Market Overview for Boundless/USDC (ZKCUSDC) – 24-Hour Technical Summary

• Price dropped sharply after 17:00 ET but rebounded with increased buying pressure after 20:00 ET.
• Volatility spiked in the last 6 hours, with a 1.06% range in 15-minute candles.
• Total volume surged above 500,000 in the first 15 minutes of the new day, suggesting possible institutional activity.
• RSI remains in neutral territory, indicating no clear overbought or oversold conditions.
• Bollinger Bands show a recent expansion, reflecting heightened price swings in the past 4 hours.

Boundless/USDC (ZKCUSDC) opened at $0.2185 on 2025-10-31 12:00 ET and closed at $0.2220 on 2025-11-01 12:00 ET. The pair reached a high of $0.2289 and a low of $0.2127, with a total traded volume of 996,677.6 units and a turnover of $223,999.9.

The 15-minute candles revealed a bearish breakdown in early evening hours before a late-night rally. A key support was identified near $0.2127–$0.2132, which held through a test in the early hours. Resistance appears to be forming at $0.2230–$0.2240, where the price has shown hesitation in the last two 15-minute periods. A bullish engulfing pattern was observed at $0.2228–$0.2230, suggesting potential for a short-term reversal.

Moving averages on the 15-minute chart show the price has moved above both the 20 and 50 SMA in the last hour, indicating a shift in short-term momentum. On the daily chart, the 50 and 100 SMA are converging, with the price hovering near the 50 SMA at $0.2225, suggesting a possible consolidation phase.

The RSI (14) moved from neutral to mildly bullish in the last 45 minutes, hovering around 54, while the MACD turned positive and crossed above the signal line, signaling potential for a continuation of the recent upward thrust. Bollinger Bands expanded significantly after the late-night rally, with the price closing near the upper band, indicating growing volatility and buying pressure. The upper band sits at $0.2247, with the midline at $0.2220 and the lower band at $0.2193.

Fibonacci retracement levels from the recent $0.2127–$0.2289 swing indicate key levels at 38.2% ($0.2217), 61.8% ($0.2253), and the full swing at $0.2289. Price appears to be finding support at the 38.2% level before testing the 61.8% level in the next few hours. This suggests that a breakout above $0.2253 could signal the start of a new uptrend.

Backtest Hypothesis
The observed bullish engulfing pattern at $0.2228–$0.2230 and the recent positive divergence in MACD and RSI present a compelling case for a backtest. However, due to a data-source error, the full “Bullish Engulfing” signal list for ZKCUSDC could not be retrieved. To proceed with a robust backtest, it is critical to confirm the exact trading venue and symbol (e.g., ZKC-USDC on Binance or Gate). Once confirmed, we can align historical patterns with the provided OHLCV data to evaluate the effectiveness of a long-bias strategy based on this pattern.