Market Overview for Ampleforth Governance Token (FORTHUSDT)

• Price declined from $2.463 to $2.432 over 24 hours amid bearish momentum and high volume in the early morning.
• Notable resistance appears near $2.44–$2.45, while support holds at $2.42–$2.43 with a key 52-week low at $2.39.
• RSI and MACD indicate overbought conditions reversed midday, signaling a possible short-term bearish shift.
• Volatility expanded from 2.42% to 2.47% with Bollinger Bands widening, indicating increased uncertainty.
• A bullish engulfing pattern failed to materialize near $2.45, suggesting sellers regained control.

Market Overview

Ampleforth Governance Token (FORTHUSDT) opened at $2.456 on 2025-08-05 at 12:00 ET and traded as high as $2.471 before closing at $2.432 by 12:00 ET the next day. The 24-hour low was $2.415. Total trading volume amounted to 77,138.84 FORTH, with a notional turnover of approximately $194,326.

Structure & Formations

The 15-minute chart shows a key resistance cluster forming between $2.44 and $2.46, with failed breakouts and bearish rejection candles. A potential support floor appears near $2.42, holding during several dips. A bearish engulfing pattern formed around 05:45–06:00 ET as the price fell from $2.43 to $2.42, signaling a shift in momentum. A bullish hammer was seen near $2.45 but failed to follow through, indicating weak conviction from buyers.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both trending downward, reinforcing the bearish bias. Price remains below both. On the daily chart, the 50-period MA is at $2.44, while the 100- and 200-period MAs sit at $2.43 and $2.42 respectively, suggesting the token is consolidating near its medium-term support.

MACD & RSI

The MACD crossed below the signal line around 06:00–07:00 ET, indicating bearish momentum. RSI moved into oversold territory in the early hours of 2025-08-06, reaching as low as 28 before rebounding slightly. This suggests potential short-term buyers may enter if price stabilizes. However, the RSI’s slow recovery suggests momentum remains weak, and a prolonged consolidation phase may follow.

Bollinger Bands

Bollinger Bands expanded significantly from 2.42% to 2.47% during the early morning, reflecting increased volatility. Price has traded near the lower band for much of the session, indicating a potential oversold condition. A break above the upper band of $2.45 could signal renewed bullish interest, but this requires confirmation from volume and RSI.

Volume & Turnover

Trading volume spiked in the early hours of 2025-08-06, with the largest 15-minute candle at 06:00–06:15 ET seeing 9,855.38 FORTH traded. This coincided with a sharp decline from $2.438 to $2.419, suggesting a significant shorting event. Turnover followed a similar pattern, with the highest turnover of $10,374 occurring during that same candle. Price and turnover appear to be aligned during this move, suggesting genuine conviction from sellers.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from $2.463 to $2.415, the 61.8% level is at $2.433. This level has held as support on multiple occasions and may be critical for near-term buyers. If the price breaks below $2.42, the next support level to watch is at $2.412 (78.6% retracement). On the daily chart, the 50% retracement from the 52-week range is at $2.42, which aligns with the current consolidation zone.

The next 24 hours could see a test of the $2.42–$2.43 support range, with the potential for a bounce if buyers emerge. A breakdown below $2.415 may trigger further downside. Investors should watch for divergence between price and volume, which could indicate exhaustion in either direction.