Renzo/USDC (REZUSDC) Market Overview

Summary
• Price declined from 0.00804 to 0.00769 amid bearish momentum.
• High volume observed in early trading, followed by consolidation.
• RSI and MACD indicate weakening bullish momentum and bearish bias.

Price Action and Key Levels

Renzo/USDC (REZUSDC) opened at 0.00800 on 2025-11-11 at 12:00 ET, reached a high of 0.00804, and closed at 0.00769 on 2025-11-12 at 12:00 ET after hitting a low of 0.00751. The 24-hour period saw a bearish trend, with price falling below key support levels including 0.00770 and 0.00765. Notable bearish patterns like a long lower shadow and bearish engulfing forms were visible during the initial hours. These formations may signal a shift in sentiment toward a bearish bias.

Moving Averages and Volatility

On the 15-minute chart, the 20-period and 50-period moving averages crossed lower, reinforcing the bearish momentum. The 50-period MA is currently sitting above the 20-period MA, forming a death cross pattern. Bollinger Bands show a slight expansion as volatility increased during the session, with the price consistently testing the lower band, suggesting oversold conditions.

Momentum and Relative Strength

The 14-period RSI declined into the oversold territory (below 30) by the end of the session, indicating potential for a short-term bounce or consolidation. The MACD line crossed below the signal line early in the session, reinforcing bearish momentum. A negative histogram has persisted, suggesting continued selling pressure.

Volume and Turnover

Trading volume spiked in the early hours, particularly around the 17:45 ET and 19:15 ET candles, which saw volumes of 405,126.3 and 335,981.0 respectively. This suggests heightened activity and bearish conviction. Total 24-hour volume reached 6,985,037.8 with a turnover of approximately $53,719.85, showing strong notional turnover despite the price drop. Divergences in price and volume were not significant, and both metrics aligned with the bearish trend.

Fibonacci Retracements

Fibonacci retracements drawn from the swing high at 0.00804 and low at 0.00751 indicate key levels for potential reversals. The 61.8% level at 0.00779 appears as a critical support. Price has already broken this level, suggesting further support to watch is the 38.2% level at 0.00773. These levels could offer potential entry or exit points for traders seeking confirmation of trend continuation or reversal.

Backtest Hypothesis

To evaluate potential profitability for a Bearish Engulfing pattern strategy, confirmation is needed on the exact ticker symbol and trading platform. Assuming “REZUSDC” is correct and listed on a major exchange, we can apply standard exit logic such as a 10-day holding period, 10% take-profit, and 8% stop-loss. Once this is confirmed, the backtest can be refined and run from 2022-01-01 to today to assess its viability.