Market Overview for Turbo/USDC (TURBOUSDC)

Summary
• Price closed lower at 0.001662, with key support at 0.001651 and resistance near 0.001675.
• Momentum waned in the second half of the day as RSI dipped toward neutral territory.
• Volatility expanded late in the session, with price testing lower Bollinger Band thresholds.
• Volume surged during the late New York session, coinciding with a sharp price drop.
• A bearish engulfing pattern formed near 0.001662 after earlier bullish divergence in price and turnover.

The pair opened at 0.001661 on December 30 at 12:00 ET, reached a high of 0.001691, and closed at 0.001662 at 12:00 ET on December 31. Total volume amounted to 29,194,582.0, with a notional turnover of $49,162.58. Price action was marked by a volatile afternoon and evening, with a strong bearish reversal toward the end of the 24-hour period.

Structure & Formations

Price action on the 5-minute chart showed a bearish engulfing pattern at the session’s end, following a brief attempt to retest recent resistance around 0.001675–0.001684. Earlier in the day, a bullish divergence formed briefly around 0.001661–0.001663, but it was not confirmed by volume or momentum. Key support levels appeared at 0.001651 and 0.001648, with 0.001662–0.001664 acting as a short-term resistance zone.

Moving Averages

On the 5-minute chart, price closed below both the 20-period and 50-period EMA, signaling a bearish bias. The 50-period line was near 0.001662, suggesting current price is in consolidation. For the daily chart, the 50-period SMA sits at 0.001667, with price showing a slight bearish bias against the 200-period SMA.

MACD & RSI

The 12/26 MACD showed bearish divergence in the final hours of the session, with the histogram turning negative after a short-lived positive phase. RSI dropped from 55 to 47, indicating weakening momentum and a potential shift toward oversold territory if price continues lower. A rebound could test RSI levels around 55 for near-term resistance.

Bollinger Bands

Price spent much of the session within the Bollinger Bands, with a notable contraction in volatility observed between 05:00 and 09:00 ET. A late-day expansion occurred after 16:00 ET, with price testing the lower band near 0.001619. This could signal a continuation of bearish pressure if the 0.001648 level breaks.

Volume & Turnover

Volume spiked sharply in the late afternoon and evening, with the most significant movement occurring between 16:00 and 17:00 ET, during which turnover surged to nearly $14,765. A divergence appeared between price and volume during the earlier bullish phase, suggesting weak conviction behind the rally. The bearish move in the final 3 hours was accompanied by strong volume, reinforcing the likelihood of further downward movement.

Fibonacci Retracements

Fibonacci levels drawn on the 5-minute swing from 0.001651 to 0.001691 showed key levels at 0.001672 (38.2%) and 0.001664 (61.8%). Price retested the 61.8% level twice without breaking through, suggesting short-term consolidation. On the daily chart, the 50% retracement level of the prior week’s range sits at 0.001664, coinciding with the 5-minute 61.8% level.

Looking ahead, price appears to be in a short-term bearish trend, with a potential test of 0.001648 in the next 24 hours if the current momentum persists. Investors should closely monitor volume for confirmation of further breakdown or reversal signals.