Summary
• Price dropped to 3.51 before strong buyers pushed USDCPLN back toward 3.62 by the end of the 24-hour period.
• Volatility surged, with a 2.3% range and significant volume expansion in early ET hours.
• RSI suggests oversold conditions at 3.51, indicating potential short-term rebound.
• Bollinger Bands show price tested the lower band, suggesting potential mean reversion.
• A bullish engulfing pattern formed between 05:30–05:45 ET, signaling a possible near-term reversal.
24-Hour Price and Volume Summary
At 12:00 ET–1, USDC/Zloty opened at 3.62 and reached a low of 3.51 before closing at 3.62 at 12:00 ET. The pair traded between 3.51 and 3.626 during the period. Total volume for the 24-hour window was 3,312,608.0 and notional turnover was 11,665,880.54 PLN.
Structure & Formations
The price experienced a sharp correction from 3.62 to 3.51 during early ET hours, forming a bearish impulse. However, a strong bullish reversal emerged after 05:30 ET with a bullish engulfing pattern suggesting accumulation. Key support levels were evident at 3.55 and 3.51, while resistance formed around 3.62.
Moving Averages
The 20-period and 50-period moving averages on the 5-minute chart crossed below the price, indicating bearish momentum earlier in the session. By the final hours, the price retested and crossed back above the 20-period MA, suggesting renewed buyer interest. Longer-term (daily) 50/200 MA levels were not tested within this 24-hour timeframe.
MACD & RSI
MACD turned positive during the final hours of the session as price recovered from 3.51. RSI reached oversold levels near 30 during the dip, suggesting potential short-term bounce. However, momentum remains cautious as the RSI has yet to confirm a sustained breakout above 50.
Bollinger Bands
Price tested the lower Bollinger Band during the early ET hours and remained near the band for several hours, indicating high volatility and bearish pressure. By the final hours, price retested the middle band and moved toward the upper band, showing increased bullish momentum and a possible expansion in volatility.
Volume & Turnover
Volume surged sharply during the 05:30–06:00 ET hour, coinciding with the reversal from 3.51 to 3.62. Notional turnover also spiked during the same period, confirming the strength of the move higher. Price and turnover were aligned, suggesting the move was backed by strong accumulation.
Fibonacci Retracements
Applying Fibonacci to the 3.51 to 3.626 swing, the price currently sits near the 61.8% level, suggesting a potential near-term ceiling if buyers continue to push higher. This retracement level could act as a short-term resistance with further upside potential if buyers push past it.
Forward-Looking Observation
With key support at 3.51 now showing signs of strength, buyers may attempt a test of the 3.626 high in the coming 24 hours. However, volatility remains high and a retest of the 3.55 level is possible if momentum wanes. Investors should watch for a sustained close above 3.62 as a signal of renewed bullish intent.
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