Market Overview for SuperVerse/Bitcoin (SUPERBTC) – 24-Hour Summary

• Price traded in a tight range with a key breakout attempt in early evening ET
• RSI indicated oversold conditions toward the 24-hour close
• Volume was highest during the 20:30–21:00 ET window with a sharp price reaction
• Bollinger Bands showed a mild expansion post-20:00 ET
• A bullish engulfing pattern formed in late night ET, followed by a consolidation

Price Overview and Key Metrics

SuperVerse/Bitcoin (SUPERBTC) opened at 5.13e-06 (12:00 ET - 1), touched a high of 5.19e-06 and a low of 5.08e-06, and closed at 5.15e-06 at 12:00 ET. Total volume over the 24-hour period was 38,817.0, with a notional turnover of 196.41 USD.

Structure & Formations

The price action showed a relatively tight range for most of the day, punctuated by a clear breakout attempt in the early evening ET session (20:00–21:00 ET). A bearish rejection followed, suggesting buyers failed to sustain the move. A key bullish engulfing pattern formed near 05:30 ET, indicating renewed short-term buying pressure. A doji appeared at the 05:45 ET candle, hinting at indecision in the market. Notable support levels formed around 5.15e-06 and 5.13e-06, while key resistance appeared near 5.17e-06 and 5.19e-06.

Moving Averages

Using a 20 and 50-period moving average on the 15-min chart, the price crossed above the 50-period line at 05:30 ET and remained above it for the remainder of the day, indicating short-term bullish momentum. The 20-period line acted as a dynamic support in the late night and early morning ET. On a daily basis, the 50-period MA held just above 5.13e-06, while the 200-period MA sat slightly lower at 5.10e-06, suggesting the asset is currently above its longer-term average, but not by a large margin.

MACD & RSI

The MACD crossed into positive territory after 05:30 ET and remained above the signal line for the next several hours, reflecting strong momentum. RSI dipped into oversold territory near 5.15e-06 at the 01:45 ET candle, suggesting a potential rebound. The indicator later crossed above 50 after 05:30 ET, confirming the bullish breakout. However, RSI failed to close above 60, indicating buyers may be cautious.

Bollinger Bands

Bollinger Bands showed a modest contraction during the early morning hours and then expanded after 20:00 ET. During the 20:00–21:00 ET window, price tested the upper band and pulled back sharply, suggesting the upper resistance was effective. The bands tightened again in the late night, indicating a period of consolidation. Price remained within the band range for most of the session, suggesting the market was not in a strong trending phase.

Volume & Turnover

Volume spiked during the 20:00–21:00 ET window with a large candle and over 1,000 trades, but price failed to hold the breakout, raising questions about sustainability. The highest notional turnover occurred during the same period, confirming that the spike in volume was driven by larger trade sizes. A divergence occurred after 01:45 ET, with price falling despite a moderate increase in volume, hinting at bearish exhaustion.

Fibonacci Retracements

Applying Fibonacci retracements to the 5.08e-06 to 5.19e-06 swing, the price found support at the 61.8% level (5.15e-06) and resistance at the 38.2% level (5.17e-06). A second swing from 5.15e-06 to 5.19e-06 saw price retest the 38.2% level with a rejection, reinforcing its significance. These levels may serve as near-term psychological barriers for buyers and sellers.

Backtest Hypothesis

Given the formation of the bullish engulfing pattern and the RSI crossing above 50, a potential strategy could involve entering long positions at the close of the 05:30 ET candle, with a stop-loss placed below the 5.13e-06 support level and a take-profit target at the 5.18e-06 resistance. This setup aligns with the breakout above key moving averages and the MACD’s strong positive signal. However, the bearish rejection at 5.19e-06 suggests caution, and a trailing stop may be necessary to manage risk as the asset moves toward key levels.