Alpine F1 Team Fan Token Market Overview (ALPINEUSDT)

• Price surged to $1.085 before correcting sharply, closing near 0.97.
• Momentum reversed after a strong bullish impulse on 15-min chart.
• High volatility and volume spikes suggest significant short-term interest.
• Downtrend appears to be consolidating near support at 0.97.
• RSI signaled overbought levels earlier, followed by a rapid correction.

Market Overview

The Alpine F1 Team Fan Token/Tether (ALPINEUSDT) opened at 0.973 on October 13, 12:00 ET-1, and traded as high as 1.085 before closing at 0.97 at 12:00 ET on October 14. The 24-hour price range was between 0.923 and 1.094. Total volume reached 9.64 million, with a turnover of approximately $9.04 million, reflecting heightened market participation during the bullish phase.

Structure & Formations

Price action revealed a strong bullish impulse with a high of 1.085 followed by a bearish reversal marked by a large bearish candle on the 15-minute chart. A potential support level appears to be forming at 0.97, where the price found temporary stability after a sharp decline. A doji formed at 1.011, indicating indecision and potential reversal.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed multiple times, indicating choppy conditions. On the daily timeframe, the 50-period MA moved above the 100-period MA briefly, but the 200-period MA remained as a strong bearish reference. This suggests that while short-term momentum is mixed, the long-term bias is bearish.

MACD & RSI

The MACD showed a golden cross early in the session, which fueled the bullish move. However, it quickly diverged as the price fell, pointing to weakening momentum. The RSI spiked into overbought territory (over 70) during the bullish phase but then collapsed, signaling exhaustion and a likely reversal. This divergence confirms a high probability of further consolidation or a bearish correction.

Bollinger Bands

Volatility expanded significantly during the bullish phase as the price traded near the upper band. Later, as the price dropped, volatility contracted, with the price moving closer to the middle band. This contraction suggests a potential break in momentum and could precede a reversal. The recent move back to the lower band reinforces the idea that price may remain under pressure in the near term.

Volume & Turnover

Volume spiked sharply during the bullish leg, with a 15-minute candle at 2345 recording over 289,000 volume and a close at 1.015. As the price corrected, volume declined, but turnover remained relatively stable, indicating ongoing interest from short-term traders. The divergence between price and volume suggests that the move higher may have been driven by speculative buying rather than strong fundamentals.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from 0.97 to 1.085, the 61.8% retracement level sits at approximately 1.026, while the 38.2% level is at 0.998. Price bounced off the 61.8% level before the sharp decline, suggesting a potential target for future support. On the daily chart, the 61.8% retracement of the larger move from 0.923 to 1.085 lies at 0.996, a key area to watch for potential bounce or breakdown.

Backtest Hypothesis

For Alpine F1 Team Fan Token (ALPINEUSDT), a viable backtesting strategy could involve using the MACD and RSI indicators to generate buy and sell signals. Specifically, an “open” signal is triggered when the MACD forms a golden cross, indicating a potential bullish trend. A “close” signal is generated when RSI reaches overbought territory (70 or above), signaling a possible reversal. Given the recent divergence between rising price and declining RSI, this strategy could have captured the sharp bullish move followed by a correction. A backtest using daily close prices from 2022 to present would provide a clearer picture of its historical efficacy and risk profile.