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

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• Price opened at 1.923, peaked at 1.950, and closed at 1.908, with bearish momentum intensifying in the final hours.
• RSI dropped below 30 signaling oversold conditions, while volume spiked during the sharp decline after 12:00 ET.
• Bollinger Bands widened during the 20:00–24:00 ET sell-off, reflecting heightened volatility and distribution pressure.
• A large bearish engulfing pattern formed between 06:30–07:45 ET, confirming downward capitulation.

At 12:00 ET on 2025-09-11, Alpine F1 Team Fan Token/Tether USDt (ALPINEUSDT) opened at 1.923 after a 24-hour high of 1.950 and a low of 1.837. The price closed at 1.908, with total volume at 250,783.66 and turnover at $482,466.06, reflecting a volatile and bearish 24-hour session.

Structure & Formations

Price action over the 24-hour period showed a distinct bearish reversal after a brief bullish breakout in the evening (ET). A bearish engulfing pattern formed on the 15-minute chart between 06:30–07:45 ET, with a large candle that opened at 1.908 and closed at 1.890—confirming downward capitulation. Key support levels have formed at 1.900–1.908, while resistance is visible at 1.930–1.934. A doji appeared at 05:45 ET, suggesting indecision and possible short-term consolidation.

Moving Averages and MACD/RSI

The 20-period and 50-period moving averages on the 15-minute chart have converged downward, reflecting bearish bias. MACD lines turned negative after 18:00 ET, with the histogram widening, indicating increasing bearish momentum. The RSI dropped below 30 for much of the session, signaling oversold conditions, although it did not remain there long enough to confirm a strong bullish bounce.

Bollinger Bands have widened significantly since 20:00 ET, reflecting increased volatility during the sell-off. Price has remained near the lower band for much of the last 6 hours, suggesting continued distribution and bearish exhaustion.

Volume & Turnover

Volume surged after 12:00 ET with the sharp sell-off, particularly in the 12:15–12:45 ET timeframe when price dropped from 1.917 to 1.887. Notional turnover exceeded $100,000 in that 30-minute span, indicating aggressive shorting or profit-taking from longs. A divergence between price and volume was observed after 05:00 ET, with volume declining while the price continued downward, suggesting waning bearish conviction.

Fibonacci Retracements

Key Fibonacci levels for the recent 15-minute bearish move from 1.950 to 1.837 include 38.2% at 1.905 and 61.8% at 1.889. Price has stalled near the 61.8% level, with potential for a bounce or consolidation before resuming the downward trend. On the daily chart, the 38.2% retracement sits at 1.921 and could act as a near-term support or trigger renewed selling pressure if broken.

Backtest Hypothesis

The backtest strategy proposes entering short positions after a 15-minute bearish engulfing pattern forms below a key moving average, with a stop loss placed just above the engulfing high and a target set at the 61.8% Fibonacci retracement of the preceding bullish swing. This aligns with the recent 06:30–07:45 ET engulfing pattern, which formed below the 50-period MA and triggered a swift 4.5% move. The strategy assumes bearish momentum will continue unless volume begins to confirm a reversal, as seen in the doji and divergences in the latter half of the session.