Catizen/USDC Market Overview: A Volatile 24-Hour Move with Clear Support Levels

• Catizen/USDC declined by -2.18% over 24 hours, with bearish momentum intensifying after 19:30 ET.
• A sharp drop from 0.0828 to 0.0789 was seen, with volume peaking at 35,806.8 near the swing low.
• Bollinger Band contraction suggests low volatility, but recent price rejections near 0.0803/0.0808 may form key levels.
• RSI reached oversold territory (28–30), but divergence with price action suggests potential for further consolidation.
• Turnover spiked during 21:15–21:45 ET as price dropped to 0.0789, indicating significant accumulation or profit-taking.

The Catizen/USDC pair opened at 0.0819 on October 29 at 12:00 ET and reached a high of 0.0833 before closing at 0.0846 at 12:00 ET, after a 24-hour low of 0.0789. Total volume traded over the period was 586,097.7, with notional turnover amounting to 47,242.80 USDC, reflecting strong participation during key price moves.

Over the 24-hour period, the market exhibited a bearish bias early in the session, particularly from 19:30 ET onward, as the price broke below the 0.0828 level and tested support at 0.0801 and 0.0789. A large bearish candle formed at 21:15 ET (0.0803–0.0789) with high volume (35,806.8), signaling significant distribution or stop-loss activity. This was followed by a short-term rebound toward 0.0795 and 0.0803, but the momentum remained weak, with RSI dipping into oversold territory.

Key support levels appear to be consolidating around 0.0801–0.0803, as the price has bounced from this zone twice in the last 6 hours. The 0.0808 level also acted as a minor resistance during the recovery phase. Bollinger Bands have been contracting since 0.0831, indicating a potential for a breakout or breakdown in the near term. The 20-period moving average is currently around 0.0820, while the 50-period sits slightly below 0.0825, suggesting the short-term trend is bearish.

The price found temporary resistance at 0.0811–0.0813 after 06:00 ET, but failed to hold above 0.0813 for more than a few candles. This suggests the 0.0813–0.0816 range is a critical area for potential buyers to defend against further bearish moves. On the 15-minute chart, the price appears to be forming a base in the 0.0835–0.0843 range, with Fibonacci retracement levels indicating potential bounce zones at 0.0839 (61.8%) and 0.0842 (78.6%). A break below 0.0832 could test earlier support areas.

The MACD histogram has been negative since the bearish break at 0.0828, and the RSI remains below 40, indicating weak momentum. While the price may find support near 0.0803, a failure to hold above 0.0801 could signal further downside. Investors should watch for a potential short-term rebound in the 0.0832–0.0843 range, with key resistance at 0.0846 and 0.0850. However, bearish continuation remains possible if volume fails to confirm a breakout.

Backtest Hypothesis

To refine the event-based backtesting strategy, it would be necessary to either validate the correct ticker symbol (“CATIUSDC” or a variant such as “CATI/USDC” or “CATI-USDC”) used by the data vendor or provide a manually curated list of Doji-Star pattern occurrences between 2022-01-01 and 2025-10-29. Once this data is confirmed, the backtest could assess the historical success rate of entering trades immediately after the formation of a Doji-Star at key support/resistance levels identified here, such as 0.0803 and 0.0813. This would allow for a data-driven evaluation of whether such patterns correlate with potential reversals or consolidations in this pair.