TUTUSDC Fails to Confirm Rally at $0.01111 as RSI Hits Oversold

Summary
• Price tested key resistance at $0.01111, forming a bearish reversal pattern after a short-lived rally.
• Volatility spiked midday with high turnover, but failed to confirm bullish momentum.
• RSI moved into oversold territory at the close, suggesting potential short-term rebound.
• Volume remained elevated throughout the session, confirming price action on key moves.
• Bollinger Bands narrowed during quiet hours, hinting at a potential breakout scenario.

The TUTUSDC pair for Tutorial/USDC opened at $0.01100 at 12:00 ET − 1 and reached a high of $0.01116, with a low of $0.01076 before closing at $0.01088 at 12:00 ET. Total volume for the 24-hour period was 1,840,974.0, with a notional turnover of 19,851.56.

Structure & Formations

Price action developed a key resistance at $0.01111, where candlestick formations—particularly an evening star pattern—signaled a bearish turn. A strong engulfing candle formed around 03:30 ET as price reversed from a high of $0.01116 to close at $0.01111. Later, a bearish harami appeared after a failed rally to $0.01108. A strong support level emerged near $0.01095, where price consolidated multiple times.

Moving Averages

On the 5-minute chart, the 20-period MA closely tracked the 50-period MA, reflecting a sideways bias with limited directional momentum. The 50-period MA acted as a dynamic resistance level, capping advances above $0.01101. Daily moving averages indicated a neutral stance with no clear trend.

MACD & RSIa candlestick chart showing the TUTUSDC price forming an evening star pattern around $0.01111, followed by a bearish harami at $0.01108, with RSI dropping below 30 in the final hours

The MACD showed a bearish crossover during midday hours, confirming a shift in momentum. RSI dropped sharply below 30 in the final hours, indicating oversold conditions, but divergence between price and RSI was absent, suggesting potential for a short-term bounce.

Bollinger Bands

Volatility expanded during active trading hours, with the Bollinger Bands widening significantly after 02:00 ET. Price remained within the bands, but approached the upper band near $0.01108 and the lower band near $0.01095. A contraction was noted during the early morning hours, hinting at a possible breakout.

Volume & Turnover

Volume surged during the late night and early morning, with a peak at 02:30 ET (volume: 218,259.0) confirming the upward attempt toward $0.01108. However, a later dip in volume below 5,000 units during bearish reversals suggests weakening conviction. Notional turnover matched the volume trend, peaking at $2,411.99.

Fibonacci Retracements

The $0.01101 level corresponded with the 61.8% Fibonacci retracement of the earlier $0.01116–$0.01095 swing, acting as a key pivot. A failed test at the 78.6% level suggests possible bearish continuation if support at $0.01083 fails.

Price may test the $0.01083 level in the next 24 hours, with a potential rebound from oversold RSI. Traders should monitor for a break of $0.01111 or $0.01083, as either could confirm the next directional move.