Market Overview for Alpine F1 Team Fan Token/Tether (ALPINEUSDT)

Summary
• Price declined from 0.606 to 0.582, forming bearish engulfing and hanging man patterns near key resistance.
• RSI entered oversold territory below 30, suggesting potential near-term reversal.
• Volume surged during the downward move, confirming bearish momentum.
• Price consolidated within Bollinger Bands after a volatility expansion following the 0.598 support break.
• Fibonacci 61.8% level at 0.586 may offer initial support ahead of 0.582.

Alpine F1 Team Fan Token/Tether (ALPINEUSDT) opened at 0.600 on January 11, reached a high of 0.606, and closed at 0.586 by 12:00 ET on January 12, with a low of 0.580. Total 24-hour volume was 961,776.95 and turnover amounted to $564,391.75.

Structure & Formations

Price broke through the 0.598 support level with a bearish engulfing pattern and continued lower, forming a hanging man at 0.602. Key support appears to be forming at 0.582–0.586, which aligns with the 61.8% Fibonacci level from the recent swing high. Resistance is likely to remain around 0.598–0.602 in the near term.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages are both bearish, with price consistently below both. On the daily timeframe, the 50-period MA is around 0.594, while the 200-period MA is at 0.591, suggesting a potential near-term bounce may struggle to hold momentum without a clear break above these levels.

MACD & RSI

MACD turned negative, reinforcing bearish momentum, while RSI dipped below 30 into oversold territory, suggesting short-term buying interest may emerge. However, without a clear reversal candle or bullish divergence, the risk remains that sellers continue to dominate.

Bollinger Bands

Volatility expanded following the breakdown of 0.598, with price moving from the upper band to the lower band over 24 hours. Current consolidation around 0.585 suggests a temporary pause in selling pressure, but a move back into the band's upper half could indicate renewed buyer interest.

Volume & Turnover

Volume spiked significantly during the breakdown of 0.598 and again during the drop to 0.580, confirming bearish conviction. Turnover also increased in line with price declines, showing no divergence between price and volume. This suggests that selling pressure is still intact and not likely to reverse in the immediate term.

Fibonacci Retracements

The 61.8% Fibonacci level is currently at 0.586 and may act as a key support zone. If price continues lower, the 38.2% level at 0.593 could offer a short-term target for a potential rebound. On the daily chart, the 50% retracement from the recent range is at 0.599, which may act as a psychological pivot.

In the next 24 hours, a test of 0.586–0.582 appears likely, with a potential bounce into the 0.593–0.596 range contingent on a confirmed reversal. Traders should remain cautious of further downside risk should support levels break, especially given the bearish momentum in both price and volume.