Vanar Chain/USDC Market Overview for 2025-11-07

Summary
• Price rose from $0.0116 to $0.0139, a 20.7% gain over 24 hours.
• Volume surged to 20.3 million, with turnover reaching $274,000.
• A bullish breakout above $0.0125 confirmed by strong volume and momentum.
• RSI hit overbought levels, suggesting potential short-term pullback.
• Bollinger Bands showed expanding volatility post-12:00 ET, confirming breakouts.

Vanar Chain/USDC (VANRYUSDC) opened at $0.0116 on 2025-11-06 at 12:00 ET and closed at $0.0139 by 12:00 ET on 2025-11-07. The 24-hour range was $0.0116–$0.014, with a total volume of 20.3 million and a notional turnover of $274,000. Price surged on strong volume, forming a bullish continuation pattern above key resistance.

Structure & Formations

Price formed a Bullish Breakout pattern, breaking above the $0.0125 resistance with confirmation from high volume. A key support level at $0.0120 was tested and held, with a Bullish Engulfing candle at $0.0125–$0.0126 confirming the reversal. A Hammer at $0.0124 also appeared near the 61.8% Fib level from the $0.0116–$0.014 move.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA, forming a Golden Cross at around $0.0124. The 50-period MA was bullish, supporting price above it throughout the day. Daily MAs were not provided, but the 15-minute cross suggests continued momentum.

MACD & RSI

The MACD crossed into positive territory, aligning with the bullish breakout. RSI hit 83, indicating overbought conditions, suggesting a potential correction. Momentum was strong, but overbought readings may trigger a short-term pullback before the next leg up.

Bollinger Bands

Volatility increased after the breakout, with the upper band reaching $0.0142. Price closed near the upper band at $0.0139, indicating bullish pressure. A contraction in the bands earlier in the day hinted at a breakout setup, which was confirmed with a sharp move higher.

Volume & Turnover

Volume spiked sharply after 04:00 ET, peaking at 4.8 million with a turnover of $62,000 during the $0.0126–$0.0128 range. The volume/price divergence was minimal, with strong volume confirming the bullish move.

Fibonacci Retracements

A key 61.8% retracement level at $0.0125 was taken out as support, validating the bullish breakout. The next target is at $0.0132, aligning with the 38.2% Fib from the $0.0116–$0.014 swing. Price may test the 78.6% Fib at $0.0129 as a short-term target.

Backtest Hypothesis

The backtest described involves identifying Bullish Engulfing candlestick patterns on historical data. While the provided dataset does not include such a pattern for VANRYUSDC, the strong breakout and volume suggest similar conditions may have been present. A backtest could be run using the Bullish Breakout formation instead, especially around the $0.0125 level. If confirmed, this setup could be traded with a stop below $0.0120 and a target at $0.0140.