Summary
•
formed a bullish engulfing pattern on 5-min chart after dropping to 0.00876.
• RSI moved into oversold territory, suggesting possible short-term rebound.
• High volume consolidation occurred between 0.00891–0.00902 as price drifted lower.
• Bollinger Bands showed a tightening before 02:45 ET, followed by a break lower.
• Daily close near 0.00896 may test 50-period MA support for the next session.
Threshold/USDC (TUSDC) opened at 0.00907 on December 29 at 12:00 ET and drifted lower to touch a session low of 0.00876 before closing at 0.00896 on 12:00 ET. Total volume for the 24-hour period was 3,091,804.6 with a notional turnover of $27,194.18.
Structure & Formations
The 5-minute chart showed a bullish engulfing pattern at 0.00896–0.00902 following a significant dip into 0.00876. A potential key support cluster exists between 0.00891 and 0.00896, where price consolidated multiple times.
Technical Indicators
The 20-period and 50-period moving averages on the 5-minute chart have been converging downward, reflecting bearish bias. RSI moved into oversold territory near 0.00876, hinting at a short-term rebound possibility. The MACD histogram showed a slight narrowing as selling pressure appeared to wane.
Volatility and Volume
Bollinger Bands showed a clear contraction around 02:45 ET, followed by a sharp move lower toward the lower band. Despite a spike in volume during the 00:15–00:45 ET window, price failed to hold above 0.00902, indicating possible bearish exhaustion or lack of follow-through buying.
Key Implications
Price may test the 0.00891–0.00896 support level in the next 24 hours as the market looks for a directional catalyst. While the RSI suggests oversold conditions, volume has not confirmed a strong reversal, so investors may want to remain cautious ahead of any follow-through rallies.
TUSDC could continue to trade within a tight range if no significant on-chain activity or news emerges. A break below 0.00891 would increase the likelihood of a test at 0.00886.
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