Summary
• Price surged on 19:45 ET candle, breaking above 0.556 before consolidating near 0.56.
• Volume spiked on the 0.562–0.563 range, suggesting accumulation or distribution activity.
• RSI showed overbought conditions around 0.568, followed by bearish reversal on 14:45 ET candle.
• Key support tested at 0.555–0.557 with mixed follow-through, indicating possible near-term range trading.
• Bollinger Bands widened as volatility increased during the initial rally from 0.55 to 0.568.
AC Milan Fan Token/Tether (ACMUSDT) opened at 0.555 on December 6 at 12:00 ET, reached a high of 0.579, and closed at 0.555 as of 12:00 ET on December 7. The 24-hour volume was 802,471.3 with a notional turnover of $444,874. Price experienced a strong rally into the 0.56–0.57 range before retreating under bearish pressure.
Structure & Formations
A bullish engulfing pattern emerged on the 00:15–00:30 ET candles as ACMUSDT moved from 0.560 to 0.558. Later, a bearish harami appeared on the 14:45–15:00 ET session as the price closed at 0.557 after opening at 0.567. The 0.555–0.557 area has functioned as a key support zone, with multiple retests and failed breakdowns.
Moving Averages
Short-term moving averages on the 5-minute chart (20/50) showed ACMUSDT trending above the 50-period line during the early rally, but dipped below during the 14:45–15:00 ET correction. Daily moving averages (50/100/200) are more aligned, with the 50-day line at 0.560 offering resistance ahead.
Momentum and Indicators
The RSI hit overbought territory at 70 during the 10:15–10:30 ET rally to 0.567 and has since retraced toward neutral levels. MACD showed a bearish crossover during the 14:45–15:00 ET candle, confirming the selloff. Bollinger Bands expanded during the initial 0.55–0.568 move, then contracted slightly during consolidation, suggesting potential for renewed directional bias.
Volume and Turnover
Volume spiked during the 00:15–00:45 ET period as ACMUSDT moved into the 0.56–0.562 range, suggesting accumulation. Later, a large bearish candle on 14:45–15:00 ET saw high volume and turnover, indicating strong distribution. Price and turnover appeared to align during the selloff, reducing uncertainty in the short term.
Fibonacci Retracements
A key 61.8% retracement level appears at 0.555–0.557, which ACMUSDT has tested twice without breaking below. The 38.2% level at 0.563–0.565 has shown resistance, especially on the 10:15–10:30 ET and 14:45–15:00 ET candles.
ACMUSDT may test the 0.555–0.557 level again for support over the next 24 hours, with a possible rebound or breakdown if volume picks up. Traders should be cautious about diverging momentum signs and monitor the 50-day moving average for potential directional bias.
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