Market Overview for Tutorial/USDC (TUTUSDC): 24-Hour Analysis as of 2025-10-13

• Price action showed a volatile 24-hour range of 0.0287–0.0338 with a mixed close near the mid-range.
• Volume surged during the morning session but waned in the final hours, while turnover remained steady.
• MACD showed mixed momentum, RSI hinted at overbought conditions earlier, and volatility expanded mid-day.
• No clear bullish engulfing patterns were identified due to an internal data error affecting pattern recognition.
• Price tested key Fibonacci levels multiple times, with support at 0.0309 and resistance near 0.0325.

TUTUSDC opened at 0.0289 on October 12 at 12:00 ET, reached a high of 0.0338, and closed at 0.03097 by October 13 at 12:00 ET. Total volume for the 24-hour window was 76,461,744.0, while notional turnover amounted to approximately $2,369,673.28 (0.03097 x 76,461,744.0). Price action was characterized by choppy consolidation in the early morning, followed by a strong rally into midday before retracing toward the end of the day.

Structure & Formations

Price fluctuated within a 15-minute candle pattern characterized by multiple false breakouts and pullbacks. A bearish flag formation was observed between 16:00 and 19:00 ET, followed by a bullish recovery attempt that stalled at the 0.0338 level. Key support was identified at 0.0309 and 0.0317, with 0.0325 marking a critical resistance level. No definitive bullish engulfing patterns were confirmed due to the data-source error. However, a few potential reversal patterns emerged near these levels, including a morning star and a dark cloud cover, suggesting potential for price consolidation or reversal.

Moving Averages

On the 15-minute chart, the 20-period MA was above the 50-period MA for most of the day, indicating bullish bias early in the session. The 50-period MA crossed above the 20-period MA between 18:00 and 20:00 ET, suggesting a shift to bearish momentum. On the daily chart, the 50-period MA is above the 200-period MA, showing a broader bullish trend, but the 100-period MA has begun to converge with the 50-period MA, signaling a potential slowdown in upward momentum.

MACD & RSI

The MACD line showed mixed signals, with a positive cross in the morning turning bearish by the early afternoon. RSI peaked near 68 during the rally, suggesting overbought conditions, followed by a sharp decline to the mid-40s by the session close. This suggests potential exhaustion on the upside and increased bearish pressure, particularly as price approached prior resistance levels.

Bollinger Bands

Volatility expanded significantly during the 17:00–18:00 ET window, with the upper band reaching as high as 0.0338 and the lower band settling near 0.0317. Price remained within the bands for much of the session, with a brief test of the upper band before retracing. The contraction of the bands in the final hours of the day suggested reduced volatility and potential for a breakout or consolidation into a narrower range.

Volume & Turnover

Volume spiked during the morning rally, peaking at 3.57 million units around 00:15 ET, and again in the late afternoon with a 1.74 million-unit candle. Turnover remained consistent throughout the session, with no significant divergences between price and volume. However, the late-day drop in both volume and price hinted at weakening momentum and possible bearish sentiment ahead of the close.

Fibonacci Retracements

Fibonacci levels were tested multiple times throughout the session, with the 0.0309–0.0338 swing forming a key basis for retracement calculations. The 61.8% retracement level at 0.0325 acted as a strong resistance during the rally, while the 38.2% level at 0.0317 served as a key support. Price briefly touched the 61.8% level during a late morning surge before retreating, suggesting that traders may view this level as a key inflection point for future moves.

Backtest Hypothesis

The inability to detect Bullish Engulfing patterns due to the internal data error complicates the standard backtesting strategy. A potential workaround is to calculate the pattern manually using the 15-minute OHLC data. If we define a Bullish Engulfing pattern as a bearish candle followed by a larger bullish candle that fully engulfs the previous candle’s body, we could identify potential entry points for a 24-hour hold strategy. Given the recent volatility and retracement levels, such a strategy could be tested on the 0.0309–0.0338 price swing, using the 61.8% and 38.2% Fibonacci levels as profit-taking and stop-loss thresholds.

Forward-Looking View & Risk Caveat

Looking ahead, price may test the 0.0325 resistance level once more, with a break above potentially signaling a resumption of the bullish trend. However, bearish pressure remains evident from the late-day volume and price action, and any rally may be met with selling pressure at previous highs. Investors should remain cautious and closely monitor the 20- and 50-period MAs for signs of divergence or convergence, which could signal a trend reversal or continuation.