Market Overview for Manchester City Fan Token/Tether (CITYUSDT)

• Price declined from 1.084 to 1.043, forming a bearish trend with moderate volatility.
• RSI approached oversold territory, while volume dipped in the final hours.
• Key support emerged around 1.045, with bearish engulfing patterns observed.

The Manchester City Fan Token/Tether (CITYUSDT) opened at 1.08 on 2025-09-14 12:00 ET and closed at 1.043 by 12:00 ET on 2025-09-15. The pair touched a high of 1.087 and a low of 1.036 during the 24-hour period, with total volume of 1,601,276.64 and notional turnover of 1,678,466.65.

Structure & Formations

The chart showed a clear bearish trend, with CITYUSDT forming a descending channel. A bearish engulfing pattern appeared around 1.051 (2025-09-15 06:00), confirming a shift in sentiment. A doji formed near 1.045 (2025-09-15 12:30), indicating indecision. Key support levels developed at 1.045 and 1.036, while resistance is expected at 1.052 and 1.057.

Moving Averages

On the 15-minute chart, the 20- and 50-period SMAs crossed bearishly, reinforcing the downtrend. For daily analysis, the 50- and 200-day SMAs are diverging, with the 200-day SMA acting as a long-term resistance at ~1.06–1.065.

MACD & RSI

The MACD histogram showed bearish momentum expansion in the early hours of 2025-09-15, followed by contraction as the pair approached support. RSI dipped into oversold territory below 30 by 12:30 ET, suggesting a potential short-term bounce could follow.

Bollinger Bands

Volatility remained moderate, with the 20-period Bollinger Bands narrowing slightly in the late hours of 2025-09-14 before expanding. Price hovered near the lower band during the final 6 hours of the 24-hour period, indicating pressure at key support.

Volume & Turnover

Volume surged during the early hours of 2025-09-15 as the price dropped toward 1.045, but declined in the final 6 hours despite continued bearish momentum, indicating a potential short-covering phase. Notional turnover peaked near 1.052 before fading toward the close, suggesting reduced conviction in further downside.

Fibonacci Retracements

The recent 15-minute swing from 1.087 (high) to 1.036 (low) aligns with a 61.8% retracement near 1.045, a critical support level. On the daily chart, the 38.2% retracement lies at ~1.047, and the 61.8% at ~1.052, which may dictate key price reactions in the near term.

Backtest Hypothesis

A backtesting strategy based on 20-period EMA crossovers and RSI divergences could yield insights into short-term reversals. When the 20 EMA crosses below the 50 EMA and RSI approaches oversold levels (30 or below), a long bias emerges. This setup was observed near 1.045, where a potential bounce could be tested. Incorporating Bollinger Band reversion and volume confirmation could enhance the robustness of such a strategy, offering a data-driven edge for traders navigating the next 24-hour period.