Market Overview: Tutorial/USDC (TUTUSDC) — 24-Hour Candlestick Analysis

• Price fell from $0.0197 to $0.0185 amid low liquidity and diverging volume
• RSI near oversold territory at 29.7 suggests potential for rebound
• Bollinger Bands show tightening volatility before a sharp drop
• Turnover surged on the descent, indicating increased selling pressure
• 20-period MA is bearish, confirming downward bias

The TUTUSDC pair opened at $0.01932 on 2025-11-01 12:00 ET and closed at $0.01891 by 2025-11-02 12:00 ET. The price reached a high of $0.01986 and a low of $0.0185, with total traded volume of 6.59 million TUT and turnover of $123,281. The 24-hour move shows a bearish bias with declining momentum and diverging volume patterns.

Structure & Formations

The price action displays a bearish breakdown below the 20-period MA, with key support levels forming at $0.0193 and $0.0190. A large bearish engulfing pattern formed near $0.0195, confirming the downward shift. Several doji candles appear in the $0.0190–$0.0193 range, suggesting indecision among traders near the lower Bollinger Band.

Moving Averages & Momentum

The 20- and 50-period moving averages (15-min chart) are both bearish, with the 50 MA trailing below the 20 MA. RSI is currently at 29.7, nearing oversold territory and hinting at potential for a short-term bounce. However, the MACD is negative and declining, showing waning bullish momentum.

Volatility & Fibonacci Levels

Bollinger Bands have contracted in the early morning before a sharp sell-off, indicating a possible breakout. Fibonacci retracement levels suggest a key 61.8% retracement at $0.0190, where traders may expect a temporary reversal. Volume spikes are aligned with price declines, reinforcing bearish conviction.

Backtest Hypothesis

Due to missing MACD data for the TUTUSDC pair, a standard MACD-based backtest could not be completed. The absence of the symbol from the data provider likely reflects either a formatting issue (e.g., incorrect symbol convention) or the pair being under-covered. To proceed, a revised symbol format (e.g., “TUT/USDC” on a specific exchange) should be confirmed. Alternatively, a different data source or proxy asset could be used to simulate the MACD Death Cross event. This would allow for a more robust backtesting strategy to identify sell signals based on bearish divergences and crossover events.