Market Overview for Turbo/USDC on 2025-12-16

Summary
• Price tested key support at $0.00188–0.00189, rebounding with bullish momentum.
• Volume surged during the 18:45–19:30 ET window, confirming a short-term reversal.
• RSI showed overbought conditions briefly before consolidating below 60.
• Bollinger Bands contracted mid-day, preceding increased volatility in the final 6 hours.
• A bullish engulfing pattern formed after 19:30 ET, suggesting potential short-term upside.

Market Overview

The TURBOUSDC pair opened at $0.001929 at 12:00 ET-1 and closed at $0.001910 by 12:00 ET, with a high of $0.001958 and a low of $0.001853. The pair traded a total volume of 63.8 million and a turnover of $123.4 million over 24 hours.

Structure & Formations

Price action displayed a key support zone between $0.00188 and $0.00189, which held during early morning ET. A bullish engulfing pattern emerged after 19:30 ET, signaling a potential short-term reversal. A doji formed around $0.001905 at 21:15 ET, indicating indecision following a sharp rally.

Moving Averages

On the 5-minute chart, price spent much of the session below the 20SMA, but crossed above it in the late hours of the day.

The 50SMA acted as a dynamic support level, particularly in the 20:00–22:00 ET window. Daily timeframes show price trading slightly above the 50DMA, suggesting moderate near-term bullish momentum.

Momentum and Volatility

RSI peaked at 63.2 during the 19:30–20:00 ET window, indicating overbought conditions, before consolidating into a neutral range below 60. MACD showed a bullish crossover after 19:30 ET, aligning with the bullish engulfing pattern. Bollinger Bands experienced a contraction in the early afternoon, followed by a sharp expansion as volatility increased.

Volume and Turnover

The most significant volume spike occurred between 18:45 and 19:30 ET, with over $3.8 million of turnover, coinciding with a sharp price rebound. A divergence appeared in the 06:00–08:00 ET window where price fell slightly but volume remained muted.

Fibonacci Retracements

The 61.8% Fibonacci retracement level of the recent 5-minute swing from $0.001853 to $0.001958 is at $0.001916, which price reached and began consolidating around. On the daily chart, the 38.2% retracement of the prior 2-day move is at $0.001910, aligning closely with the closing price.

Forward-looking, the price may test the 61.8% Fib level as resistance over the next 24 hours, with a potential pullback into the $0.00189–0.00190 range if faced with profit-taking. Traders should be cautious of increased volatility around the 50SMA and watch for confirmation of a breakout above $0.001925.