VANAUSDC Bounces From 1.521 With Bullish Engulf After Failed Overbought Push

Summary
• VANAUSDC tested key support at 1.521 before rebounding, forming a bullish engulfing pattern.
• Volume spiked near 1.521 and 1.550, with turnover confirming strength on the 1.529–1.550 rally.
• RSI showed overbought conditions briefly, but price remains within a tightening Bollinger Band range.
• Momentum turned positive after 17:00 ET, with MACD crossing into positive territory.

Vana/USDC (VANAUSDC) opened at 1.571, reached a high of 1.589, and a low of 1.505 before closing at 1.526 at 12:00 ET. Total 24-hour volume was 10,765.07, and turnover amounted to 16,286.34 USDC.

Structure & Formations

Price broke down to 1.521, finding initial support, and responded with a bullish engulfing pattern at 17:00–17:15 ET. Resistance levels appear at 1.550 and 1.575, with a prior breakdown at 1.545 now acting as a minor floor.

Moving Averages

On the 5-minute chart, the 20-period MA crossed above the 50-period MA after 16:15 ET, signaling a short-term bullish bias. On the daily timeframe, the 50-period MA remains above the 200-period MA, maintaining a neutral to bearish tone.

MACD & RSI

The MACD turned positive after 17:00 ET, coinciding with the bullish engulfing pattern. RSI reached overbought territory (70+) briefly but failed to hold, indicating mixed momentum.

Bollinger Bands

Volatility has been contracting in the final 5 hours of the report, with price consolidating near the upper band. A break above 1.550 could trigger a volatility expansion upward.

Volume & Turnover

Volume spiked to over 3,300 at 17:00 ET, supporting the 1.521 bounce. Turnover mirrored the volume increase, with confirmation of strength on the rebound.

Fibonacci Retracements

Price recently retested the 61.8% level of the 1.521–1.571 move at 1.545 and appears to have found support at the 38.2% retracement (1.529–1.550 swing).

Price may consolidate near 1.526 in the near term before testing 1.545–1.550 again. Traders should watch for a breakout above 1.550 or a rejection below 1.521 to confirm the next directional move.