Market Overview: USDC/Tether (USDCUSDT) 24-Hour Activity

Summary
• Price remained tightly range-bound near 0.9998-0.9999 with no clear directional bias.
• Volume increased during late hours, especially after 06:00 ET, but failed to confirm a breakout.

• Bollinger Bands showed low volatility early, expanding slightly as volume picked up.

The USDC/Tether pair (USDCUSDT) opened at 0.9998 on 2025-12-08 12:00 ET, reaching a high of 1.0001 and a low of 0.9997 before closing at 0.9999 on 2025-12-09 12:00 ET. Total volume for the 24-hour window was 416,619,304.0, with a notional turnover of approximately $416,107,337.00.

Structure & Formations

Price remained within a narrow range of 0.9997 to 1.0001 throughout the day, forming multiple small spinning top and doji candles, particularly during overnight hours. The key support held around 0.9997, while resistance formed at 0.9999-1.0001. A potential bearish engulfing pattern appeared near the 06:30 ET 5-minute candle, but it failed to gain follow-through.

Moving Averages

On the 5-minute chart, the 20-EMA and 50-EMA were almost overlapping, reflecting sideways consolidation. On the daily chart, the 50/100/200-EMA structure suggested a flat market with no strong directional bias.

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MACD & RSI

The 12-26 MACD histogram showed minimal divergence, aligning with the range-bound price action. RSI remained within the mid-40s to 50s range, suggesting neither overbought nor oversold conditions. Momentum appeared neutral, with no clear trend forming.

Bollinger Bands

Bollinger Bands showed a period of contraction overnight, followed by a gradual expansion in the early morning hours. Price traded near the mid-band for most of the day, with only a few excursions toward the upper and lower bands.

Volume & Turnover

Volume spiked significantly after 06:00 ET and remained elevated through the morning, especially during the 06:15-08:00 ET period. Notional turnover mirrored volume patterns, peaking around 06:15-06:30 ET, but price did not break out of the range, suggesting distribution or order block accumulation without directional intent.

Fibonacci Retracements

Fibonacci levels drawn from the recent swing low (0.9997) and swing high (1.0001) showed price bouncing off the 61.8% level (0.9998) several times, reinforcing its role as a key support/resistance area.

The market appears in a neutral consolidation phase, with no clear breakout confirmed. Investors may want to watch for a decisive move above 1.0001 or below 0.9997 for directional clues, though the risk of range-bound trading continuing remains high.