USTCUSDT Market Overview

• Price surged by 3.3% in 24 hours, closing near a fresh high at $0.01391
• Momentum picked up on rising RSI and bullish MACD crossovers
• Volume increased steadily into the close, confirming price strength
• Volatility expanded as price broke above a key 0.01365–0.0137 resistance
• A bullish engulfing pattern emerged after 0.01365 support held

At 12:00 ET–1, USTCUSDT opened at $0.01338 and closed at $0.01391, hitting a high of $0.01418 and a low of $0.01353. Total volume was 60.5 million units, and notional turnover amounted to $8.43 million. The price action reflects a strong bullish bias over the last 24 hours.

Structure & Formations

USTCUSDT displayed multiple bullish signals, including a key engulfing pattern after 0.01365 support held overnight. Price advanced in a clear ascending channel, with strong consolidation above 0.01375 after 07:00 ET. A 24-hour high at $0.01418 emerged following a powerful bullish breakout. Key resistance is now at $0.01418, with immediate support at $0.01375. A rejection here could lead to a pullback toward 0.01365–0.01362.

Moving Averages

On the 15-minute chart, USTCUSDT closed well above the 20- and 50-period moving averages, suggesting short-term bullish momentum. The 50-period line crossed above the 100-period on the daily chart, indicating a trend reversal and renewed bullish bias. The 200-period daily line remains in bearish territory but is starting to show signs of convergence with the shorter-term MA.

MACD & RSI

MACD showed a clear bullish crossover with a growing histogram, reflecting increased buying pressure. The RSI climbed above 50 and moved into overbought territory, peaking near 68 before retreating slightly. This suggests momentum remains strong, though caution is warranted if RSI breaks below 55, which could signal a near-term pullback.

Bollinger Bands

Volatility expanded sharply after the $0.01418 high, pushing price to the upper Bollinger band and signaling a breakout. The lower band remained at $0.01362. Price has remained outside the upper band for much of the session, suggesting a continuation phase. A move below the middle band could trigger a retest of the 0.01375 level.

Volume & Turnover

Volume remained above average throughout the session, particularly after 09:00 ET, when the 15-minute chart saw a sharp increase in activity. Notional turnover rose in tandem with price, confirming the bullish breakout. A divergence between volume and price could signal exhaustion, but for now, the correlation remains strong.

Fibonacci Retracements

Applying Fibonacci levels to the recent swing low of $0.01353 and high of $0.01418 shows key retracement levels at 0.01388 (23.6%), 0.01379 (38.2%), and 0.01368 (61.8%). Price is currently consolidating near the 38.2% retracement level and could face resistance at the 23.6% mark. A break above 0.01418 may trigger a retest of 0.01432 (extension level).

Backtest Hypothesis

Given the current bullish momentum and confirmation from both volume and technical indicators, a backtest strategy could be constructed using a 15-minute chart signal: enter long on a close above the 50-period MA with RSI above 50 and MACD above zero. A stop-loss could be placed below the 61.8% Fibonacci level (0.01368), with a target at 0.01395 (23.6% retracement). This setup would aim to capture short-term continuation moves in a rising trend.