Market Overview for Alpine F1 Team Fan Token/Tether (ALPINEUSDT) — 24-Hour Summary

• Price opened at $1.361 and declined to a low of $1.32 before closing near $1.343.
• A bearish momentum was evident with RSI nearing oversold territory late in the session.
• Volatility expanded midday, followed by a sharp drop after 15:45 ET.
• A large-volume bearish engulfing pattern formed after 15:45 ET, signaling potential continuation.
• Turnover surged during the sharp decline, confirming bearish conviction in the last 3 hours.

At 12:00 ET on 2025-10-10, Alpine F1 Team Fan Token/Tether (ALPINEUSDT) opened at $1.361, reached a high of $1.384, fell to a low of $1.261, and closed at $1.290. Total volume across the 24-hour period was 4,736,598.9 units, with notional turnover amounting to $6,105,569.3. The market exhibited a distinct bearish trend late in the session, with a sharp drop following a large-volume candle.

Structure & Formations

Price formed a bearish engulfing pattern at 15:45 ET as the candle opened at $1.305 and closed at $1.290, confirming a shift in momentum. A doji appeared near $1.345 at 05:45 ET, hinting at indecision. Key support levels emerged around $1.32–$1.33, while resistance was seen between $1.35 and $1.36. A strong bearish trendline formed from the high of $1.384 down to $1.290, suggesting continuation of the downtrend.

Moving Averages

On the 15-minute chart, the 20-period moving average crossed below the 50-period line (death cross) around 04:00 ET, signaling bearish momentum. The daily chart showed the 50-period MA at $1.346 and the 200-period MA at $1.353, indicating the price remains below both, reinforcing a longer-term bearish bias.

MACD & RSI

The MACD crossed into negative territory after 05:00 ET and remained bearish, with a narrowing histogram in the last 3 hours. The RSI dropped to 28 late in the session, indicating an oversold condition, which may suggest a short-term bounce could be on the cards. However, without a strong reversal candle, the bearish tone may persist.

Backtest Hypothesis

The backtest strategy is based on a bearish engulfing pattern followed by a confirmed close below the 50-period moving average. A stop-loss is placed above the high of the engulfing candle, with a target set at the nearest support level. This strategy aligns with the observed bearish trend, particularly the 15:45 ET candle and subsequent move toward $1.290. The RSI’s oversold reading also supports a potential rebound, which could serve as a trigger for closing a short position.

Bollinger Bands & Volatility

Volatility expanded after 11:00 ET as the price moved from a narrow band to a wide range between $1.33 and $1.38. The 15:45 ET candle closed near the lower band, indicating bearish exhaustion. A contraction phase was observed between 06:00 and 10:00 ET, with the price trading within a tight range before breaking out.

Volume & Turnover

Volume spiked during the bearish move from $1.333 to $1.290, with the 15:45 ET candle alone accounting for 473,659.89 units of volume. Notional turnover mirrored the price action closely, with no significant divergence. The large-volume candle at 15:45 ET confirmed the bearish momentum, while the earlier doji at 05:45 ET showed limited conviction in the opposite direction.

Fibonacci Retracements

The key retracement level of 61.8% (around $1.343) was tested multiple times and held as resistance. The recent swing from $1.384 to $1.290 shows a 61.8% retracement at $1.345, which may serve as a short-term floor. If buyers fail to push past this level, the next target is the 38.2% retracement at $1.328.

Forward-Looking View

The next 24 hours may see ALPINEUSDT test the $1.32–$1.33 support range, with a potential bounce or further decline depending on volume and order flow. A break below $1.32 would suggest a more aggressive bearish phase, while a close above $1.345 could signal a short-term reversal. Investors should remain cautious due to the high volatility and potential for sharp price swings.