Walrus/USDC Market Overview: 24-Hour Price Action and Sentiment on 2025-10-12

• WALUSDC opened at 0.2394, reached a high of 0.2485, and closed at 0.2418 after a choppy 24-hour session.
• Price tested a key resistance cluster at 0.241–0.242 before pulling back, suggesting potential bearish exhaustion.
• RSI showed overbought conditions near 75–80, while volume spiked during the rebound from 0.2093 to 0.2164.
• Volatility expanded during the drop to 0.2093, with Bollinger Bands widening significantly.
• A bullish engulfing pattern formed at 0.2164–0.2175, followed by a bearish harami near 0.2426–0.2428.

24-Hour Price Summary

Walrus/USDC (WALUSDC) opened at 0.2394 on 2025-10-11 at 16:00 ET and closed at 0.2418 by 12:00 ET on 2025-10-12. During the session, the pair reached a high of 0.2485 and a low of 0.2093. Total volume for the 24-hour period was 20,240,848.0 units, while notional turnover (volume × price) amounted to approximately $4,880,948. The price action reflected a volatile but ultimately range-bound session with mixed sentiment.

Structure & Formations

Price found critical support at 0.2164 and 0.2093, where strong bullish reversals were observed. A bullish engulfing pattern formed at 0.2164–0.2175, indicating a potential short-term bottoming process. Later, a bearish harami pattern emerged near 0.2426–0.2428, suggesting a temporary pause in the upward momentum. A key resistance cluster at 0.241–0.242 was repeatedly tested and partially held, with a break above 0.2435 likely to signal a shift in near-term bias.

Moving Averages and MACD

On the 15-minute chart, the 20-period and 50-period moving averages crossed over in a bullish manner early in the morning on 2025-10-12, confirming a short-term reversal. The MACD line turned positive during the rebound and crossed above the signal line, reinforcing the bullish momentum. However, the divergence between the MACD and price during the early afternoon suggested weakening upward pressure, particularly after the 0.2428 peak.

RSI and Bollinger Bands

The RSI reached overbought territory (75–80) during the 15:00–15:30 ET window, indicating potential for a short-term correction. Bollinger Bands widened significantly during the 0.2093–0.2207 move, showing a period of heightened volatility. Price then consolidated within the bands, suggesting that the market was in a phase of retesting key levels. A breakdown below 0.2164 would likely see a test of the 0.2093 support level again.

Volume and Turnover

Volume spiked during the 14:00–15:00 ET period when price rebounded from 0.2093 to 0.2207, reaching a 24-hour high of 1.36 million units. This was accompanied by a corresponding surge in notional turnover, suggesting genuine bullish interest. However, volume declined after the 0.2428 peak, pointing to weakening momentum. A divergence between price and volume in the late afternoon signaled caution.

Fibonacci Retracements

Applying Fibonacci retracement levels to the 0.2093–0.2485 swing, the 0.2418 close aligns with the 61.8% retracement level, a key psychological barrier. A close above 0.2435 would confirm a 78.6% retracement and open the door to a test of the 0.2485 high. Conversely, a retest below 0.2164 could see the price pull back toward the 0.2093 level again.

Backtest Hypothesis

A potential backtesting strategy could focus on using the 15-minute MACD crossover in conjunction with bullish candlestick formations near Fibonacci 61.8% levels as entry signals. For example, a long entry could be triggered when the MACD line crosses above the signal line, supported by a bullish engulfing pattern at 0.2164–0.2175. A stop-loss could be placed just below the last swing low (e.g., 0.2159), with a take-profit at 0.2435. This approach would capitalize on confirmed momentum and retracement psychology while managing risk through defined stop levels.