Market Overview for Boundless/USDC (ZKCUSDC) - 2025-11-07

Summary• ZKCUSDC opened at $0.1964, peaked at $0.2015, and closed at $0.1946.• Total 24-hour volume was 1,035,203.9, with turnover of $199,594.88.• Price fluctuated between $0.1924 and $0.2015, with mixed momentum signals.

Opening Narrative

Boundless/USDC (ZKCUSDC) opened at $0.1964 on 2025-11-06 12:00 ET and reached a high of $0.2015 before closing at $0.1946 at 12:00 ET on 2025-11-07. The 24-hour session saw a total volume of 1,035,203.9 and a turnover of $199,594.88, indicating moderate liquidity and volatility.

Structure & Formations

Price action on ZKCUSDC displayed multiple reversals and consolidations, with key support levels at $0.1930–$0.1938 and resistance near $0.1975–$0.2012. A bearish engulfing pattern was visible in early trading hours, followed by a failed bullish attempt in the late morning. The session ended with a bearish candle, suggesting pressure near $0.1946 could persist.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed at $0.1965 and $0.1958 respectively, indicating a potential short-term bearish bias. On the daily chart, the 50-period moving average currently sits above the 100- and 200-period lines, but the price is trading below the 50-period line, signaling medium-term weakness.

MACD & RSI

MACD showed a bearish crossover in early morning trading, with the histogram contracting slightly as the price stabilized. RSI dipped below 50 after the initial bearish thrust, reaching 46 by the end of the session—moderately bearish. There were no overbought or oversold signals, though RSI flattened in the mid-40s, indicating potential for further correction.

Bollinger Bands

Price action spent much of the session within the Bollinger Bands, with a brief move to the upper band in early trading followed by a pullback to the middle. Volatility appeared to contract in the late evening before expanding again in the early morning. The current price is near the lower band, suggesting potential for a bounce in the near term.

Volume & Turnover

Volume and turnover were highest during the late night to early morning hours (00:00–03:00 ET), coinciding with a sharp pullback from $0.1980 to $0.1930. A divergence between price and volume was observed in the late morning—price fell while volume remained subdued—suggesting possible exhaustion in the downward move.

Fibonacci Retracements

On the 15-minute chart, key Fibonacci levels were identified from the swing high at $0.1980 to the low at $0.1930. The 38.2% level at $0.1956 and 61.8% at $0.1965 acted as minor support during the session. On the daily chart, the 61.8% retracement level is around $0.1975, which may now serve as a near-term resistance.

Backtest Hypothesis

The backtesting strategy described aims to identify and trade on Bullish and Bearish Engulfing patterns using OHLCV data. However, the dataset provided does not appear to be resolvable by the system, as the symbol "ZKCUSDC" is not recognized by the data provider. This could be due to a mismatch in naming convention (e.g., "ZKC-USDC" or "ZKC/USDC"), limited coverage of the pair, or the need for a DeFi price feed. For the system to run a meaningful backtest, it requires: 1) the exact trading venue (e.g., Binance, KuCoin, Uniswap); 2) the precise symbol format used on that venue; or 3) a custom OHLCV feed in CSV or JSON format. Once the correct data is available, the backtest can be executed using the specified parameters.