Market Overview for Atletico De Madrid Fan Token/Tether (ATMUSDT)

• ATMUSDT traded in a 24-hour range of $1.371–$1.542, closing near 61.8% Fibonacci retracement.
• Price formed a bearish engulfing pattern at $1.48–$1.41 and tested prior support at $1.40.
• RSI entered oversold territory, suggesting potential rebound, while MACD turned neutral.
• Volume surged at 18:15 ET, coinciding with a 15-minute high at $1.542, indicating short-term bullish pressure.
• Bollinger Bands showed volatility expansion, with price currently near the 20-period middle band.

At 12:00 ET–1 on 2025-09-19, ATMUSDT opened at $1.391 and traded as high as $1.542 before closing at $1.377 at 12:00 ET on 2025-09-20. Total volume for the 24-hour period was 13,726,856.49 with notional turnover of $19,972,055.37. Price action showed a sharp intraday move above $1.48, followed by a reversal and a consolidation phase below key support levels.

Structure & Formations

A significant bearish engulfing pattern formed around 18:00–18:15 ET as price opened at $1.476 and closed at $1.437 after hitting a high of $1.499. This pattern, occurring at a prior resistance level, suggests a potential shift in sentiment. A doji appeared at 19:15 ET ($1.431), signaling indecision after the sharp sell-off. The key support level at $1.40 was tested multiple times, most notably at 19:45 ET and again at 23:45 ET, with mixed responses.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed below key support at $1.40, confirming a bearish bias. On a daily basis, the 50-period MA sits at $1.445 and is currently above the 200-period MA at $1.410, suggesting a short-term bearish tilt in the broader trend.

MACD & RSI

The 15-minute MACD line crossed below the signal line at 19:00 ET and remained negative, confirming bearish momentum. RSI reached 30 at 08:30 ET, signaling potential oversold conditions and possibly a near-term bounce from $1.371. However, divergence between RSI and price in the late hours suggests caution.

Bollinger Bands

Bollinger Bands widened between 18:15–19:30 ET, reflecting heightened volatility. Price action closed below the 20-period middle band at $1.442, suggesting bearish pressure continues. A rebound above the upper band would require significant buying interest.

Volume & Turnover

Volume peaked at 18:15 ET at 311,453.88 with a notional turnover of $467,478.56, reflecting strong short-term bullish momentum. However, volume dropped to below 10,000 at 06:00–07:00 ET, indicating fading interest. A notable divergence appeared between price and volume in the early morning hours, with price falling while volume remained low—suggesting a potential lack of follow-through.

Fibonacci Retracements

Applying Fibonacci retracements to the 15-minute swing from $1.40–$1.542, the 61.8% level at $1.445 was tested multiple times, with failure to hold it reinforcing bearish bias. The 38.2% level at $1.422 acted as a temporary support before the price continued downward. On the daily chart, the 50% retracement of the previous week sits at $1.416 and may offer near-term support.

Backtest Hypothesis

The backtest strategy involves entering long positions when RSI dips below 30 and closes above the 20-period moving average, while short positions are triggered when RSI rises above 70 and price closes below the 50-period moving average. Stops are placed at the nearest Fibonacci level. Given the current RSI in oversold territory and the 20-period MA at $1.422, this strategy would favor a long entry if price breaks above that level. The recent bearish engulfing pattern, however, suggests a higher risk of a false signal if the trend remains intact.

Forward Outlook

ATMUSDT may consolidate near $1.375–$1.40 before attempting a test of the 20-period MA as support. A decisive close above $1.422 could reinvigorate bullish sentiment, while a breakdown below $1.365 would signal deeper bearish pressure. Investors should remain cautious as divergence in momentum indicators and mixed volume patterns suggest increased volatility is likely in the next 24 hours.