Renzo/USDC Market Overview: Strong Bullish Momentum and Key Resistance Levels

• REZUSDC surged by 5.8% on heavy volume, closing near its 24-hour high.
• Strong bullish momentum confirmed by RSI and MACD divergence with price.
• Volatility expanded as price moved above the upper Bollinger Band late morning.
• Notable volume spikes occurred during key breakouts post 8:30 PM ET.
• Fibonacci retracement levels suggest potential pullback targets at 0.01231 and 0.01246.

The Renzo/USDC pair, trading under the ticker REZUSDC, opened at 0.01179 on 2025-09-12 at 12:00 ET and closed at 0.01261 at 12:00 ET on 2025-09-13. The 24-hour range extended from a low of 0.01179 to a high of 0.0127, with total volume amounting to 10,361,504.2 and total turnover (notional value) of approximately $131,079,134.3 (calculated as volume × average price).

The price action exhibited a strong bullish trend throughout the day, driven by key breakout levels and consistent volume support. The most notable formation occurred around 9:15 AM ET, where price surged past a prior high of 0.01254 with a candle showing a bullish engulfing pattern. This was followed by a confirmation candle at 9:30 AM ET, which closed at 0.01264, sealing a breakout above a prior resistance cluster around 0.01255. A doji formed briefly in the early afternoon but failed to trigger a reversal, as buyers re-entered the market around 2:30 PM ET.

The RSI reached overbought territory around 10:15 AM ET (RSI > 60), while the MACD line crossed above the signal line and remained positive, indicating strong bullish momentum. The Bollinger Bands expanded as the price moved above the upper band for a short period between 9:15 AM and 10:30 AM ET, a sign of high volatility and conviction in the bullish move. Volume increased significantly during the breakout and remained above the 20-period average for most of the day, confirming the strength of the move.

The key support levels identified on the 15-minute chart include 0.01243 (38.2% Fib from the recent high), 0.01227 (61.8% Fib), and 0.01210 (major daily low). Resistance levels are at 0.01265, 0.01273 (extension level), and 0.01280. On the daily chart, the 50-period moving average at 0.01219 and 200-period at 0.01204 were both decisively breached, signaling a potential continuation of the uptrend.

The backtest hypothesis leverages key price structures and volume confirmation for entry and exit timing. A possible strategy involves entering on a bullish engulfing pattern formation with volume above the 20-period moving average. A stop-loss could be placed below the nearest Fibonacci support (0.01243), and a take-profit at the 38.2% extension of the current rally. This approach would aim to capture continuation moves in a trending market with strong volume support.