Market Overview for Tutorial/USDC (TUTUSDC) – 2025-10-09

• Price for TUTUSDC traded in a tight range early, then surged to a high of $0.09283 before retreating to $0.08624 by the 24-hour close.
• The pair experienced a 24-hour volume of 9,179,181.0 and a notional turnover of $782,816.81.
• Key support around $0.087–0.08835 and resistance at $0.0895–0.0905 emerged from recent swing levels.
• Momentum, as seen in the RSI, indicated overbought conditions during the peak but is now trending downward.
• Bollinger Bands widened significantly during the upward move, signaling a volatility spike.

Price Action and Volume Behavior

TUTUSDC opened at $0.08688 on 2025-10-08 at 16:00 ET and reached a high of $0.09283 during the day. The price closed at $0.08839 at 12:00 ET on 2025-10-09. Over the 24-hour period, trading volume amounted to 9,179,181.0, with a notional turnover of $782,816.81. Notably, price surged past key resistance levels between $0.088 and $0.0895 during the morning session, only to consolidate lower in the afternoon. A potential bearish divergence is forming in volume as price declines appear to lack supporting strength, suggesting caution for near-term buyers.

Support and Resistance Structures

The structure of the past 24 hours reveals multiple key levels. Support is clustering between $0.087 and $0.08835, with notable rejection candles at these levels. Resistance appears to reside between $0.0895 and $0.0905, where the price failed to maintain its strength despite early attempts. A bearish engulfing pattern emerged after the initial push above $0.0900, followed by a doji near $0.0895 that suggested indecision. These formations may signal a potential reversal or consolidation phase in the near term.

Moving Averages and Momentum

Using a 20-period and 50-period moving average on the 15-minute chart, the price appears to have moved above both in the morning, indicating a short-term bullish bias. However, this crossover was quickly reversed, with the price dipping below the 50-period MA in the late afternoon. The 50-period daily MA, based on the last 50 daily candles, appears to sit near $0.08825, indicating a potential pivot point. The RSI showed a rapid rise into overbought territory, peaking at around 75, before declining toward neutral levels by the close, suggesting a waning bullish momentum.

Volatility and Fibonacci Levels

Bollinger Bands widened significantly during the morning price surge, indicating increased volatility, but have since contracted as the price consolidated. The 20-period Bollinger Band width hit a peak of approximately 0.0019 before retracting, suggesting that the move may be losing steam. Fibonacci retracement levels drawn from the high of $0.09283 to the low of $0.08624 highlight key potential areas of interest: 38.2% at $0.0885 and 61.8% at $0.0909. The price is currently hovering near the 38.2% level, where it may face either support or rejection.

Volume and Turnover Divergences

Notional turnover surged during the morning spike to $0.09283, with a 15-minute candle on 2025-10-09 at 10:15 ET showing a turnover of $75,190.58 and volume of 850,341.0, representing the single largest spike of the period. However, during the price’s retreat, volume has not remained consistent, with several candles showing lower turnover despite continued price movement. This divergence could indicate weakening conviction in the bullish case. Conversely, when the price broke below $0.0885, the volume was relatively subdued, hinting at a lack of aggressive bearish pressure.

Backtest Hypothesis

A potential backtest strategy could involve leveraging the observed Fibonacci retracement and RSI behavior. A long entry could be triggered on a bullish crossover of the 20-period and 50-period moving averages, with a stop-loss placed below the 38.2% Fibonacci level at $0.0885. Alternatively, a short trade could be initiated if the price fails to maintain above this level and breaks back below, with a target at the 61.8% retracement at $0.0909. This approach would use RSI to confirm overbought conditions and Bollinger Bands to assess volatility shifts, offering a balanced method for entry, exit, and risk management in the short term.