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

Summary
• Price surged from 0.581 to 0.597 on 24-hour 5-min data, forming bullish engulfing and bullish continuation patterns.
• RSI peaked above 70, suggesting overbought conditions, while MACD remained positive with narrowing histogram.
• Volume spiked sharply during 05:30–06:00 ET, confirming the break above 0.596 as a potential short-term resistance.
• Bollinger Bands expanded in late hours, with price closing near the upper band, indicating rising volatility.
• Fibonacci 61.8% level near 0.597 is now in play as key resistance following the early morning rally.

At 12:00 ET on December 24, ALPINEUSDT opened at 0.581, hit a high of 0.602, a low of 0.581, and closed at 0.585 by 12:00 ET on December 25. Total 24-hour volume was 843,226.16, with notional turnover reaching $504,923.

Structure & Formations

Price rallied sharply from 0.581 to 0.597 in early morning trading, forming multiple bullish engulfing patterns as demand intensified. A key 5-minute bullish engulfing appeared at 05:30 ET, confirming the break of 0.596. The session closed with a long upper wick near 0.602, suggesting selling pressure emerged after the rally, forming a potential bearish rejection pattern.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages are closely aligned near 0.587, with price currently above both, suggesting a short-term bullish bias. On the daily chart, the 50-period MA is at 0.588, and the 200-period MA is at 0.579, indicating a positive divergence and potential for further gains.

Momentum and Indicators

The RSI reached overbought territory above 70 during the morning surge, but failed to maintain a strong level, now retreating to mid-60s. MACD remained positive but with a narrowing histogram, signaling potential momentum exhaustion.

Volatility and Bollinger Bands

Bollinger Bands expanded during the early morning rally, with price reaching the upper band at 0.597. This expansion reflects increased volatility, though a return to the mid-band in afternoon trading suggests consolidation.

Volume and Turnover

The heaviest volume occurred during the 05:30–06:00 ET window, coinciding with the break of 0.596 and the high at 0.602. Notional turnover increased in line with price action, offering confirmation of the rally. However, declining volume in the latter half of the session may indicate fading conviction.

Fibonacci Retracements

The 61.8% Fibonacci retracement level at 0.597 has been tested multiple times, with price briefly breaking through before retreating. A sustained move above 0.602 could see a test of the 78.6% retracement at 0.608, though this remains speculative.

Outlook and Risk Note

The 0.587–0.596 range is now a key battleground, with potential for consolidation or renewed buying interest if 0.596 holds. A break below 0.585 could bring support at 0.582 into play. Investors should remain cautious as momentum has weakened and overbought conditions may invite profit-taking.