Market Overview for Alpine F1 Team Fan Token/Tether (ALPINEUSDT)

• ALPINEUSDT dropped 16.7% in the past 24 hours, closing at 1.419 after a sharp selloff from 1.53.
• Momentum turned bearish with RSI below 30 and a bearish crossover in MACD.
• Volatility expanded early in the selloff, with price falling below the 20-period MA.
• Volume spiked during the 1.4–1.43 range, confirming bearish strength.
• A potential 1.30–1.35 support zone may test market sentiment in the next 24 hours.

24-Hour Market Summary

At 12:00 ET on 2025-10-03, ALPINEUSDT opened at 1.521, reached a high of 1.53, and closed at 1.419 after falling to a low of 1.304. Total volume over the period was 20,724,394.65, with a notional turnover of approximately $29,804,994. The price action showed a sharp, sustained bearish trend after a large-volume candle at 10:15 ET triggered a breakout to the downside.

Structure and Formations

The 24-hour price structure displayed a bearish breakdown from a key resistance level at 1.52–1.53, followed by a fast 1.4–1.43 pullback. A notable bearish engulfing pattern formed at 1.45–1.43, confirming the shift in sentiment. A key support area around 1.30–1.35 has now come into focus, with a possible bounce or breakdown expected. A doji formed near 1.385–1.375, suggesting indecision and potential for a short-term reversal or continuation.

Moving Averages and Bollinger Bands

The 20-period MA crossed below the 50-period MA, reinforcing bearish momentum. Price fell below the 20 MA early in the selloff and remained there. Bollinger Bands widened significantly during the selloff, indicating increased volatility. Price has now settled near the lower band of the 20-period Bollinger channel, suggesting potential for a mean retest or further bearish expansion.

MACD and RSI Analysis

MACD turned negative and showed a bearish crossover, confirming the downward move. The histogram expanded during the selloff, indicating strong bearish momentum. RSI dropped below 30, entering oversold territory, but has not shown a strong rebound, suggesting weak buying pressure. A close above 1.43 could bring RSI back into neutral, while a drop below 1.30 may trigger a deeper oversold condition.

Volume and Turnover Dynamics

Volume surged during the key breakdown at 1.4–1.43, reaching over 1.46 million at 10:15 ET, confirming bearish strength. Turnover spiked to nearly $2.05 million at that time. A divergence appeared in the second half of the session: price continued to fall, but volume declined, indicating fading bearish conviction. This could hint at a possible reversal if price stabilizes near key support levels.

Fibonacci Retracements

Applying Fibonacci to the recent swing from 1.53 to 1.304, the 61.8% retracement level is around 1.412–1.415, where price closed near 1.419. A break below 1.304 would target the next Fibonacci level at 1.273. On the 15-minute chart, the 61.8% retracement from the 1.52–1.385 swing is 1.446, which now acts as resistance.

Backtest Hypothesis

A potential backtest strategy could involve using a 20-period EMA crossover with a RSI filter. A long entry might be triggered when the 20-period MA crosses above the 50-period MA and RSI rises above 40, while a short entry could be signaled on the opposite crossover and RSI below 60. Given the recent bearish confirmation and RSI in oversold territory, a wait for a reversal above 1.43 could be used to filter short-term bounces before re-engaging a bearish bias.