Market Overview: Acala Token/Tether (ACAUSDT) on 2025-09-20

• Price drifted lower on declining momentum, with a 24-hour low of $0.0283.
• Key support at $0.0286 tested multiple times, showing limited bearish rejection.
• Volatility expanded during the Asian session, with volume spiking at 13:00 ET.
• Overbought conditions cleared in RSI, but no clear bullish divergence seen.
• Bollinger Bands widened, indicating increased uncertainty ahead of a potential reversal.

Acala Token/Tether (ACAUSDT) opened at $0.0289 on 2025-09-19 at 12:00 ET, reached a high of $0.0293 and a low of $0.0283, and closed at $0.0289 by 12:00 ET on 2025-09-20. Total volume was 15.9 million tokens, while notional turnover reached $452,742. A bearish bias took hold during the overnight and Asian sessions before modest recovery occurred in the early Americas time.

Structure & Formations

Price action over the 24-hour period showed a bearish structure, with a critical low forming at $0.0283 during the Asian session. This level acted as a temporary floor for three consecutive 15-minute candles, with a small hammer pattern forming at 13:00 ET. A subsequent pullback confirmed limited bearish conviction, as price rebounded above $0.0286. Notable bearish engulfing patterns were observed between 19:30–21:30 ET on the 15-minute chart, reinforcing the bearish momentum.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both showed a bearish crossover late in the overnight session, with the 20 MA dipping below the 50 MA. This confirmed a short-term bearish bias, which continued until a retest of the 50 MA occurred in the early Americas session, with price hovering just above it. On the daily chart, the 50/100/200 MA structure suggested a neutral to slightly bearish bias, with price closing near the 50 MA.

MACD & RSI

The MACD remained negative throughout the session, with the MACD line staying below the signal line and narrowing as the Asian session progressed. This indicated a slowdown in bearish momentum. The RSI dropped into oversold territory at $0.0284, reaching as low as 28 before recovering to 52 by the close. No clear bullish divergence was seen, but the RSI low may signal a short-term floor.

Bollinger Bands

Bollinger Bands expanded significantly during the Asian session, with a low at $0.0283 breaking below the lower band. Price spent much of the session within the band, with a modest re-entry toward the middle band in the final hours. The widening of the bands suggests increased volatility and uncertainty, but with no clear breakout confirmed.

Volume & Turnover

Volume and turnover were both elevated during the Asian session, particularly at the formation of the $0.0283 low, with over 2.8 million tokens traded on a turnover of $79,700. Volume declined in the Americas session, aligning with the bearish momentum slowdown. A divergence between price and volume was noted between 09:00–11:00 ET, where price declined but volume remained moderate, suggesting limited conviction.

Fibonacci Retracements

Applying Fibonacci to the recent 15-minute swing from $0.0293 to $0.0283, the 38.2% retracement level aligned with $0.0288, which held through much of the session. The 61.8% level at $0.0286 was tested multiple times and acted as a key support. On the daily chart, a retracement of the broader $0.0283–$0.0293 move would place key levels at $0.0287 and $0.0290, both of which may be tested in the next 24 hours.

Backtest Hypothesis

The backtest strategy described focuses on using 15-minute RSI divergence and volume confirmation to signal potential short-term reversals. When RSI enters oversold territory and volume spikes, the strategy assumes a short-term bounce is more likely, especially if price remains above the 50-period MA. Given the recent bearish structure and RSI bottoming at $0.0284, this strategy could be used to identify a potential short-term entry for a bullish trade with a stop-loss below $0.0283. However, the lack of a confirmed bullish divergence and weak volume on the rebound suggests this may be a low-conviction trade.