Sharp Volatility Tests 2.329 Fibonacci Level as Volume Surges

Summary
• Price formed bullish engulfing and bearish doji patterns within a 2.27–2.365 range.
• Strongest volume at 2.297–2.365, aligning with 61.8% Fibonacci retracement.
• RSI hovered in overbought and oversold zones, suggesting volatile momentum shifts.
• Bollinger Bands showed expansion during sharp 2.276–2.369 swings.
• Turnover surged during 22:30–23:30 ET, confirming key price levels.

The pair opened at $2.31 on 2026-03-22 12:00 ET, touched a high of $2.369, a low of $2.257, and closed at $2.29 on 2026-03-23 12:00 ET. Total 24-hour volume reached 119,430.66 with $275,595.98 in turnover.

Structure & Formations

Price action between 2.27–2.365 formed a bullish engulfing pattern at 2.28–2.329 and a bearish doji near 2.365–2.329. Key support levels emerged at 2.274 and 2.257, while resistance held at 2.308 and 2.34.

Moving Averages

On the 5-minute chart, price oscillated between 20- and 50-period MAs, suggesting no clear trend. Daily MAs (50/100/200) were not fully available, but intraday pullbacks aligned with Fibonacci 61.8% levels around 2.329–2.34.

MACD & RSI

MACD showed mixed momentum with diverging histogram bars. RSI oscillated between overbought (70) and oversold (30) levels. indicating strong volatility and potential for consolidation.

Bollinger Bands

Volatility expanded during the 22:30–02:45 ET period as price surged from 2.276 to 2.369, breaking out of the upper band. By 05:45–06:45 ET, volatility compressed again as the pair traded within a narrower range.

Volume & Turnover

Volume spiked at 2.297–2.369 during 22:30–23:30 ET, confirming the upper range. Notional turnover aligned with price surges, with the largest single bar at 2.297–2.329. No significant divergence was observed between price and turnover.

Fibonacci Retracements

From the swing low of 2.257 to the swing high of 2.369, the 61.8% retracement level at 2.329–2.34 was tested multiple times. Price may test 2.274 (38.2%) as a potential support zone over the next 24 hours.

Looking ahead, the next 24 hours could see a test of 2.34–2.365 resistance or a pullback to 2.274. Investors should remain cautious due to the high volatility and potential for sharp reversals.