Market Overview for Atletico De Madrid Fan Token/Tether (ATMUSDT)

• ATMUSDT declined 5.3% in 24 hours, with bearish momentum and price below key moving averages.
• Volatility expanded in early hours, while volume surged during sharp declines.
• Bollinger Bands show price at lower band, with a potential for a bounce or breakdown.
• RSI indicates oversold conditions, suggesting a short-term rebound may be likely.
• A bearish engulfing pattern formed late in the session, signaling potential for further downside.

At 12:00 ET on 2025-09-25, ATMUSDT opened at 1.299, reached a high of 1.328, and fell to a low of 1.244, closing at 1.247. Total 24-hour volume was 2,386,690.68, and notional turnover was 2,964,887.97. Price action shows a pronounced bearish shift amid increasing bearish conviction and declining liquidity support.

Structure & Formations

The price of ATMUSDT formed a bearish engulfing pattern during the session’s final hour, confirming a shift in momentum. Key support levels were observed around 1.244 and 1.239, while resistance levels were noted at 1.26–1.265. A strong bearish breakout from a bullish consolidation range suggests continued pressure toward the next key support at 1.239. A doji appeared at the start of the decline, signaling indecision before the downward move accelerated.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs crossed bearishly, with price under both and trending lower. The daily chart also shows a bearish crossover of the 50/100/200-day SMAs, indicating a broader bearish bias. The price remains below the 200-day SMA, which is a strong bearish signal for long-term sentiment.

MACD & RSI

The MACD turned bearish with a negative histogram, confirming the downward momentum. RSI dipped into oversold territory at the session’s close, hinting at a potential short-term bounce. However, the divergence between RSI and price during the mid-session rally suggests caution. The RSI could fail to generate a strong reversal if the bearish trend remains intact.

Bollinger Bands

Volatility expanded as the Bollinger Bands widened during the sharp decline, indicating a period of high uncertainty. Price closed near the lower band, which may act as a temporary support level. A break below the lower band could trigger an acceleration in the downward move. The recent expansion suggests that traders should monitor for a retest of the lower boundary as a potential setup for a short-term bounce.

Volume & Turnover

Volume surged during the sharp drop, confirming the bearish move. The highest volume was recorded in the early morning session when price fell below key support levels. Notional turnover aligned with volume, with spikes corresponding to price declines. The divergence between volume and price during the mid-session rally may indicate a lack of conviction in buyers, reinforcing bearish bias.

Fibonacci Retracements

Applying Fibonacci to the most recent 15-minute swing, key retracement levels of 38.2% (1.261) and 61.8% (1.244) are now acting as significant barriers. The 61.8% level was recently tested and failed, suggesting that further bearish pressure may take the price toward the 1.239 level. On the daily chart, the 50% retracement level is at 1.263 and could offer resistance if a short-term bounce occurs.

Backtest Hypothesis

A potential backtesting strategy could focus on short trades triggered by a bearish engulfing pattern and a break below the 61.8% Fibonacci level, with a stop-loss above the 20-period SMA. A target could be set at the next key support level at 1.239, with a time frame of up to four hours to confirm the move. This approach aligns with the observed bearish momentum and could be tested using historical 15-minute data over the past 30 days.