Market Overview for TUTUSDC

• Price surged from $0.06634 to $0.06929, then retraced to $0.06746, forming a key consolidation pattern.
• Momentum shifted from bullish to bearish as RSI dipped from overbought to neutral territory.
• Volume spiked to 12,438,000 with turnover reaching $699,126, indicating increased activity in late hours.
• A bullish engulfing pattern formed at the 19:30 ET 15-minute candle before a sharp reversal.
• Bollinger Bands widened after midday, reflecting increased volatility and potential breakout risks.

The TUTUSDC pair for Tutorial/USDC opened at $0.06742 on 2025-09-17 at 12:00 ET, peaked at $0.06929, and closed at $0.06746 as of 12:00 ET on 2025-09-18. Total volume for the 24-hour window was 3,178,940, with a notional turnover of $699,126. Price action has been volatile, marked by a strong move higher followed by a sharp pullback, setting up key technical levels for future action.

Structure & Formations

Price action over the 24-hour period revealed a classic bullish reversal pattern forming between $0.06634 and $0.06929, followed by a bearish correction. A strong engulfing candle appeared at $0.06795–$0.06804 before a bearish breakdown. Notable support levels now appear at $0.06745–0.06746 and $0.06634–0.06635, with $0.06878 and $0.06904 acting as key resistances. A doji at $0.06805 around 12:00 ET suggests indecision and potential short-term consolidation.

Engulfing and Correction

The 19:30 to 19:45 ET bullish engulfing candle indicated strong buying pressure, which was short-lived as price fell into a consolidation phase. A bearish reversal pattern emerged after hitting $0.06929, with a subsequent breakdown to $0.06846 and then to $0.06746. A bearish divergence between volume and price emerged late in the session, indicating that the down move might not yet be exhausted.

Moving Averages

The 15-minute chart showed price fluctuating around the 20-period MA at $0.06790 and the 50-period MA at $0.06816. These lines acted as dynamic support and resistance during the late morning and early afternoon. On the daily chart, the 50-period MA is at $0.06740 and the 200-period MA is at $0.06695, suggesting that the pair may remain in a bullish bias if it holds above the 50-period level.

Short and Long-Term Bias

The 15-minute chart saw price frequently crossing above and below the 20- and 50-period MAs, signaling choppy intraday conditions. The daily structure, however, remains above the 50-period MA, indicating that the longer-term trend may still be intact despite the recent bearish pullback. A break below $0.06695 could invite more bearish sentiment.

MACD and RSI

The MACD line crossed below the signal line in the early afternoon, confirming a bearish shift in momentum. The RSI moved from overbought territory (70+) to a neutral zone (55–60) by the end of the session. This suggests that buyers may be losing control and that sellers could dictate short-term direction if the correction continues. However, a rebound above $0.06800 may reignite bullish momentum.

Bollinger Bands

Bollinger Bands expanded after midday, indicating an increase in volatility. Price closed near the middle band, suggesting that the consolidation phase may continue. A sustained move above the upper band or a breakdown below the lower band could indicate a breakout or breakdown is in the offing. Currently, price is within the bands, but the widening suggests a potential shift in directional bias.

Volume & Turnover

Volume spiked sharply in the early morning and late afternoon, with a peak at 12,438,000 in the late afternoon. Turnover closely followed the volume increases, showing strong participation in the bearish move. A divergence between price and volume appears in the late session, which could signal a potential reversal if price finds support.

Fibonacci Retracements

Applying Fibonacci to the 15-minute swing from $0.06634 to $0.06929, the 61.8% retracement level at $0.06794 acted as a strong resistance point. The current price at $0.06746 is near the 38.2% retracement level, which could offer support if the consolidation continues. A move below $0.06697 would target the 23.6% level at $0.06667, reinforcing the bearish bias.

Backtest Hypothesis

The backtest strategy described is based on identifying bullish engulfing patterns followed by a bearish confirmation candle. Given the appearance of a strong engulfing pattern at $0.06795–0.06804, the subsequent bearish confirmation at $0.06805–0.06792 and $0.06792–0.06787 aligns with the criteria of the strategy. This suggests a potential short-term bearish trade setup with a stop placed above $0.06805 and a target near $0.06730. The pattern’s success depends on continued bearish momentum and a lack of strong bullish retests.