Market Overview: Walrus/USDC (WALUSDC) 24-Hour Technical Analysis

Summary
• Walrus/USDC opened at 0.2202 and closed at 0.2197, forming a bearish 15-minute candle.
• Price tested key support at 0.2188 twice and failed to close below it.
• Volatility expanded in the 19:00–20:00 ET range, followed by consolidation.
• MACD and RSI suggested overbought conditions earlier in the day, followed by weakening momentum.
• Bollinger Bands showed price within normal range with no extreme deviation.

Market Overview: Walrus/USDC (WALUSDC) 24-Hour Technical Analysis

Walrus/USDC opened at 0.2202 on 2025-11-13 at 12:00 ET, reached a high of 0.2224, and a low of 0.2171 during the 24-hour period, closing at 0.2197. Total volume amounted to 1,281,634.4 and total turnover reached $292,844.6 in USDC equivalents. The pair showed moderate volatility and a lack of clear directional bias, with a consolidation pattern emerging in the latter half of the session.

Structure & Formations

Price action on the 15-minute chart formed multiple testings of the 0.2188 level, a critical support. A bullish engulfing pattern formed briefly in the 18:45–19:00 ET range, but was quickly negated by bearish follow-through. The 0.2211–0.2225 range emerged as a key resistance area, with several candles closing near these levels.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart were closely aligned around 0.2205, suggesting a neutral bias. On the daily chart, the 50-period MA sat near 0.2200, while the 100- and 200-period MAs were slightly lower, indicating a potential bearish crossover if price breaks below the 20-period level.

MACD & RSI

The MACD line crossed above zero in the 19:30–20:00 ET range, signaling a brief bullish momentum, but failed to maintain it. The RSI briefly hit overbought territory at 65–68, but quickly pulled back into neutral territory. This suggests that buyers were active but not strong enough to sustain an upward trend.

Bollinger Bands

Bollinger Bands showed moderate volatility, with the mid-band sitting near 0.2205. Price spent most of the session within the bands, with a brief deviation above the upper band between 19:30–20:30 ET. This suggests a period of increased buying interest, but not enough to confirm a breakout.

Volume & Turnover

Volume spiked significantly between 19:30–20:30 ET, coinciding with a test of the 0.2211 resistance. However, price failed to close above this level, creating a bearish divergence between volume and price. Turnover followed a similar pattern, peaking during this period but trailing off as the session progressed.

Fibonacci Retracements

On the recent 15-minute swing from 0.2171 to 0.2224, the 61.8% level is at 0.2201 and the 38.2% level is at 0.2195. Price has been consolidating around the 38.2% level, suggesting potential support in the 0.2190–0.2195 range. A breakdown below this could open the next lower Fibonacci level at 0.2184.

Backtest Hypothesis

Given the recent overbought RSI conditions observed during the 19:30–20:30 ET period, a strategy based on RSI thresholds appears relevant. The backtest uses a 14-period RSI with buy signals triggered when RSI > 70. This approach assumes a bearish reversal if overbought conditions persist, aligning with the observed price behavior in this case. The test assumes no stop-loss or take-profit constraints and holds positions for up to 14 calendar days. This hypothesis could help validate or refine the strategy for future setups.