Market Overview for Manchester City Fan Token/Tether (CITYUSDT) – 2025-10-03

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• Price surged to 1.005 near 09:45 ET, following a consolidation phase from 0.98 to 0.993.
• Momentum appears mixed with RSI peaking at overbought levels, then retreating below 50.
• Volume spiked dramatically during the 09:45 ET candle, exceeding 105k CITYUSDT traded.
• Bollinger Bands show moderate volatility expansion, with price closing near the upper band.
• Key support at 0.985 tested and held, with a potential resistance at 0.994.

Price Action Summary

Manchester City Fan Token/Tether (CITYUSDT) opened at 0.98 on 2025-10-02 at 12:00 ET and reached a high of 1.005 by 09:45 ET on 2025-10-03, before closing at 0.986. The 24-hour trading window saw a total volume of 575,515.85 CITYUSDT and a notional turnover of approximately 569,059.21 USD. Price action shows a bullish breakout followed by consolidation, with clear signs of buyer interest at key resistance levels.

Structure & Formations

The candlestick pattern shows a strong bullish engulfing formation forming during the 22:30–23:30 ET timeframe, as price surged from 0.993 to 1.00. This is followed by a bearish reversal at 1.005, forming a potential high-point reversal pattern. Key support levels can be identified at 0.985 and 0.978, with the latter showing strong buyer interest during the 07:15–07:30 ET sell-off. Resistance is currently forming at 0.994 and 0.998, with the former showing significant rejection during the 09:30–09:45 ET session.

Moving Averages and Volatility

Using 15-minute data, the 20-period and 50-period moving averages show a bullish crossover during the 09:30–09:45 ET session, reinforcing the bullish breakout. The 50/100/200-day moving averages are not available in the dataset but would typically indicate the broader trend context. The Bollinger Bands widened significantly during the 09:45 ET candle, with price closing just inside the upper band, indicating increased volatility and a potential pause in the upward move.

Momentum and Relative Strength

The RSI peaked near 70 during the 09:45 ET candle, indicating overbought conditions, and has since fallen to a neutral range. This suggests that while bullish momentum is present, it may not yet be exhausted. MACD lines show a positive divergence during the 09:30–10:00 ET period, indicating potential continuation of the bullish trend. However, the histogram is beginning to contract, which may signal a slowdown in upward momentum.

Backtest Hypothesis

A backtest strategy that leverages the bullish breakout and subsequent consolidation could include an entry at the close of the 09:30 ET candle when the price crossed the 0.993 level, with a stop-loss placed below the 0.988 support. A take-profit could be set at 1.003, aligning with the Fibonacci 61.8% retracement of the earlier 0.98 to 1.005 move. This approach would aim to capture the short-term momentum while managing risk using defined levels. The MACD and RSI signals provide further confirmation for entries, especially during the 09:45–10:00 ET period when both indicators showed bullish divergence.