Vanar Chain/USDC (VANRYUSDC) Market Overview: 24-Hour Technical Summary

Summary
• Price action showed a bearish bias with a closing near the session low at $0.0120 after a morning peak near $0.0124.
• Key support tested near $0.0120 with multiple candles failing to close above this level.
• Volume spiked in early hours before tapering off, showing waning buying pressure.

Price and Volume Profile

Vanar Chain/USDC (VANRYUSDC) opened at $0.0122 on 2025-11-05 12:00 ET and peaked at $0.0124 before declining to a 24-hour low of $0.0116 by 16:45 ET. The pair closed at $0.0118 at 12:00 ET on 2025-11-06. Total volume for the 24-hour window was 13,661,524 units, and notional turnover was approximately $163,938.

The candlestick action reflected a bearish shift, with several long-bodied red candles forming after the market’s high. A notable pattern appears in the morning session (17:00–18:30 ET), where the price consolidated into a narrow range, suggesting indecision. As the day progressed, the trend turned bearish, with a gap down to $0.0118 and a final candle forming a bearish engulfing pattern on the daily chart, signaling potential further downside.

Key Support and Resistance Levels

Immediate support appears to be forming around $0.0120, with several candles failing to close above this level and multiple rejections observed. A critical support level at $0.0118 may be tested in the near future, particularly if momentum fails to recover. Resistance is currently clustered near $0.0123–0.0124, where multiple bullish attempts were negated by increased bearish pressure.

Notable candlestick patterns include a morning doji at $0.0122 and a large bearish engulfing candle forming on the 1-hour chart around 15:30 ET. These patterns suggest a shift in sentiment toward the downside and may indicate that the bulls are struggling to regain control.

Volatility and Momentum Indicators

Bollinger Bands indicate a moderate expansion in volatility as the price drifted lower, with the pair staying near the lower band in the final hours of the 24-hour window. This could suggest an overbought condition on the bearish side, with potential for a bounce or further decline.

Volume spiked in early hours before tapering off, suggesting waning interest in long positions. A divergence in price and volume may be emerging, with price dropping despite relatively high turnover. This could indicate exhaustion in the bearish move.

Backtest Hypothesis

Given the RSI data unavailability for the pair, it is critical to verify the correct ticker symbol for Vanar Chain/USDC. The data provider’s inability to identify the asset implies that the ticker symbol may need clarification—whether it is “VANRY/USDC”, “VANYUSDC”, or another variant. If the symbol is misconfigured, this could prevent the retrieval of accurate RSI data for backtesting.

Once the correct ticker is confirmed, a 14-period RSI can be calculated to assess overbought and oversold conditions. A potential trading strategy could then be tested, where longs are initiated when RSI falls below 30 (oversold) and exits occur when it rises above 30 or after 5 days. This strategy would be evaluated from 2022-01-01 to 2025-11-06. Clarifying the correct symbol is essential for accurate backtesting and strategy validation.