Boundless/USDC (ZKCUSDC) Market Overview: Volatile 24-Hour Move and Volume Divergence

• Price fluctuated within a 0.2011–0.2109 range, ending near 0.2031.• Volume spiked at 184,804.3 in the early hours, correlating with a 0.2088 high.• Momentum appears mixed, with RSI and MACD suggesting potential consolidation.

The Boundless/USDC pair (ZKCUSDC) opened at 0.2027 on 2025-11-09 at 12:00 ET, reached a high of 0.2109, and closed at 0.2031 on 2025-11-10 at 12:00 ET, within a 24-hour window. Total volume was 976,233.0, while notional turnover amounted to approximately USD 198,613.7 (assuming USDC = USD). The price action reflects a volatile 15-minute timeframe, with multiple swing highs and support levels becoming visible during the session.

The structure of the 24-hour candlestick data reveals several key levels. A potential support zone emerged near 0.2025–0.2028, where the price consolidated for multiple periods. Resistance appears clustered between 0.205–0.2059, as seen in a failed breakout attempt in the early hours. A notable pattern is a bullish engulfing candle at 0.2035–0.2044 followed by a bearish rejection to 0.2031, suggesting mixed sentiment. A doji formed at 0.2045–0.2045, signaling indecision.

On the 15-minute chart, the 20-period and 50-period moving averages (20SMA and 50SMA) show the price has been oscillating around the 50SMA, indicating a potential shift in trend from bearish to neutral. The 20SMA crossed above the 50SMA once, suggesting a potential short-term bullish bias, though it was not sustained. On the daily timeframe, the 50DMA, 100DMA, and 200DMA are not clearly visible due to the limited time frame, but the 50DMA may currently be near 0.205, based on the 15-minute data.

The MACD line and signal line crossed over multiple times, indicating rapid momentum shifts. A positive MACD crossover occurred at 02:45 ET, followed by a quick bearish cross. RSI(14) oscillated between 25–75, showing that the pair did not enter strong overbought or oversold conditions. However, a brief oversold dip to around 28 at 06:45 ET may have triggered a short rebound. Momentum appears to be stabilizing in the latter half of the 24-hour period.

Bollinger Bands show moderate volatility, with the upper band at ~0.208–0.209 and the lower band near 0.202–0.203. The price frequently tested the upper and lower boundaries but did not break out decisively. A contraction in band width occurred between 03:45 ET and 04:15 ET, which may precede a breakout. The price closed near the middle band, suggesting neutral positioning for the next 24 hours.

Volume spiked significantly during the 00:15 ET candle (184,804.3), correlating with a sharp price rise to 0.2088. Subsequent volume decreased despite continued price action, indicating a possible divergence. Notional turnover followed a similar pattern, with high turnover at the peak and lower turnover as the price corrected. This divergence may hint at a temporary speculative move.

Fibonacci retracements applied to the key swing low (0.2011) and swing high (0.2109) suggest that the 0.2031 closing price is near the 61.8% retracement level. This suggests that the pair may face near-term resistance if it attempts to retest this level. A break above 0.2054 (38.2% retracement) could trigger further buying interest.

The next 24 hours could see continued consolidation around the 0.2031–0.2046 range, with potential for a breakout or breakdown if key support or resistance levels are tested. Traders may watch for confirmation at 0.2025 and 0.2054, with volatility likely to remain moderate unless a major news event or market shock occurs.

For a backtest strategy, the RSI(14) may serve as a useful momentum filter, particularly for identifying entry and exit points around 30 and 70 levels. Given the observed price action, the RSI(14) has shown brief oversold and overbought conditions, but not for sustained periods. This suggests the strategy could generate frequent signals but may require filtering with additional indicators or volume filters to avoid whipsaws. The recent doji and volume divergences could be used to refine entry and exit timing, potentially reducing false signals.