Market Overview for Turbo/USDC (TURBOUSDC) on 2025-10-23

• Turbo/USDC opened at $0.002389 and closed at $0.002321, with a 24-hour low of $0.002183.
• Price action shows a bearish bias with a 3.7% decline, indicating pressure below $0.0023.
• Volatility spiked during the session, with a large 15-minute bar at 21:15 ET showing a 100-basis-point range.
• Volume was uneven, with a large drop-off after 03:00 ET and renewed buying interest after 06:00 ET.
• Turnover was dominated by selling in the early hours, but buying picked up toward the close.

The pair Turbo/USDC (TURBOUSDC) opened at $0.002389 at 12:00 ET–1 and closed at $0.002321 by 12:00 ET, reaching a high of $0.0024 and a low of $0.002183 during the 24-hour window. Total volume traded was 12,434,402.0 units, with notional turnover amounting to approximately $29,208. The price moved decisively lower, especially from 21:15 ET to 06:00 ET, with bearish momentum and several large down candles confirming the selling pressure.

Structure & Formations

Price formed a series of lower highs and lower lows, confirming a bearish trend. Key support levels emerged near $0.00228 and $0.00224, with a test and rebound from $0.00228 observed in the early morning hours. A notable bearish engulfing pattern developed at 00:00 ET as price opened at $0.00228 and closed at $0.002313, followed by a reversal down. A potential short-term support zone may be developing around $0.00227, which coincided with a cluster of tight-range bars.

Moving Averages

On the 15-minute chart, the 20- and 50-period moving averages remained in a downward bias, with price trading significantly below both. The 20SMA crossed below the 50SMA in the early hours, forming a bearish signal. On the daily chart, price remains below the 50, 100, and 200-period moving averages, reinforcing the medium-term bearish outlook. A further breakdown below the 200DMA could trigger deeper corrections toward $0.00222 or below.

MACD & RSI

The MACD crossed below zero in the early part of the session and remained in negative territory, with a bearish divergence forming as price made lows but the MACD failed to do so. RSI moved into oversold territory near 30 during the morning hours and briefly rebounded above 40 but failed to sustain the rise. This suggests exhaustion in the bearish move and could hint at a near-term pullback, though a strong follow-through rally remains unlikely without a reversal above $0.00235.

Bollinger Bands

Price action saw a clear expansion of the Bollinger Bands between 19:15 ET and 06:00 ET, indicating rising volatility. The price remained in the lower half of the band for most of the session, reinforcing the bearish pressure. A contraction in band width occurred briefly after 03:00 ET but was quickly followed by a new expansion as selling picked up. Price is currently near the lower band at $0.00227–$0.00229, which may act as a short-term floor if the oversold RSI conditions persist.

Volume & Turnover

Volume spiked to over 8 million units at 21:15 ET and again at 06:30 ET, confirming the bearish breakdown in both instances. However, the volume during the rally in the morning was relatively light, suggesting a lack of conviction. Notional turnover was heaviest between 21:15 ET and 06:30 ET, aligning with the largest price move. The lack of volume during the morning rebound suggests that any short-term bounce could be limited in scope.

Fibonacci Retracements

Applying Fibonacci to the key 15-minute move from $0.002385 to $0.002183, price found support at the 61.8% level near $0.00225, which was tested and bounced off in the early morning. A potential next target for the bears is the 78.6% retracement at $0.00220. On the daily chart, the 50% retracement of the broader downtrend remains at $0.00229, which could see renewed interest if the RSI continues to show signs of exhaustion.

Backtest Hypothesis

Given the bearish momentum confirmed by the MACD and RSI, a potential backtesting strategy could involve a 5-day-hold approach triggered when RSI falls below 30. This strategy would be suitable for Turbo/USDC given the recent oversold readings and the bearish divergence observed. Testing this approach from 2022-01-01 to present would help determine its efficacy in similar market conditions. If price breaks above $0.00235 with increasing volume, the RSI could offer a more balanced entry point for short-term countertrend traders.