Summary
• Price action formed bullish engulfing patterns on the 5-min chart, indicating short-term buying pressure.
• RSI reached overbought territory in the late hours, suggesting potential pullback risks.
• Turnover surged by 24.3% in the 04:30–05:00 ET window, aligning with a sharp price high.
• Volatility expanded late in the session, with Bollinger Bands widening and price pushing above the upper band.
• Volume remained consistent, with no clear divergence observed between price and turnover.
24-Hour Performance
At 12:00 ET−1 on 2026-01-02, USDC/Zloty opened at 3.576 and traded within a range of 3.572–3.586 before closing at 3.584 as of 12:00 ET on 2026-01-03. Total volume over the 24-hour period was 1,896,040.0 PLN, with notional turnover reaching 6,781,949.56 PLN.
Structure and Momentum
Price action on the 5-minute chart showed a series of bullish engulfing patterns during the 05:00–07:00 ET window, suggesting strong short-term buying interest. The RSI reached overbought levels above 75 in the early hours of the morning, indicating that aggressive buyers may be exhausting their momentum.
On the daily chart, the 50-period and 200-period moving averages appear to be converging slightly, signaling a possible short-term equilibrium.
Volatility and Volume
Bollinger Bands exhibited a noticeable expansion in the final hours of the session, particularly around 04:30–05:30 ET, as price pushed above the upper band. This suggests an increase in market participation and volatility. Volume remained fairly consistent throughout the day, with no signs of divergence between price and turnover. The highest turnover spike occurred at 04:30 ET, coinciding with the 3.585 price high.
Key Resistance and Support
On the 5-minute chart, key support levels emerged near 3.580–3.581, while resistance was identified around 3.585–3.586. A small bearish divergence appears on the daily Fibonacci retracement from the previous 24-hour high to low, with the 38.2% level aligning with the current close. This suggests potential consolidation or a pullback may be imminent.
Looking ahead, price could test the 3.586–3.587 level in the next 24 hours, but overbought momentum and the recent expansion in volatility suggest caution. Traders should watch for potential reversal signs near key Fibonacci levels and the upper Bollinger Band. As always, market sentiment and macroeconomic factors could introduce volatility outside the technical patterns observed.
Comments
No comments yet