Market Overview for USDC/Tether (USDCUSDT) – 2025-11-01

• Stable price action observed with minimal 24-hour range of 1.0002–1.0004.
• Volume and turnover remain steady, with no significant divergence or spikes.
• Price consolidates tightly within Bollinger Bands, indicating low volatility.
• RSI and MACD show no overbought/oversold signals, suggesting muted momentum.

The 24-hour candle for USDC/Tether (USDCUSDT) opened at 1.0003, reached a high of 1.0004, a low of 1.0002, and closed at 1.0003 by 12:00 ET. Total volume was 965.86 million USDC, with turnover totaling $965.86 million USD. The pair remained in a tight consolidation pattern, with price oscillating between the 1.0002 and 1.0004 levels.

Structure and formations suggest a neutral bias, with no significant candlestick patterns emerging in the 15-minute chart. The absence of large bullish or bearish formations implies low conviction in either direction. The price remains within a narrow channel, and Fibonacci retracements drawn from the most recent swing show the 0.5 level aligning with the current consolidation range, suggesting the price could remain there for some time.

The 20-period and 50-period moving averages on the 15-minute chart are closely aligned, reinforcing the sideways bias. MACD remains near the zero line with a weak histogram, indicating little momentum, while RSI hovers in the 50–52 range, signaling a balanced market. Bollinger Bands show minimal expansion, and price remains within the mid-band, further supporting a continuation of consolidation.

Volume and notional turnover remained consistent throughout the 24-hour period, with no sudden surges or divergences from price action. The largest 15-minute volume spike occurred at 23:15 ET on October 31, with 122.62 million USDC traded, but it had no significant impact on price. The overall balance between supply and demand appears stable, and no signs of a breakout are evident in the data.

Backtest Hypothesis
The absence of a detected "Bearish Kicking" pattern in USDC/USDT could be due to the chart's inherently low volatility or the limitations of the data provider’s algorithm. Given the nature of USDC as a stablecoin, large candlestick patterns like Bearish Kicking are unlikely to form frequently, if at all. For backtest purposes, a more volatile pair such as BTC/USDT or ETH/USDT would be better suited to identify and validate such patterns. Alternatively, a synthetic price series derived from USDCUSD and USDTUSD could be constructed to isolate potential Bearish Kicking setups. The next step would be to either switch to a more volatile pair or generate the synthetic series for pattern scanning.