Market Overview for Tutorial/USDC (TUTUSDC) on 2025-10-03

• Price fluctuated between 0.0828–0.0841 on TUTUSDC over 24 hours.
• Key resistance at 0.08404–0.08407; support at 0.08385–0.08383.
• High volatility observed in early morning hours, followed by consolidation.
• Volume spiked during price corrections, indicating potential short-term reversal signals.
• RSI and MACD suggest mixed momentum with no clear overbought/oversold levels yet.

The TUTUSDC pair opened at 0.08404 on 2025-10-02 at 12:00 ET and closed at 0.08404 on 2025-10-03 at the same time. During the 24-hour window, it reached a high of 0.08412 and a low of 0.08274. Total volume was approximately 2,788,842.0 units, and notional turnover was approximately 230.99 USD, assuming an average price of ~0.0827.

Structure & Formations

The 24-hour candlestick chart of TUTUSDC shows a relatively narrow range with a few distinct price swings. A bearish engulfing pattern emerged early in the session at 16:15 ET-1, followed by a long bearish candle at 16:30 ET-1 that confirmed downward momentum. Later in the morning, around 03:30 ET, a bullish reversal pattern appeared near the key support level of 0.08385, which coincided with a consolidation phase. A doji at 03:45 ET and another near 10:00 ET indicated indecision among market participants.

Moving Averages

Over the 15-minute time frame, the 20-period and 50-period moving averages were closely aligned, suggesting a neutral to slightly bullish bias during consolidation. The 50-period MA acted as a dynamic support during the early morning correction phase, helping to stabilize the pair. On the daily chart, the 50, 100, and 200-period MAs were relatively flat, with no clear trend forming, suggesting the market may remain range-bound or experience a gradual upward bias if the 50-period MA continues to provide support.

MACD & RSI

The MACD showed a mixed signal during the 24-hour period, with a slight positive divergence forming as the price hit the low of 0.08274 and then rallied to 0.0839. The RSI fluctuated between 40 and 60, indicating a neutral to slightly overbought condition at the upper end, with no strong bearish or bullish divergences detected. This suggests that the market was not overextended, and the price could remain in a balanced equilibrium for the next 24 hours.

Bollinger Bands

Volatility expanded in the early hours of the session, with price trading closer to the upper band before retreating to the lower band by 05:00 ET. A period of contraction followed between 05:30 ET and 07:00 ET, indicating a potential setup for a breakout or reversal. By 08:00 ET, price had settled within the band range, suggesting a return to normal volatility levels.

Volume & Turnover

Volume was highest during the price corrections at 16:15 ET-1 and 03:30 ET, with notional turnover showing confirmation of these price movements. The largest volume spike occurred at 16:15 ET-1, where price dropped by nearly 0.9% on heavy turnover. Later in the session, volume declined after the 03:30 ET rally, indicating a shift in momentum and the possible formation of a short-term support level at 0.08385.

Fibonacci Retracements

Applying Fibonacci retracement levels to the 15-minute swing from 0.08477 to 0.08274, the 38.2% and 61.8% levels aligned with the key support at 0.08385 and resistance at 0.08407, respectively. These levels appear to have held during the 24-hour period, reinforcing their importance for short-term traders.

Backtest Hypothesis

The backtesting strategy described involves entering long positions upon a bullish engulfing pattern forming below the 20-period MA and confirming a break above it, with a stop-loss placed below the nearest support and a target at the 61.8% Fibonacci level. Over the last 24 hours, this setup was observed near 03:30 ET at the support level of 0.08385, where the price closed above the 20-period MA and formed a bullish reversal pattern. This suggests the strategy could be viable in a range-bound environment with clear support and resistance levels. However, confirmation by the next 24-hour candle will be key to assessing the effectiveness of the setup.