Vanar Chain/USDC Market Overview

Summary
• Price fluctuated within a tight range of $0.0136–$0.0148, ending near mid-range.
• Volume spiked during midday ET, but failed to confirm a breakout.
• RSI and MACD remain neutral, signaling potential consolidation.

The Vanar Chain/USDC (VANRYUSDC) pair opened at $0.0137 on 2025-11-07 at 12:00 ET and closed at $0.0140 on 2025-11-08 at 12:00 ET, reaching a high of $0.0148 and a low of $0.0136 during the 24-hour window. Total volume traded was 31,131,399.0 units, while notional turnover amounted to $449,884.00. Price action suggests range-bound behavior with no clear directional bias at present.

Structure & Formations

Price has shown a consistent inability to break above $0.0148, forming a key horizontal resistance level. A notable bullish pattern appeared around 19:30–20:15 ET, where price formed a small ascending triangle pattern. A bearish engulfing candle was observed at 06:45 ET, signaling a potential reversal in short-term momentum. The psychological level of $0.0140 appears to be a key support, holding firm after brief tests.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are closely aligned, indicating a neutral trend. Price has oscillated around the 20-period SMA, showing no clear direction. On the daily chart, the 50- and 200-day SMAs are also near one another, with no clear short-term bias. Price appears to be consolidating in a channel between the 200-day and 50-day averages.

MACD & RSI

The MACD remains near the zero line, with no clear divergence from the price. The histogram has contracted slightly, suggesting a period of lower momentum. RSI has oscillated between 40 and 60, indicating neither overbought nor oversold conditions. This implies that the market is currently in a state of equilibrium, with neither buyers nor sellers gaining the upper hand.

Bollinger Bands

Price action has remained within the Bollinger Band channel throughout the 24-hour period. Volatility appears to be moderate, as the bands have not widened or narrowed significantly. At times, the price has touched the upper and lower bands, but not broken through. This suggests that while there is some pressure on both sides of the range, a breakout is yet to be confirmed.

Volume & Turnover

Volume has been moderate, with several spikes occurring during key price movements. The most significant volume spike occurred between 17:30–19:30 ET, coinciding with a rally toward $0.0148. Turnover has mirrored volume closely, with no signs of divergence. However, the volume during the attempted rally was not sufficient to confirm a breakout, and price eventually reversed downward.

Fibonacci Retracements

Applying Fibonacci levels to the recent swing from $0.0136 to $0.0148, the 38.2% retracement level lies at $0.0141 and the 61.8% at $0.0139. Price has touched the 38.2% level multiple times without breaking through, indicating a potential area of resistance. Conversely, the 61.8% level has acted as support, with price bouncing off it on several occasions. This suggests the current range is being defined by these key Fibonacci levels.

Backtest Hypothesis

Given the current range-bound structure and Fibonacci support/resistance levels, a potential backtest strategy could be built around entries near these levels. For example, a buy signal could be generated when price touches the 61.8% Fibonacci level ($0.0139) with confirmation of a bounce (e.g., a close above $0.0140). A sell signal could be triggered if price breaks above the 38.2% level ($0.0141) or if a bearish reversal pattern forms at resistance. Stop-loss levels could be placed just below key support or based on a fixed percentage (e.g., -2.5% from entry). This approach would leverage the current structure and Fibonacci levels to test a mean-reversion strategy.