Market Overview for TURTLEUSDC on 2025-11-07

• TURTLEUSDC opened at $0.1032 and closed at $0.0987, with a 24-hour high of $0.1044 and low of $0.0981.• Price action shows a sharp decline from 18:00 ET with sustained bearish momentum and multiple key support levels tested.• Notional turnover reached $12.67 million with moderate volume spikes during the late night and early morning hours.

Turtle/USDC (TURTLEUSDC) opened at $0.1032 on 2025-11-06 at 12:00 ET and closed at $0.0987 on 2025-11-07 at 12:00 ET. The 24-hour window saw a high of $0.1044 and a low of $0.0981. Total trading volume was approximately 4,339,709.4 units, with a notional turnover of about $12.67 million. The pair exhibited bearish price action and moderate trading activity.

The structure of the price action over the past 24 hours suggests a key support level forming around the $0.0995–$0.0999 range, tested multiple times between 22:00 ET and 04:00 ET. A bearish engulfing pattern became evident at 19:00 ET, with the close of $0.1006 forming a bearish confirmation after a high of $0.1023. A potential resistance level at $0.1011–$0.1015 was breached multiple times in early sessions but failed to hold as sellers took control in the late evening hours.

The 15-minute moving averages indicate a strong bearish bias, with the 20-period (0.1017) and 50-period (0.1020) both above the current price. The RSI has dipped below 30, suggesting oversold conditions, though the bearish momentum remains intact as seen in the MACD histogram, which has been negative since 20:00 ET. Bollinger Bands have seen a moderate contraction in the past 6 hours, suggesting a potential for a breakout.

Volume and notional turnover spiked significantly during the 22:00–05:00 ET window, coinciding with a sharp pullback from $0.1030 to $0.0984. The divergence between higher volume on lower prices suggests sustained selling pressure rather than a reversal. Fibonacci retracement levels show the $0.1005 (38.2%) and $0.0992 (61.8%) levels acting as key psychological barriers during the pullback.

A potential continuation of the bearish trend seems likely over the next 24 hours, assuming the key support at $0.0995–$0.0999 holds. A break below this could target $0.0978–$0.0985 as the next level. Traders should remain cautious as overextended bearish momentum could invite a short-term bounce, especially if volume and turnover decline.

Backtest Hypothesis

To assess potential trading signals, a strategy focusing on Hammer candlestick patterns detected since 2022 could be effective. By using the 5-day holding period following a confirmed Hammer, backtesting could evaluate the profitability of such a signal. This approach aligns with the current RSI and MACD indicators suggesting oversold conditions, making it plausible for a short-term bounce. If the system supports TURTLEUSDC or a similar ticker, we can generate signals and back-test their historical performance to refine future trading decisions.