ZBTUSDC Surges Then Collapses — Volume Tells a Bearish Tale

Summary
• Price surged past $0.0685 on strong volume, forming a bullish engulfing pattern near $0.0675.
• RSI signaled overbought conditions near $0.071, followed by a sharp pullback and oversold conditions.
• Volatility expanded in the early hours, with volume spiking 3x above prior levels.

ZEROBASE/USDC (ZBTUSDC) opened at $0.0683 on 2026-02-06 12:00 ET and closed at $0.0649 on 2026-02-07 12:00 ET. The 24-hour range was $0.0646 to $0.071, with total volume of 363,202.7 and turnover of $24,775.5.

Structure & Moving Averages

Price formed a bullish engulfing pattern at $0.0675, then moved into a bearish divergence with RSI near $0.071, suggesting a failed breakout. The 20-period 5-minute moving average briefly crossed above the 50-period line during the upward thrust, but the move was short-lived. On the daily chart, the 50-period moving average appears to have acted as resistance during the pullback.

Momentum and Volatility

RSI reached overbought conditions at $0.071 before sharply retreating to oversold territory near $0.0655. The Bollinger Bands showed a clear expansion during the early morning rally, with price briefly touching the upper band before a sharp reversal. This suggests a period of heightened volatility and diverging momentum.

Volume and Fibonacci Retracements

Volume spiked to 76,728.0 on the bar ending at $0.0661, signaling strong conviction in the downward move. A bearish retracement of the earlier $0.0675 to $0.071 rally saw price retest the 61.8% level at $0.0684, but failed to hold. Turnover and volume were closely aligned during the sharp drop, showing no significant divergence.

Looking ahead, price appears poised to test the 38.2% retracement level at $0.0664, which could determine short-term direction. Investors should remain cautious for a potential consolidation phase if the 20-period 5-minute MA fails to reassert as support.