Renzo/USDC Market Overview

• Price rose from $0.0138 to $0.01418 amid uneven momentum and growing volume.
• Strong 15-minute bullish engulfing and hammer patterns appeared after the $0.01403 pivot.
• Volume surged above 10M as price tested $0.0145 and $0.0142 levels.
• RSI and MACD diverged mid-session, hinting at possible exhaustion in the upmove.
• Bollinger Bands widened as price pushed through resistance, signaling elevated volatility.

Renzo/USDC (REZUSDC) opened at $0.0138, reached a 24-hour high of $0.01523, and closed at $0.01418 as of 12:00 ET on 2025-10-09. Total volume for the period was 65,659,450.0, with a notional turnover of $941,490.25. Price action showed a broad-range consolidation with a sharp afternoon rally and evening pullback.

The 15-minute chart displayed a bullish bias from $0.01403 onward, with a key bullish engulfing pattern emerging at $0.01418 and a hammer formation near $0.01428. Key support levels are seen around $0.01395–$0.01403, with resistance at $0.0143–$0.0145. These levels appear to have acted as psychological barriers and could serve as re-entry points for short-term traders.

MACD crossed into bullish territory around $0.0142, while RSI moved into overbought territory above 65, suggesting short-term momentum may be flagging. Bollinger Bands expanded as price tested the upper band in the late afternoon, indicating rising volatility. However, the divergence between price and RSI raises caution that the rally could face a short-term pause or reversal.

Moving averages on the 15-minute chart show the 20-period MA crossing above the 50-period MA at $0.01408, reinforcing bullish momentum. However, the daily chart’s 50- and 200-period MAs remain in a bearish alignment, suggesting the longer-term trend is still uncertain.

Fibonacci retracements applied to the $0.0138–$0.01523 swing identified potential support at $0.01463 (38.2%) and $0.0143 (61.8%). Price tested the 61.8% level during the late afternoon sell-off, hinting that a bounce may be more likely than a breakdown.

Backtest Hypothesis
The proposed strategy involves a 15-minute breakout system using the 20-period MA as an entry filter and 61.8% Fibonacci as a target. Long entries are triggered when price closes above the 20-period MA with a bullish engulfing pattern. Stops are placed below key support at $0.01403. Given today’s price action and volume profile, this setup could offer a high-probability trade if confirmed by a break above $0.01425.