Manchester City Fan Token/Tether USDt Market Overview

• Price surged to 1.062 before retracting to 1.036, forming key support and resistance clusters.
• Strong buying pressure in early NY session followed by consolidation.
• RSI indicates overbought conditions near peak; divergence in volume suggests caution.
• Volatility expanded during breakout attempts, with Bollinger Bands showing recent widening.
• MACD remains positive but weakening, signaling potential momentum exhaustion.

Manchester City Fan Token/Tether USDt (CITYUSDT) opened at 1.037 on 2025-09-10 12:00 ET and reached a high of 1.062 by 2025-09-11 06:45 ET, before closing at 1.055 by 2025-09-11 12:00 ET. The pair recorded a 24-hour trading volume of 1,482,593.14 and a notional turnover of 1,564,489.67 USD.

Structure & Formations

The 24-hour OHLCV data highlights a bullish breakout followed by consolidation. A key resistance level formed at 1.060–1.062, while 1.040–1.042 emerged as a strong support cluster. Notable candlestick patterns include a large bullish engulfing pattern near the high and a hanging man formation during the retest of 1.055. A doji near 1.050 suggests indecision among buyers and sellers.

Moving Averages

On the 15-minute chart, the 20-period MA rose above the 50-period MA, signaling a short-term bullish bias. On the daily chart, the 50-period MA remains above the 200-period MA, suggesting medium-term strength. Price closed above the 50-period MA, which may reinforce a continuation of the upward trend.

MACD & RSI

The MACD line remains in positive territory but is flattening, indicating waning bullish momentum. The signal line crossed above the MACD line during the initial rally, confirming the move higher. However, the RSI reached overbought territory near 70, suggesting a potential pullback. A divergence between price and RSI at 1.062 may signal caution ahead.

Bollinger Bands

Volatility expanded significantly during the breakout phase, pushing price near the upper band. The bands widened to 0.034 during the peak and have since contracted slightly, indicating a potential consolidation phase. Price remains within the bands but near the upper limit, hinting at short-term overbought conditions.

Volume & Turnover

Volume spiked during the 06:30–07:15 ET window, coinciding with the high of 1.062. Turnover also reached its peak during this period, supporting the legitimacy of the move. However, volume has since declined, and price has not broken back above 1.062 with confirmation, suggesting a lack of conviction in the rally. A volume-based divergence may foreshadow a near-term reversal.

Fibonacci Retracements

Key Fibonacci levels for the 15-minute swing include 38.2% at 1.052 and 61.8% at 1.046. Price retested the 38.2% level before stalling. For the daily chart, the 61.8% retracement is at 1.050, and price is currently approaching this area. A break above this level could target the 78.6% at 1.056, while a retest of the 50% at 1.049 may offer another key pivot.

Backtest Hypothesis

A potential backtesting strategy could involve entering long on a bullish engulfing pattern near key Fibonacci support levels, with a stop below the most recent swing low. An initial target could be set at the next Fibonacci resistance level, and a trailing stop could be used to lock in profits as the RSI remains in overbought conditions. This strategy would benefit from a clear price-volume confirmation and a valid breakout above key resistance. The recent doji at 1.050 suggests a potential entry zone, but caution is warranted given the divergence in momentum indicators.