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

• ATMUSDT opened at $1.267, reached $1.270 high, and closed at $1.228 with a low of $1.207.
• A sharp 24-hour decline of ~1.7% indicates bearish momentum and a shift in sentiment.
• Volume surged during the selloff, with a total of 256,054.25 traded units and $299,902.51 turnover.
• Price retested key Fibonacci levels and 50-period moving averages, showing rejection.
• RSI entered oversold territory below 30, suggesting potential short-term bounce or consolidation.

The 24-hour period for ATMUSDT, from 12:00 ET-1 (2025-10-21 12:00 ET) to 12:00 ET (2025-10-22 12:00 ET), showed a bearish bias with price falling from an open of $1.267 to a close of $1.228. The high and low for the period were $1.270 and $1.207, respectively. Total traded volume was 256,054.25 units, with a notional turnover of approximately $299,902.51, indicating active trading during the decline. The price action suggests a breakdown of key support levels and a possible continuation of bearish momentum.

Structure & Formations

Key support levels were tested around the $1.23–$1.24 range, with price dropping below these levels into $1.207. A notable bearish pattern occurred on the 15-minute chart around 14:30 ET with a large bearish candle showing a rejection at that level. The move down was supported by a strong bearish engulfing pattern following a prior bullish signal, indicating a shift in sentiment. No strong reversal patterns emerged during the 24-hour period, with price action remaining under pressure.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were both above price for most of the period, confirming the bearish trend. On the daily chart, the 50-period and 100-period moving averages were crossed, with price currently below both. The 200-period MA also appears to be acting as a strong bearish bias, with the price continuing to trend downward. This reinforces the idea of a short-term continuation of the bearish move.

MACD & RSI

The MACD line remained below the signal line for the majority of the 24-hour period, with negative divergence suggesting ongoing bearish momentum. The histogram showed a broadening bearish bias, with no signs of a reversal. The RSI has entered oversold territory, dropping below 30, which could indicate a potential bounce or consolidation phase. However, without a strong reversal candle or volume confirmation, the oversold reading is more likely to signal a temporary pause rather than a full reversal.

Bollinger Bands

Price has moved significantly below the lower Bollinger Band for most of the period, indicating high volatility and a strong bearish bias. The narrowing of the bands earlier in the session suggested a consolidation phase before the sharp breakdown. Now, the wide bands reflect the heightened volatility associated with the selloff. Price is currently hovering near the lower band, which could provide a short-term support level for potential bounces.

Volume & Turnover

Volume increased sharply during the selloff, especially after the breakdown of key support levels, confirming the bearish move. Notional turnover rose in tandem with price declines, indicating strong participation from sellers. There was a divergence between price and volume around 07:30 ET when price showed a slight recovery but volume remained muted, suggesting weak buyer interest. Overall, the volume profile supports the continuation of the bearish trend.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute swing from $1.270 to $1.207, price broke below the 61.8% level at around $1.225, indicating a strong continuation of the bearish trend. On the daily chart, the breakdown from the $1.26–$1.27 range has taken the price below the 61.8% Fibonacci retracement level of a prior bullish move, confirming a bearish scenario. The 38.2% level at $1.24 may act as a near-term resistance, and a close above that could indicate a short-term pause in the selloff.

Backtest Hypothesis

A potential backtesting strategy based on the recent bearish engulfing pattern and confirmation from RSI and MACD could be to short ATMUSDT at the open following a confirmed Bearish Engulfing pattern. To manage risk and optimize returns, one could exit the short position after a fixed 5-day holding period or at a 3% profit target with a 2% stop-loss level. Given the current bearish momentum and RSI in oversold territory, this strategy could be tested for effectiveness in similar market conditions. It would be important to apply this to a larger dataset of ATMUSDT and assess performance over multiple cycles to determine robustness.