview

• Price surged 18.4% in 24 hours, closing near a 24-hour high of 1.097.
• Strong volume spike near 16:00 ET suggests aggressive buying pressure.
• RSI crossed into overbought territory, hinting at potential pullback risks.
• Bollinger Bands show recent contraction, suggesting a break could follow.
• Fibonacci levels indicate key resistance near 1.098–1.104, with support at 1.065–1.077.

At 12:00 ET on 2025-10-04, Juventus Fan Token/USDC (JUVUSDC) opened at 1.085, hit a high of 1.119, a low of 1.065, and closed at 1.097. Total volume was 25,865.45, and turnover was 28,696.82. The price action indicates a strong bullish bias supported by increased volume and directional momentum.

Structure & Formations

The 24-hour chart shows a bullish trend with multiple higher highs and higher lows, especially after 15:00 ET. A key support level appears to be forming around 1.065–1.077, as seen in several retests. A notable bullish engulfing pattern appeared around 15:15 ET and confirmed a breakout. A potential resistance zone is forming between 1.098 and 1.104, which could act as a barrier if buyers overextend.

Moving Averages

Short-term moving averages (20/50) on the 15-minute chart crossed into a bullish configuration, supporting the recent upward trend. On a daily scale, the 50 and 100-period SMAs are converging, suggesting a possible continuation of the bullish momentum in the near term.

MACD & RSI

The MACD has been in positive territory for most of the day, confirming the bullish momentum. However, the RSI has recently entered overbought levels (above 70), suggesting a potential correction could occur if buying pressure wanes. The divergence between RSI and price action may signal caution ahead.

Bollinger Bands

Bollinger Bands show a period of volatility contraction in the early hours, followed by an expansion during the 15:00–16:00 ET window. The price closed near the upper band at 1.119, indicating strong bullish pressure. A potential consolidation or pullback into the middle band could follow.

Volume & Turnover

Volume spiked significantly around 15:45 ET and again at 16:00 ET, coinciding with key price movements. Notional turnover also surged during these periods, suggesting strong institutional or large-cap buyer involvement. The increase in volume and turnover aligns with the bullish price action, indicating confirmation rather than divergence.

Fibonacci Retracements

Fibonacci levels based on the recent swing from 1.065 to 1.119 show key resistance at 1.104 (61.8%) and support at 1.092 (38.2%). A potential pullback to the 1.092 level could test the strength of the ongoing bullish move. The 1.065–1.077 support zone may act as a key floor if the price breaks below the current levels.

Backtest Hypothesis

A potential backtesting strategy would involve entering long positions after a bullish engulfing pattern and a close above a 50-period SMA on the 15-minute chart, with a stop-loss placed below the 20-period SMA. A target of 1.098–1.104 (based on Fibonacci and RSI overbought levels) would aim to capture short-term momentum. If the price fails to hold above 1.077, a short trade might be triggered, with a stop above 1.085 to limit risk.