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Summary
• Price action formed a bullish recovery after hitting a 24-hour low near 0.534.
• Volume spiked during the late ET session, confirming strength in the 0.54–0.545 range.
• RSI showed signs of overbought conditions by the end of the session, suggesting caution.
• Bollinger Bands widened, indicating increased volatility and potential consolidation.
• A potential engulfing pattern formed near 0.54, hinting at possible bullish continuation.
The AC Milan Fan Token/Tether (ACMUSDT) opened at 0.539 on December 30 at 12:00 ET, hit a low of 0.534, and closed at 0.545 by 12:00 ET on December 31. Total volume reached 476,894.0 and notional turnover amounted to 260,231.69.
Structure & Formations
Price found key support near 0.534–0.536, with a strong recovery into the 0.54–0.545 range. A bullish engulfing pattern emerged around 0.54 during the early hours of December 31, signaling potential continuation. Resistance is forming at 0.545–0.547, while support is likely to hold at 0.536–0.538 in the near term.
Moving Averages
On the 5-minute chart, the 20-period and 50-period moving averages showed a bullish crossover near the 0.54 level. The daily chart suggests a longer-term bullish trend as the price remains above both the 50- and 100-period averages.
MACD & RSI
Momentum, as reflected in the MACD, showed a positive crossover late on December 30 and remained above the signal line through the session. RSI approached overbought territory near the end of the session, indicating possible near-term pullback risks.
Bollinger Bands
Bollinger Bands widened significantly in the late ET hours, suggesting a period of heightened volatility. The price closed near the upper band, which may indicate a continuation of the upward move, though consolidation is likely before a breakout.
Volume & Turnover
Volume surged above 47,000 in the 14:15–15:30 ET window, confirming strength in the 0.54–0.547 range. Turnover during that period exceeded 26,000, aligning with the price increase and supporting the validity of the bullish move.
Fibonacci Retracements
Fibonacci levels on the most recent 5-minute swing showed the 0.54–0.545 range aligning with the 38.2%–50% retracement levels, reinforcing the significance of this price band. Longer-term daily retracement levels suggest 0.535–0.54 as a critical area to watch.
The market appears poised for a potential continuation of the bullish trend, but overbought RSI levels and recent high volatility could lead to a short-term consolidation phase. Investors should monitor the 0.545–0.547 resistance zone and watch for signs of a reversal or breakout in the next 24 hours.
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