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Summary
• Price surged from 0.01248 to 0.01262 amid low volume early morning.
• Oversold RSI and low volatility suggest limited
Threshold/USDC (TUSDC) opened at 0.01248 (12:00 ET − 1) and closed at 0.01262 (12:00 ET), reaching a high of 0.01262 and a low of 0.0123. The 24-hour volume totaled 320,276.8
, with a turnover of approximately $4,000.The price action shows a sharp reversal after a bearish breakdown in the early hours, with a late-day rebound. Price is now consolidating near a minor resistance level at 0.01262, with no strong volume to confirm a breakout. This suggests that while there may be short-term buying interest, the trend lacks conviction.
The RSI is hovering near oversold levels, which could indicate that a rebound may be due, but the MACD is flattening, pointing to weak momentum. Bollinger Bands show a recent contraction, signaling low volatility, with price trading just above the lower band. This setup may suggest a low-probability short-term bounce but could also lead to a continuation of the bearish bias if volume remains muted.
Fibonacci retracement levels from the recent swing show 0.01248 as the 50% level, and 0.01262 as a 61.8% retracement, which may act as a temporary ceiling. The 38.2% level at 0.01252 appears to have been tested but not decisively held. These levels may provide psychological support or resistance in the next 24 hours.
A backtest using a Bearish Engulfing pattern could be relevant given the late-night bearish breakdown observed. By selling after a confirmed Bearish Engulfing candle with increased volume, one might aim to capture the following 3-day downtrend. For this strategy to be effective, we need the following inputs:
These details will define the back-test’s accuracy and allow for a realistic evaluation of the strategy’s viability from 2022-01-01 to 2025-11-09.
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