Market Overview for Santos FC Fan Token/Bitcoin (SANTOSBTC)

• SANTOSBTC drifted lower over 24 hours with bearish momentum intensifying in afternoon trading.
• Key support tested at 1.567e-05 with no notable rejection, indicating increased bear pressure.
• Bollinger Band contraction observed in early morning, followed by a break lower.
• Volume spiked during a sharp decline in late afternoon ET, confirming bearish bias.
• MACD turned negative, with RSI approaching oversold territory, suggesting possible short-term rebound.

Santos FC Fan Token/Bitcoin (SANTOSBTC) opened at 1.596e-05 on 2025-10-09 12:00 ET, reaching a high of 1.608e-05 and a low of 1.551e-05 before closing at 1.559e-05 at 12:00 ET on 2025-10-10. Total volume for the 24-hour period was 8,939.35, with a notional turnover of ~1.40 BTC-equivalent.

The 24-hour chart shows a clear bearish trend, especially during the mid to late afternoon session, where a sharp decline of over 300 basis points unfolded. Price action suggests a breakdown from a prior consolidation range, with 1.567e-05 now acting as a critical support level. Several bearish candlestick formations, including a shooting star and a hanging man, appeared near the top of the range before the breakdown. A large bearish candle on 2025-10-09 18:45 ET confirmed the bearish bias, with volume spiking to 1,741.74.

Moving averages on the 15-minute chart show SANTOSBTC trading below its 20- and 50-period SMAs, reinforcing the near-term bearish bias. On the daily chart, the price is also below the 50, 100, and 200-day SMAs, suggesting a longer-term downtrend is in place. RSI has dropped below 30, signaling potential oversold conditions, while the MACD line has crossed below the signal line, forming a bearish crossover.

Bollinger Bands tightened in the early hours of the morning before expanding during the sharp sell-off, a typical sign of a breakout or breakdown. Price has remained near the lower band since the late afternoon, indicating continued volatility and risk of further downside. Fibonacci retracement levels from the recent high to the low suggest key areas of interest at 38.2% (1.577e-05) and 61.8% (1.567e-05), with the latter currently being tested.

The breakdown in volume and price during the late afternoon ET session indicates a lack of buyers at lower levels. Notional turnover spiked during the selloff, confirming bearish conviction. However, the absence of volume on the subsequent rally suggests the rebound is weak and could face resistance at the 1.574e-05 level. Investors should monitor whether price holds above 1.567e-05 or if further downside breaks this key level. A failure to stabilize could trigger a larger bearish move toward 1.55e-05.

Backtest Hypothesis
A potential trading strategy could involve entering short positions on a confirmed breakdown below the 1.567e-05 support level, with a stop-loss placed above the 1.574e-05 resistance. The target could be set at the 1.55e-05 level, representing a 1.1% move. The strategy would aim to leverage the bearish momentum observed during the 24-hour period. Given the current RSI reading and low volume on the rebound, this setup appears to align with classic bearish continuation patterns. Traders may consider using a 15-minute chart for entry confirmation and a daily chart for risk management.