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

• CITYUSDT opened at $0.996 and closed at $1.001, showing a 24-hour price recovery from a morning dip.
• Momentum surged after 20:00 ET as price broke above 1.000, supported by high-volume buying.
• Volatility expanded in the last 6 hours, with Bollinger Band width reflecting increased uncertainty.
• Volume spiked to $77,528.49 at 14:45 ET, coinciding with a bullish breakout to 1.007.
• RSI crossed into overbought territory near 70, signaling potential for a pullback ahead.

Manchester City Fan Token/Tether (CITYUSDT) opened at $0.996 on 2025-10-06 at 12:00 ET and closed at $1.001 by the same time on 2025-10-07. The 24-hour range extended from a low of $0.983 to a high of $1.015, with total volume amounting to 1,284,375.81 and turnover reaching approximately $1,289,789.97. The pair showed strong late-day momentum and volatility, with several key turning points emerging in the 15-minute chart.

Structure & Formations

The 15-minute chart displayed a strong bullish reversal pattern at 0.983–0.985, where a long lower shadow and a bullish engulfing pattern signaled a short-covering rally. Resistance levels were observed at 0.995, 1.000, and 1.005, with the latter being broken decisively after a consolidation phase. A potential bearish continuation pattern appeared at 1.007, marked by a long upper shadow and a near-equivalent close, suggesting caution for further gains.

Moving Averages

On the 15-minute chart, price briefly crossed above the 20-EMA at 0.997 and the 50-EMA at 1.000, reinforcing the bullish momentum. On the daily chart, the 50-EMA and 200-EMA crossed near 1.002 earlier in the week, indicating a possible long-term support zone. The 100-EMA currently sits just below the 1.000 level, suggesting potential for a pullback into this area.

MACD & RSI

The MACD line turned positive after 04:00 ET, confirming the start of a bullish phase. The histogram expanded as volume increased in the 14:45 ET candle, aligning with the breakout. RSI surged to overbought territory (near 70) by the 16:00 ET candle and has remained elevated, indicating a possible short-term correction could follow. A divergence appeared between price and RSI in the last 30 minutes of the 24-hour window, suggesting a bearish divergence may be forming.

Bollinger Bands

Volatility expanded significantly during the 14:45–16:00 ET period, with Bollinger Bands widening from approximately ±2.0% to ±4.5%. The closing candle at 1.001 fell near the upper band, suggesting that buyers are showing strength but caution is warranted. A contraction in the band width occurred earlier in the morning (around 06:00–08:00 ET), indicating a period of consolidation before the breakout.

Volume & Turnover

Volume spiked at 14:45 ET to a 24-hour high of 77,528.49, coinciding with the breakout to 1.007. This was followed by a sharp drop in volume, indicating potential exhaustion in the move. Turnover increased in line with volume, but a divergence began to form after 16:00 ET, with price continuing higher while volume declined. This may suggest the move is overextended and could reverse soon.

Fibonacci Retracements

On the 15-minute chart, the move from 0.983 to 1.007 saw a 61.8% retracement at 0.995 and a 78.6% retracement at 1.003. Price held above the 61.8% level for most of the session, suggesting buyers have control. On the daily chart, the 38.2% retracement level at 1.004 is currently acting as a key resistance.

Backtest Hypothesis

A potential backtest strategy could involve entering long positions on a bullish engulfing pattern at key support levels, such as the 0.983–0.985 zone, with a stop-loss placed below the 15-minute low of the formation. A take-profit target could be set at the 61.8% Fibonacci level (1.003) or the next key resistance at 1.005. Given the recent overbought RSI reading and the divergence forming, a trailing stop or exit at 1.005 could be considered to protect gains.