0G/USDC Market Overview for 2025-11-05

Summary
• Price opened at 1.146 and closed at 1.106 after a volatile 24-hour swing with a high of 1.257 and low of 1.085.
• Volume spiked to 148,630.87 at 00:15 ET as price hit a 24-hour high, followed by a bearish reversal.
• RSI entered oversold territory late morning, hinting at potential short-term buying pressure.

At 12:00 ET on 2025-11-05, 0G/USDC (0GUSDC) opened at 1.146, peaked at 1.257, dipped to 1.085, and closed at 1.106. Total notional volume over 24 hours was 847,607.95 with 445 trades. The pair displayed a bearish breakdown from a key resistance at 1.16, confirmed by a bearish engulfing pattern at 00:15 ET after a strong bullish reversal earlier in the 48-hour window.

Structure & Formations
The 15-minute chart showed a strong bearish reversal from 1.257 following a bullish 5-hour advance. Key support levels emerged at 1.143 and 1.118, with the latter holding firm during a bearish thrust at 06:30 ET. A morning doji at 04:15 ET highlighted indecision after a sharp decline from 1.171.

Moving Averages
The 20-period EMA (15-min) crossed bearish below the 50-period EMA at 04:15 ET, indicating a shift in short-term sentiment. Daily EMA at 50-period confirmed a bearish bias from the 200-period, aligning with the intraday breakdown from key resistance.

MACD & RSI
MACD turned negative after 02:00 ET and diverged with a price rally, signaling a potential bearish continuation. RSI hit 30 at 06:15 ET before bouncing, suggesting short-term oversold conditions may attract buyers.

Bollinger Bands
Volatility expanded to a 15-minute width of 0.081 (2.06) at 00:15 ET during the breakout, with price closing near the lower band by 09:45 ET. A contraction phase began after 04:15 ET, suggesting a potential consolidation ahead.

Volume & Turnover
Volume surged at 00:15 ET (148,630.87) following the 1.257 high, but failed to confirm a breakout. A divergence between declining price and moderate volume at 06:15 ET indicated weakening bearish momentum.

Fibonacci Retracements
From the 1.085–1.257 swing, the 1.144 (38.2%) level held as a support, with price failing to retest 1.160 (61.8%). A 61.8% retracement at 1.160 may act as a key resistance if the pair rebounds.

Backtest Hypothesis
Using the provided dataset, a backtesting strategy could be tested using the ticker 0GUSDC, assuming it is the exact symbol in the data source. A short-to-open signal is triggered when RSI falls below 30, with an automatic close after 3 calendar days. This approach would align with the observed bearish momentum and oversold conditions seen in the 24-hour period. The RSI and price data from this 24-hour timeframe support the strategy's viability, particularly during the late morning 06:15 ET oversold reading.