Market Overview for AC Milan Fan Token/Tether USDt (ACMUSDT)

• Price declined from 0.930 to 0.919 over 24 hours, with bearish momentum observed in later hours.
• High volume activity occurred in the 21:30–23:30 ET range, followed by consolidation.
• A bullish reversal pattern formed near 0.916–0.918, suggesting potential support.
• RSI entered oversold territory, signaling possible near-term bounce.
• Bollinger Bands expanded during the price decline, indicating increased volatility.

AC Milan Fan Token/Tether USDt (ACMUSDT) opened at 0.920 at 12:00 ET-1, reached a high of 0.940, fell to a low of 0.916, and closed at 0.918 by 12:00 ET. Total trading volume for the 24-hour period was 545,966.9 units, with a notional turnover of approximately $498,597 (calculated using price-weighted averages).

Structure & Formations

The 24-hour OHLCV data reveals a strong bearish trend from late evening into the early morning hours, with a sharp decline from 0.930 to 0.918. A potential support level forms around 0.916–0.918, marked by a series of bullish reversal candlestick patterns such as a hammer on the 09:30–09:45 ET candle and a small bullish engulfing pattern at 08:45–09:00 ET. A doji also appears at 04:00–04:15 ET, indicating indecision before the final decline.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are in a bearish crossover, reinforcing the downward trend. On the daily chart, the 50-period MA is above the 100 and 200-period lines, suggesting a medium-term bearish bias. The recent price action has not yet retested the 50-day MA, indicating it may be a potential target for a bounce or a break.

MACD & RSI

The MACD line turned negative in the early morning hours and remained below the signal line, signaling bearish momentum. The RSI indicator dropped below 30 in the last 3 hours of the period, entering oversold territory and hinting at a possible near-term rebound. However, RSI divergence is not strong, so a reversal is not yet confirmed.

Bollinger Bands

Bollinger Bands expanded significantly during the price decline, with the price moving below the lower band for several hours. This indicates heightened volatility and a potential overreaction in the bearish direction. A close above the mid-band could signal the beginning of a correction.

Volume & Turnover

Volume spiked during the 21:30–23:30 ET period, confirming the bearish move. However, volume has been lower during the consolidation phase in the last 6 hours, suggesting diminishing bearish pressure. Turnover aligned with price declines, showing strong sell-side participation during the key move down to 0.918.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from 0.940 to 0.916, the 0.924 level corresponds to 38.2% retracement, while 0.930 is the 50% level. The 61.8% level at 0.936 was tested early in the session but failed to hold. These levels may reappear as support/resistance in the next 24 hours.

Backtest Hypothesis

The backtest strategy involves entering long positions when ACMUSDT closes above the 20-period EMA on the 15-minute chart, confirmed by a bullish RSI crossover above 50 and a candlestick close above the Bollinger mid-band. Stops are placed below the 20-period EMA, and take-profit levels are set at the nearest Fibonacci 38.2% and 50% retracement levels. Given ACMUSDT's recent behavior, the setup could be retested if the RSI remains in oversold territory and volume begins to show a reversal pattern.