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Summary
• Threshold/USDC formed a bearish engulfing pattern at the high of 0.00932 after a short-lived rally.
• Momentum weakened into the close as RSI drifted near oversold territory with no immediate reversal sign.
• Volatility remained contained within a narrowing Bollinger Band structure, hinting at a potential breakout.
• Turnover surged at 02:45 ET, but price action failed to confirm strength, suggesting bearish conviction.
• A 61.8% Fibonacci retracement level near 0.00902 appears to have acted as a key short-term support.
Threshold/USDC (TUSDC) opened at 0.00932 at 12:00 ET–1 and traded between 0.00902 and 0.00932 before closing at 0.00902 at 12:00 ET. Total volume for the 24-hour period was 3,024,171.8, with a notional turnover of 26,996.64
.
Looking ahead, a potential test of 0.00897–0.00902 support could trigger a deeper pullback if no reversal signs develop. A modest rally back toward 0.00915 may test the strength of short-term sellers, but caution is warranted as momentum remains weak.
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