Summary
• Price traded in a tight range before surging past 0.01328, forming a bullish breakout pattern.
• Volume spiked sharply during the 22:30–00:30 ET window, confirming the upward momentum.
• RSI reached overbought territory during the session, suggesting a potential pullback may be due.
• Bollinger Bands widened after 02:00 ET, reflecting increasing volatility in the morning session.
• Turnover increased by over 300% during the 24-hour window, aligning with price action.
24-Hour Snapshot
Tutorial/USDC (TUTUSDC) opened at 0.01315 at 12:00 ET-1, reached a high of 0.01356, a low of 0.01305, and closed at 0.01315 at 12:00 ET today. Total trading volume was 3,130,843, and turnover was approximately $42,222 (calculated using price and volume).
Structure & Formations
Price found key support at 0.01305 during the early ET window, holding it until a breakout above 0.01328 around 22:30 ET. This level appears to act as a short-term resistance-turned-support. A bullish engulfing pattern emerged during the 22:30–22:45 ET interval, followed by a strong follow-through. The price later consolidated between 0.01329 and 0.01333, forming a potential triangle pattern. A doji formed near 0.01329 at 03:00 ET, suggesting indecision.
MACD & RSI
The MACD crossed above the signal line near 22:30 ET and remained in positive territory through the early morning session, reinforcing the bullish momentum. The RSI pushed into overbought territory at 76 during the 04:15–04:30 ET window, indicating a possible pullback. However, the RSI failed to form a bearish divergence with price, which is a positive sign for continuation.
Bollinger Bands
Volatility remained compressed until 02:00 ET, after which Bollinger Bands began to widen, signaling rising uncertainty. Price remained within the upper band from 04:30–06:00 ET, suggesting strong demand in that range. By 08:00 ET, bands began to contract slightly again, which may indicate a potential pause in momentum.
Volume & Turnover
Volume spiked during the 22:30–00:30 ET window, with the largest 5-minute bar at 22:30 ET (462,136 volume), coinciding with the breakout. Turnover increased in sync with the price action, with a 340% increase in notional value compared to the previous 24 hours. However, volume declined after 08:30 ET, despite continued price consolidation, hinting at possible exhaustion.
Fibonacci Retracements
The 5-minute swing from 0.01305 to 0.01356 saw a 61.8% retrace at 0.01334–0.01336, where the price found a temporary ceiling. The daily Fibonacci from the 12:00 ET-1 open shows a key 38.2% level at 0.01319, which the price tested and held during the morning.
Price appears to be in a constructive phase, with strong volume and momentum supporting the breakout. The near-term path could test 0.0134 as a next target. However, the overbought RSI and waning volume suggest caution—price may retest support at 0.01326–0.01329 in the next 24 hours. Investors should monitor Bollinger Band contractions and RSI levels for potential reversal signals.
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