JUVUSDC Market Overview

Summary
• The Juventus Fan Token/USDC pair rose 0.79–0.804 before consolidating near 0.795.
• Momentum waned in the final hours as volume dropped.
• A bearish engulfing pattern formed near 0.802–0.795.

Market Overview

The Juventus Fan Token/USDC (JUVUSDC) pair opened at 0.789 on 2025-11-07 12:00 ET and rose to an intraday high of 0.804 before closing at 0.795 as of 12:00 ET on 2025-11-08. Over the 24-hour period, the pair traded between 0.786 and 0.804, with total trading volume of 17,162.05 and notional turnover of approximately $13,583. Price action suggests a tug-of-war between buyers near 0.802 and sellers below 0.795.

Structure & Formations

The pair formed a bearish engulfing pattern between 0.802 and 0.795, suggesting a potential reversal from a bullish bias. A key support level appears to be forming at 0.786–0.791, where the last few candles closed with minimal movement and low volume. Resistance remains at 0.802, where several candle closes clustered.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages appear to be converging near the 0.791–0.795 range, suggesting a short-term equilibrium. Longer-term averages are not yet available, but the 50-period line may act as a dynamic support.

MACD & RSI

The MACD line crossed the signal line near 0.804 and has since been trending lower, reflecting diminishing bullish momentum. The RSI reached overbought levels (above 70) near 0.804, then fell back to neutral levels (50–60), indicating waning bullish conviction and a potential pullback scenario.

Bollinger Bands

Price action in the late hours of the 24-hour period showed signs of volatility compression, with several candles closing near the midline of the bands. This may signal a potential breakout or breakdown in the near term, though confirmation is still pending. The last significant move from 0.786 to 0.804 was within a relatively narrow band, indicating a contained environment.

Volume & Turnover

Volume spiked near 0.802 and again at 0.795, with one candle (2025-11-07 19:30 ET) showing a massive volume of 3,500.0. However, the most recent hours saw a sharp drop in volume and turnover, which may indicate a lack of conviction among traders. A divergence between price and volume at 0.802–0.795 may point to a bearish reversal.

Fibonacci Retracements

Applying Fibonacci retracements to the key swing from 0.786 to 0.804, the 61.8% level aligns closely with the current price of ~0.795. This suggests that the pair may retest this area as either a support or a resistance depending on the direction of the next move. A break below 0.791 could expose the next 38.2% level at ~0.790.

Backtest Hypothesis

The RSI-overbought strategy described in the additional text—buying when RSI exceeds 70 and holding for 3 days—could be adapted to the JUVUSDC pair, which recently showed overbought conditions at 0.804. A backtest using daily 14-period RSI data would help evaluate the viability of such a strategy in this highly volatile, fan-driven market. However, the data provider’s inability to locate the symbol “HOLD.P” highlights the importance of verifying correct trading symbols and venues to ensure accurate backtesting.