ALPINEUSDT Collapses After Failed Resistance Test

Summary
• Price tested key resistance at 0.534–0.535 but failed to hold.
• A bearish engulfing pattern formed near 0.532–0.533, confirming downward momentum.
• Volatility expanded after 21:00 ET, with volume spiking above 14,000.
• RSI moved below 40, suggesting moderate bearish bias but not yet oversold.
• Bollinger Bands widened significantly during the late evening session.

Alpine F1 Team Fan Token/Tether (ALPINEUSDT) opened at 0.532, reached a high of 0.537, and a low of 0.525 over the past 24 hours, closing at 0.532. Total volume was 409,657.79, with a notional turnover of 216,882.98.

Structure & Moving Averages

Price action formed a key bearish engulfing pattern near the 0.532–0.533 zone, with a failed attempt to break above 0.535. On the 5-minute chart, the 20-period and 50-period moving averages both tilted downward by 12:00 ET, reinforcing bearish pressure. The daily 50SMA and 200SMA are not provided but likely remain aligned with the short-term bearish trend.

Momentum and Oscillators

The RSI closed below 40, signaling moderate bearish momentum. MACD remained in negative territory, with a narrowing histogram suggesting a possible exhaustion of the downtrend. Price has not yet reached oversold levels, suggesting further downward moves could be in play.

Volatility and Volume

Volatility expanded significantly after 21:00 ET, with a large 5-minute candle recording over 41,000 in volume and a high of 0.537. This coincided with a sharp rise in notional turnover, indicating strong selling pressure. Volume has remained elevated above 20,000 in several late sessions, suggesting heightened interest.

Bollinger Bands and Fibonacci

Bollinger Bands widened during the peak volatility phase, with price reaching the upper band before collapsing back down. Fibonacci levels on the 0.537–0.525 swing show 0.532 aligning with the 50% retracement, and 0.529–0.530 aligning with the 61.8% level, which may offer short-term support.

Looking ahead, price may retest the 0.527–0.529 zone, with a break below 0.525 expected to trigger further bearish moves. Investors should watch for a reversal at key support levels or signs of divergence in volume and RSI as potential early signs of a recovery. As always, the market remains highly volatile and subject to sudden shifts.