Market Overview for Four/USDC (FORMUSDC)

Summary
• Price action shows a bearish bias with a breakdown below key support and declining momentum.
• Volatility expanded late in the session with increasing volume on the downside.
• RSI suggests oversold conditions, indicating a potential short-term bounce may be possible.

Four/USDC (FORMUSDC) opened at 0.3461 at 12:00 ET−1 and traded between 0.3543 and 0.3262 over the last 24 hours, closing at 0.3282 at 12:00 ET today. Total volume was 114,378.9, and notional turnover amounted to $31,889.86.

Structure & Formations

Price broke below a key support level near 0.3416, forming a bearish continuation pattern. A large bearish engulfing candle appeared during the early morning hours, confirming bearish momentum. A doji near 0.3374 signaled indecision and hinted at potential short-term reversal.

Technical Indicators

MACD turned negative during the session, aligning with the bearish price move. RSI reached oversold territory near 30, suggesting the pair could experience a temporary rebound. Bollinger Bands widened during the afternoon as volatility increased, with price lingering near the lower band, reinforcing the bearish tone.

Volume & Turnover

Volume and turnover spiked during the late evening and early morning as the price declined, with a notable surge on the 5-minute chart at 12:45 AM. The volume-to-price correlation suggests strong conviction in the bearish move.

Fibonacci Retracements

Recent 5-minute swings highlight a 61.8% retracement level near 0.3350, which could act as a short-term resistance. On the daily chart, the 38.2% retracement of the major downtrend is near 0.3390, aligning with prior support levels.

The market appears to be entering a consolidation phase after a significant selloff. A potential bounce toward 0.3350 could be in play, but a break below 0.3262 may open the door to further downside. Investors should remain cautious, as momentum indicators remain weak.