Market Overview for Animecoin/USDC on 2025-10-09

• Animecoin/USDC traded lower by 4.3% in 24 hours, closing near a key support level.
• Volatility spiked mid-day before stabilizing with reduced turnover.
• RSI hit overbought levels mid-session but now approaches oversold territory.
• A large-volume bearish engulfing pattern formed at the 17:30 ET peak.
• Price tested lower Bollinger Band limits late evening, suggesting weak momentum.

Animecoin/USDC (ANIMEUSDC) opened at $0.01419 on 2025-10-08 at 12:00 ET and closed at $0.01388 on 2025-10-09 at the same time. During the 24-hour window, the pair reached a high of $0.01469 and a low of $0.01361. Total notional volume was $1.82M on a turnover of ~980k USDC.

The 24-hour chart shows a bearish trend with price breaking below key support at $0.01414 and forming a bearish engulfing pattern at the peak of $0.01469 on October 8th. Price has since tested lower levels, with late-hour consolidation near $0.01388–$0.01389. The 20-period EMA sits below the 50-period line, confirming a downtrend. Fibonacci retracement levels from the key high to low suggest potential support at 0.01393 (38.2%) and 0.01369 (61.8%), both of which were tested over the 24-hour period.

RSI dropped from 84 (overbought) to 32 (oversold), indicating exhausted bearish momentum. MACD remains negative, with the histogram shrinking as price consolidates. Volatility, as measured by Bollinger Bands, expanded mid-day and has since contracted, with price lingering near the lower band in the final hours. Volume spiked sharply near the high at $0.01469 but has since faded, suggesting waning selling pressure.

Price appears to be in a consolidation phase following a sharp selloff, with key support levels potentially holding. A retest of $0.01369 could trigger a bearish continuation, while a close above $0.01395 may indicate a short-term bounce. Investors should monitor volume for confirmation of either move. A prolonged consolidation near the lower Bollinger Band could lead to further oversold conditions, but without a reversal in the broader trend, bearish bias remains intact.

Backtest Hypothesis

The backtest strategy involves identifying bearish engulfing patterns and Fibonacci retracement levels as entry points. In this 24-hour period, a bearish engulfing pattern formed at $0.01469, followed by a retest of the 61.8% Fibonacci level at $0.01369. A backtest could evaluate a sell signal placed at the close of the engulfing pattern candle, with a stop loss above the high of $0.01469 and a take profit at the 61.8% retracement. Given the volume divergence and RSI divergence observed, this pattern shows potential for a trend-following short trade. The strategy's success would depend on the strength of support at $0.01369 and the sustainability of bearish momentum.