Market Overview for ZBTUSDC on 2025-11-02

• ZBTUSDC opened at $0.2056 and reached a high of $0.2165 before closing at $0.2041.
• The price exhibited a bearish bias amid declining RSI and weakening momentum.
• Volatility remained subdued with Bollinger Band contraction in the final hours.
• Turnover spiked in early morning trading, but failed to confirm bullish sentiment.
• A key support level appears near $0.2035, with a potential bounce or breakdown likely.

Market Overview

ZEROBASE/USDC (ZBTUSDC) traded between $0.2035 and $0.2165 over the past 24 hours, opening at $0.2056 on 2025-11-01 12:00 ET and closing at $0.2041 on 2025-11-02 12:00 ET. The total volume was 1,522,448.5 ZBT, while notional turnover amounted to $320,060. Price action was bearish overall, with a lack of follow-through from early morning rallies.

Structure & Formations

ZBTUSDC showed bearish engulfing patterns in the first hour of the session, particularly around 12:00 ET, as the price moved from $0.2056 to $0.2120, then reversed sharply. A key support level emerged at $0.2035, which coincided with multiple rejections. A bearish continuation pattern appears likely if the price breaks below this level, with the next target at $0.2010. A doji formed at $0.2063 around 19:30 ET, signaling indecision, while volume confirmed the bearish bias.

Moving Averages

On the 15-minute chart, the 20-period SMA currently resides at $0.2065 and the 50-period SMA is at $0.2071. The price is trading below both, indicating bearish momentum. The 50/100/200 daily moving averages are trending lower, suggesting the broader trend remains bearish.

MACD & RSI

The MACD crossed below the signal line in the late morning hours, confirming a shift in momentum. RSI dropped from overbought territory ($70) early in the session to ~34 by 06:00 ET, indicating oversold conditions. While a short-term bounce may be possible, RSI remains within the bearish zone unless it recovers above 40.

Bollinger Bands

ZBTUSDC has been range-bound within the Bollinger Bands for most of the session, with a narrowing of the bands observed in the late-night hours. The price has not broken above the upper band but has tested the lower band multiple times, especially around 02:00 and 04:00 ET. A sustained close below the lower band would likely confirm a breakdown.

Volume & Turnover

Volume spiked in the early morning hours with the $0.2070–$0.2125 rally, but failed to follow through. The largest single 15-minute volume was 320,527.7 ZBT at 00:15 ET, with a close of $0.2113. However, volume tailed off significantly after 04:00 ET, indicating fading interest. A divergence between price and volume was noted in the final hours, suggesting potential exhaustion in the bearish move.

Fibonacci Retracements

Applying Fibonacci retracement levels to the swing high of $0.2165 and swing low of $0.2035, key levels include 61.8% at $0.2089 and 38.2% at $0.2118. The price has tested the 61.8% level multiple times without confirmation, suggesting it may be a short-term resistance. A breakdown below the 38.2% level could signal a retest of the 23.6% retracement at $0.2145.

Backtest Hypothesis

Given the bearish engulfing patterns and exhaustion seen in the late hours, a backtesting strategy could be based on detecting such patterns and entering short positions for a three-day hold. This aligns with the bearish momentum observed in RSI and MACD. Integrating this into a broader systematic approach for ZBTUSDC and similar low-cap pairs may yield insights into its behavior under similar setups. The strategy would benefit from filtering out false signals using volume confirmation and Fibonacci support levels.