Market Overview: Manchester City Fan Token/Tether (CITYUSDT)

• Price swung between 0.662 and 0.707 in 24 hours, with recent consolidation below 0.70.
• Strong intraday volatility observed post-19:00 ET, followed by a pullback below 0.695.
• RSI dipped into oversold territory briefly but failed to trigger a rebound.
• Volume increased during the bearish leg but failed to confirm a breakout below key support.
• Bollinger Bands show widening volatility early in the session followed by a contraction.

24-Hour Price Summary

Manchester City Fan Token/Tether (CITYUSDT) opened at 0.695 on 2025-10-29 12:00 ET and traded between 0.662 and 0.707 over the 24-hour period, closing at 0.666 by 12:00 ET. Total traded volume amounted to 284,326.47, with a notional turnover of approximately $189,694. The price displayed a bearish bias post-19:00 ET and struggled to maintain key resistance levels above 0.695.

Structure and Patterns

Price formed multiple bearish signals including a shooting star at 0.702 and a dark cloud cover pattern at 0.705, both suggesting a reversal in bullish momentum. A key support level appears to be forming around 0.675–0.68, with price attempting to test this area multiple times without breaking below. A bearish engulfing pattern was visible in the 15-minute chart around 04:30 ET, further signaling a shift in sentiment.

Moving Averages and Momentum

On the 15-minute chart, the price closed below the 20- and 50-period moving averages, indicating short-term bearish bias. The 50-period MA was at 0.698 and the 20-period at 0.699, both acting as overhead resistance. On the daily chart, the price is trading well below the 50-, 100-, and 200-day MAs, reinforcing the bearish trend.

The RSI(14) dipped below 30 on 05:00 ET, indicating oversold conditions, but failed to trigger a strong bounce. MACD remained negative throughout the session with bearish divergence, suggesting ongoing selling pressure.

Variance and Volume

Volatility spiked during the early part of the session with a high of 0.707, followed by a sharp decline and consolidation. Bollinger Bands showed a period of expansion from 18:30 to 20:00 ET and then contracted as the price drifted lower. Notably, the volume increased significantly during the bearish leg of the move, especially around 04:30 ET when the price broke below 0.695. This volume confirmed the bearish break, but price failed to sustain a strong move lower due to a lack of follow-through.

Backtest Hypothesis

The RSI-based strategy described in the backtest could be relevant to CITYUSDT’s recent behavior. For instance, the token traded below RSI 30 on multiple occasions, potentially offering entry points for short-term traders. While the strategy used a 3-day holding period, this could be adjusted to fit the token’s unique volatility and liquidity profile. The failure to confirm bounces from oversold levels suggests that strict exit rules may be necessary to avoid false signals in low-liquidity tokens like CITYUSDT.