Market Overview for Renzo/USDC (REZUSDC)

• Renzo/USDC traded lower by -0.64% over 24 hours, closing at $0.00877.
• Key support was tested around $0.00863–0.00869, while resistance formed near $0.0088–0.00885.
• Volatility expanded midday after a consolidation phase overnight.
• A bearish engulfing pattern emerged around 04:45 ET, confirming downward momentum.
• Volume spiked near the session’s high before a broad distribution phase began.

Renzo/USDC (REZUSDC) opened at $0.00872 on 2025-11-01 12:00 ET and reached a high of $0.00905 before retreating to a low of $0.00846 by the close at $0.00877. The 24-hour total volume was 11,145,300.5, and the notional turnover amounted to $97,893.24. A bearish reversal began midday, with a strong distribution phase evident from 06:15 to 09:45 ET.

Structure & Formations

The price structure displayed a clear bearish bias following a consolidation phase between $0.0087 and $0.00885. A bearish engulfing candle formed at $0.00881–0.00882 on 04:45 ET, signaling a reversal after a brief rally. The price then broke down through key support at $0.0087, followed by a strong test of the $0.00863–0.00869 zone. This support level is critical and may hold for a potential rebound. A doji formed near $0.00846, indicating indecision and a possible short-term bottom.

Moving Averages and Momentum

The 20-period and 50-period moving averages on the 15-minute chart crossed bearishly, confirming a downtrend. The 50-period MA remains above the 100-period MA, suggesting medium-term bearish momentum. On the daily chart, the 50-period MA appears to be testing the 200-period MA, potentially forming a key inflection point. The MACD line crossed below the signal line early in the session, and both lines remained in negative territory, supporting a continuation of the decline.

Relative Strength Index and Bollinger Bands

RSI fell below 30 on 05:00 ET, entering oversold territory briefly before rebounding. However, the failure to hold above 40 suggests ongoing weakness. Bollinger Bands expanded midday, reflecting increased volatility during the distribution phase. Price traded below the 20-period lower band for much of the session, signaling bearish exhaustion. A contraction in band width occurred during the overnight hours, possibly indicating a period of consolidation before the breakout.

Volume and Turnover Analysis

Volume spiked significantly during the distribution phase from 06:15 to 09:45 ET, coinciding with the price’s drop from $0.0089 to $0.00877. This suggests strong seller pressure during that period. Turnover also spiked near the high of $0.00905, indicating a concentrated distribution event. A divergence between volume and price is visible as the price declined further with diminishing volume, suggesting that the bearish move may be losing momentum.

Fibonacci Retracements

Fibonacci levels drawn from the recent swing high at $0.00905 to the low at $0.00846 show the current price near the 61.8% retracement level at $0.00875. This area could offer immediate support or resistance depending on the strength of the next move. On the 15-minute chart, a 38.2% retracement at $0.00885 is now acting as a key short-term resistance.

Backtest Hypothesis

Given the inability to retrieve RSI-14 data for REZUSDC, the backtest cannot proceed as outlined. However, the observed RSI behavior suggests a standard 14-period RSI could be used to test a potential short-selling strategy on readings below 30, with a 3-day holding period and a target above 40. If the ticker or exchange is clarified, the strategy can be implemented effectively using the provided price data, including the key 15-minute candles and volume metrics.