Summary
• Price formed a bearish reversal pattern near $0.00137 with rejection above key resistance.
• Volume surged during the 18:45–19:15 ET window, coinciding with a 0.06% price drop.
• RSI moved into oversold territory during early overnight hours, suggesting potential bounce.
• Bollinger Bands expanded during the sell-off, indicating heightened volatility.
• Turnover confirmed price declines in late afternoon but diverged during recovery attempts.
A2ZUSDT opened at $0.001368 at 12:00 ET–1 and traded between $0.001347 and $0.001374, closing at $0.001373 by 12:00 ET. Total volume reached 58.2 million, with turnover amounting to $79,907. The pair showed a late afternoon sell-off followed by overnight consolidation.
Structure & Formations
Price tested $0.001374 as resistance but failed to break through, resulting in a rejection bearish pattern. A doji formed near $0.001373 at 19:45 ET, indicating indecision. Support at $0.001362 held during early morning hours, showing initial strength.
Moving Averages
On the 5-minute chart, the 20-EMA and 50-EMA crossed near $0.001366–0.001367, forming a potential support cluster. The 200-day MA (not calculated here) would likely be below the current price, suggesting a short-term bull bias against the longer-term trend.
MACD & RSI
MACD remained bearish during the 18:45–19:15 ET sell-off, confirming the bearish momentum. RSI dipped into oversold territory (below 30) overnight, hinting at a potential bounce. However, the RSI failed to confirm a strong reversal above 50.
Bollinger Bands
Bollinger Bands widened during the afternoon sell-off, reflecting increased volatility. Price briefly tested the lower band before recovering, suggesting short-term mean reversion.
Volume & Turnover
Volume spiked during the 18:45–19:15 ET sell-off, reaching over 5 million, coinciding with a sharp decline. However, turnover failed to confirm the drop, showing weaker bearish conviction.
Fibonacci Retracements
The 61.8% retracement level of the 18:00–19:45 ET swing was at $0.001371, which held during overnight consolidation. A retest of the 38.2% level at $0.001374 may signal a resumption of the bearish bias.
Market participants may watch for a break of $0.001362 as support and $0.001374 as resistance in the next 24 hours. Volatility remains elevated, and traders should be cautious of sharp intraday swings.
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