Boundless/USDC Market Overview: 24-Hour Analysis (2025-11-11)

Generated by AI AgentTradeCipherReviewed byAInvest News Editorial Team
Tuesday, Nov 11, 2025 6:07 am ET2min read
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- ZKCUSDC traded in a tight $0.1922–$0.2038 range, with a 15-minute bearish engulfing pattern signaling potential short-term reversal.

- RSI14 neared oversold levels (28) while MACD remained bearish, and volume spiked to $66,000 at 08:00 ET amid weak price movement.

- Key Fibonacci support at $0.1986 was tested before a drop, with 61.8% level failing to hold, reinforcing bearish bias below $0.2000 resistance.

- Backtest strategies targeting RSI<30 and bearish patterns suggest potential short trades if price breaks below $0.1922 support with 10% stop-loss parameters.

Summary
• Boundless/USDC (ZKCUSDC) traded in a tight range, with a 15-minute bearish engulfing pattern signaling potential short-term reversal.
• Volume surged in the final hours, but price remained within Bollinger Band midpoints, suggesting low volatility.
• RSI14 bottomed near oversold levels, while MACD remained bearish, indicating a possible bounce but no strong upside momentum.

ZKCUSDC traded between $0.1952 and $0.2038 over the last 24 hours, closing at $0.1922 as of 12:00 ET. The total volume was 1,129,408.9, and the notional turnover reached $217,400. The 24-hour move appeared range-bound, with a late-day pullback from a morning high of $0.2028.

Structure & Formations
Key support levels were identified at $0.1922 and $0.1901, with a notable bearish engulfing pattern observed on 2025-11-11 00:15 ET. Resistance appears to reside at $0.2001 and $0.2028, based on prior highs. A doji on 2025-11-11 02:00 ET indicated indecision during the consolidation phase.

Moving Averages
On the 15-minute chart, the price has remained below the 20-EMA, suggesting continued bearish momentum. The 50-EMA reinforced this trend, dipping below the 20-EMA late in the session. Daily MAs show a more neutral stance, with the 50-day sitting near $0.1970 and the 200-day near $0.1980—both indicating potential resistance ahead of $0.2000.

MACD & RSI
The MACD crossed bearishly into negative territory and remained below the signal line, pointing to continued downward momentum. RSI14 bottomed near 29 at 06:45 ET but has shown limited rebound, currently at 28—hinting at potential oversold conditions without a strong reversal.

Bollinger Bands
Volatility expanded briefly during the morning session, with a high of $0.2038 breaching the upper band. However, the price quickly retracted, settling within the bands. The midline of the Bollinger Bands has acted as a ceiling since 22:00 ET, reinforcing the bearish tone.

Volume & Turnover
Trading volume surged in the final hours of the 24-hour period, peaking with over $66,000 in notional turnover at 08:00 ET on the descent to $0.1926. This suggests increased selling pressure despite a lack of corresponding price movement, hinting at order book exhaustion at the lower end. Price and volume moved in line, confirming the bearish sentiment.

Fibonacci Retracements
Fibonacci levels drawn from the 24-hour swing (0.1952–0.2038) indicated critical support at 61.8% ($0.1986) and resistance at 38.2% ($0.2007). The price tested the 61.8% level in the morning before dropping, suggesting weak conviction to hold that level.

Backtest Hypothesis
The backtest strategy relies on bearish engulfing patterns and RSI14 < 30 for entry, with 10% stop-loss and 30% take-profit as risk controls. Over the last 3.5 years, this signal-based strategy appears to capitalize on short-term bearish reversals. The current 15-minute bearish engulfing at 00:15 ET aligns with the entry logic, suggesting a potential short trade. Given the recent oversold RSI and consolidation near key Fibonacci support, the setup appears to meet the criteria for activation, especially if the price breaks below $0.1922.