Vanar Chain/USDC Market Overview

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• Price fell 6.8% over 24 hours, closing at $0.0240 after a sharp decline from $0.0276.
• Strong bearish momentum confirmed by overbought RSI and declining volume during the drop.
• Key support tested at $0.0240, with a narrow range and consolidation in the final hours.
• High volatility observed early on, followed by a period of contraction before the sell-off.
• Large volume spikes during the early-morning and midday sell-offs, suggesting active selling pressure.

24-Hour Price Action Summary

Vanar Chain/USDC (VANRYUSDC) opened at $0.0276 on 2025-09-21 at 12:00 ET and reached a high of $0.0277 before declining sharply to a 24-hour low of $0.0235. The price closed at $0.0240 on 2025-09-22 at 12:00 ET. Total volume for the 24-hour period was 6,699,373.0, with a notional turnover of approximately $156,406. The sharp decline, especially between 05:00 and 07:00 ET, marked a bearish reversal from previous consolidation.

Structure & Formations

The daily structure appears bearish, with a large bearish engulfing pattern developing at the top of the previous range. Key support levels include $0.0240 and $0.0235, both tested in the final hours. A doji formed around $0.0240 in the final candle, suggesting potential exhaustion in the sell-off. Resistance levels are now at $0.0244, $0.0247, and $0.0249, with the $0.0250 level appearing difficult to break without a strong volume surge.

Moving Averages

On the 15-minute chart, the price closed below both the 20-period and 50-period moving averages, indicating bearish bias. The 50-period MA at $0.0245 and the 20-period MA at $0.0247 are now converging from above, which may offer a near-term resistance. On the daily chart, the 50-period MA at $0.0253 and 200-period MA at $0.0270 remain well above current levels, reinforcing the bearish momentum.

MACD & RSI

The RSI reached overbought levels during the morning consolidation but quickly moved into oversold territory during the late-night sell-off, suggesting a potential rebound. The MACD showed a bearish crossover with a negative histogram, reflecting declining momentum. However, the RSI’s inability to move further into oversold levels and the doji at $0.0240 may hint at a potential pause or short-term bounce.

Bollinger Bands

Volatility was high in the early morning with a sharp expansion in the Bollinger Bands, followed by a period of contraction as the pair moved into a tight consolidation before the sell-off. The price now sits near the lower Bollinger Band at $0.0240, which could offer a near-term support level. A break below this could expand the range and increase volatility.

Volume & Turnover

Volume spiked during the morning (06:15–06:30 ET) with a massive 3,878,578.0 volume, as the price dropped from $0.0253 to $0.0244. A second large-volume spike occurred at 09:30–09:45 ET, where volume reached 424,554.0 during a drop from $0.0243 to $0.0242. These spikes confirm the bearish momentum. Notional turnover dropped during the final hours, indicating a lack of follow-through selling.

Fibonacci Retracements

Applying Fibonacci retracements to the 06:15–06:30 ET swing, key levels at 38.2% ($0.0246) and 61.8% ($0.0242) were both tested. The 61.8% level at $0.0242 held during a key consolidation period. On the daily chart, the 61.8% retracement from the recent high of $0.0277 is at $0.0252, a level that may offer resistance on any bounce.

Backtest Hypothesis

Given the bearish structure, strong volume confirmation of the sell-off, and overbought RSI followed by a sharp correction, a potential backtest strategy could involve short entries on break below the $0.0240 level, with a stop-loss above $0.0245 and a target at $0.0235. A long bias could be considered only if the price breaks above $0.0245 with strong volume, with a target at $0.0250 and a stop below $0.0240. This approach would aim to capture continuation of the bearish trend while respecting key support/resistance levels and volume signals.