Market Overview: AC Milan Fan Token/Tether (ACMUSDT)

• Price rose from 0.866 to 0.882 before retracing to close near 0.872.
• Key resistance at 0.879–0.882 and support at 0.87–0.872 held during pullbacks.
• Volume surged at key turning points, especially around 0.88 and 0.873.
• RSI signaled overbought conditions near 0.882 and oversold around 0.868–0.87.
• Bollinger Bands show recent volatility contraction, suggesting potential breakout.

At 12:00 ET–1, ACMUSDT opened at 0.866 and reached a high of 0.882 before closing at 0.872. Total volume over the 24-hour period was 330,089.5, with total turnover of 286,928.5. Price action featured several key turning points and volume spikes, indicating active participation in key levels.

Structure & Formations

Price action over the past 24 hours displayed multiple instances of bullish and bearish engulfing patterns. A key bullish engulfing pattern formed near 0.873, followed by a bearish one at 0.879–0.882. A morning star pattern emerged at 0.870–0.874, suggesting potential support. Resistance levels are forming at 0.879 and 0.882, while support appears consolidated around 0.870–0.872. A doji appeared at 0.875, indicating indecision.

Moving Averages and Momentum

The 20-period and 50-period moving averages on the 15-minute chart crossed multiple times, forming a series of crossovers that could suggest shifting momentum. The daily chart shows a 50-period MA at 0.873 and a 200-period MA at 0.870, with price oscillating between the two. This suggests a potential base-building phase. MACD remains neutral, with a recent crossover suggesting a possible bearish shift. RSI has moved from overbought to neutral, indicating waning upward momentum.

Volatility and Volume

Bollinger Bands show a recent narrowing trend, particularly between 0.871 and 0.879, suggesting a period of consolidation ahead of a potential breakout. Price tested the upper band at 0.882, indicating a key resistance level. Volume spiked significantly at both 0.882 and 0.872, confirming these levels as critical turning points. A divergence between price and volume appeared at 0.872, signaling a bearish caution.

Fibonacci Retracements

Fibonacci levels from the 0.866–0.882 move show 61.8% retracement at 0.874 and 38.2% at 0.879. Price has tested both levels multiple times, with the 0.874 level acting as a strong support. Daily Fibonacci levels from previous swings suggest 0.869 as a potential floor in the next 24 hours.

Backtest Hypothesis

A potential backtesting strategy could involve entering short positions at the 0.879–0.882 resistance zone with a stop above 0.882 and a target near 0.872. A long entry could be triggered at 0.870–0.872, with a stop below 0.868 and a target near 0.876. This strategy relies on the confirmed support/resistance levels and MACD crossovers as entry confirmation. Given the current consolidation and volume confirmation at key levels, this setup could be evaluated for short-term directional trading.