Market Overview for ZEROBASE/USDC (ZBTUSDC) – 24-Hour Summary as of 2025-10-28

• ZBTUSDC traded between $0.2319 and $0.2449 in the last 24 hours, closing near the 24-hour low at $0.2313.
• Price broke below key support levels, with bearish momentum indicated by RSI and declining volume.
• Volatility remained elevated, with Bollinger Bands widening after a prolonged contraction.
• A 15-minute candlestick reversal pattern formed near the $0.2370–0.2380 range.

The ZBTUSDC pair opened at $0.2431 on October 27, 12:00 ET, and closed at $0.2313 on October 28, 12:00 ET, after reaching an intraday high of $0.2449 and a low of $0.2319. Total volume amounted to 2,226,150.4 tokens, with notional turnover of $550,197.50 (assuming 1 ZBT = $0.2313 at close).

Price action over the last 24 hours has shown a clear bearish bias, particularly after the 19:00 ET candle closed near the session low at $0.2398, followed by a sharp descent to $0.2323 by 01:00 ET on October 28. The 20-period EMA has crossed below the 50-period EMA on the 15-minute chart, indicating short-term bearish momentum. On the daily chart, price is below both the 50 and 200-day moving averages, reinforcing the broader bearish trend.

Candlestick formations include a potential bullish reversal pattern around the $0.2370–0.2380 range, where prices stalled for multiple candles after a strong downward move. However, the pattern may not hold if bears retake control. RSI has remained in oversold territory for extended periods, suggesting potential for a bounce, though divergences between price and RSI weaken the signal. Bollinger Bands have expanded after a period of consolidation, with price testing the lower band, a typical precursor to a bounce or breakout.

Volume spiked during the early morning hours on October 28, especially during the $0.2352–0.2323 drop, but has since declined, suggesting decreasing conviction in the downward move. Fibonacci retracement levels from the recent $0.2378 to $0.2449 swing show 61.8% at $0.2409, which was briefly tested but not held.

Backtest Hypothesis
A potential backtesting strategy could involve entering long positions when RSI falls below 30 (a common oversold threshold), with an exit when price breaks below the entry-day low (a support-based sell trigger). This would align with the observed bearish structure and RSI behavior, though the strategy may struggle if the market remains range-bound. To refine the approach, incorporating a stop-loss or profit target would enhance risk management, especially in high-volatility environments like ZBTUSDC.