Market Overview for Walrus/USDC (WALUSDC) — 2025-11-03

Summary
• Walrus/USDC opened at 0.2308 and closed at 0.2190 after a 24-hour decline.
• Price dropped to a low of 0.1982 in the late afternoon, triggering bearish momentum.
• Volume surged in the afternoon, with turnover exceeding 724k, suggesting increased bear pressure.
• RSI and MACD turned bearish, with RSI hitting oversold levels near 30.
• A key support appears to be forming around 0.208–0.210, with recent bounces and consolidation.

Walrus/USDC opened at 0.2308 at 12:00 ET-1 and closed at 0.2190 at 12:00 ET. The price traded as high as 0.233 and as low as 0.1982 during the period. Total volume amounted to 5,946,694.0 and total turnover was 1,297,865.7. The asset displayed strong bearish momentum after midday, with a sharp breakdown into oversold territory on the RSI.

Over the 24-hour period, WALUSDC formed a bearish descending triangle pattern with support at 0.218–0.220 and resistance at 0.228–0.230. The 20-period and 50-period moving averages on the 15-minute chart crossed bearishly (death cross), with the 50SMA below the 20SMA. On the daily chart, the 50-period and 200-period moving averages were aligned bearishly, reinforcing the longer-term downtrend.

Price action remained tightly within the Bollinger Bands during the morning, but volatility expanded significantly in the afternoon as the asset broke below the lower band. This expansion aligns with the bearish breakdown and confirms heightened selling pressure. The bands also helped highlight key support and resistance zones, with the midline acting as a temporary level of hesitation before the final leg down.

Relative strength index (RSI) crossed below 30 in the late afternoon, indicating oversold conditions, but failed to trigger a strong bounce, suggesting bearish conviction. Meanwhile, the MACD histogram turned negative and widened, confirming the strength of the bearish trend. Volume surged during the breakdown, especially between 15:30 and 16:00 ET, with turnover exceeding 724k on a 15-minute candle. This high-volume move coincided with a sharp price drop to 0.1982, confirming the move with strong bear participation.

Fibonacci retracement levels applied to the morning swing from 0.233 high to 0.218 low showed the 61.8% level at 0.224, which acted as a key resistance on multiple occasions. On the daily chart, the 50% retracement of the larger weekly range sits at 0.220, which may now serve as a critical psychological pivot for near-term direction.

Backtest Hypothesis
The backtesting strategy described is designed to evaluate the performance of a pattern-based trading rule, typically used for technical pattern identification. The strategy applies to Walrus/USDC and similar assets, and it uses daily close prices for pattern confirmation. Trades are subject to a holding period constraint of no more than three trading days, without the use of stop-loss or take-profit levels. The interactive results will allow investors to assess returns, drawdowns, and trade logs for a given time window. This method complements the technical analysis by quantifying the effectiveness of pattern-based signals in real-world conditions. The results could help validate key support/resistance levels and the strength of recent momentum signals.