Market Overview: Manchester City Fan Token/Tether USDt

• CITYUSDT opened at 1.015, reached a high of 1.104, and closed at 1.023 with a 24-hour volume of 2,317,100.
• Price surged during the 17:00–18:00 ET window, forming a bullish breakout before consolidating around 1.025.
• RSI showed overbought conditions briefly, while Bollinger Bands reflected moderate volatility with no clear expansion.
• Turnover spiked during the 17:00–18:00 ET window, aligning with the price action for strong short-term conviction.
• A key support level formed near 1.021 and resistance near 1.028 based on recent swing levels and volume profiles.

24-Hour Open-High-Low-Close

Manchester City Fan Token/Tether USDt (CITYUSDT) opened at 1.015 on 2025-09-04 at 12:00 ET and reached a high of 1.104 before closing at 1.023 at 12:00 ET on 2025-09-05. The 24-hour volume totaled 2,317,100, with a notional turnover of approximately $2,371,627. The price exhibited strong volatility in the 17:00–18:00 ET window, followed by a consolidation phase around 1.025.

Structure & Formations

The price formed a strong bullish breakout pattern during the 17:00–18:00 ET window, characterized by a long bullish candle that closed near the session high of 1.075. Subsequent candles showed indecision, forming a consolidation pattern near 1.025, suggesting a key area of psychological and volume-based support. A bearish engulfing pattern briefly appeared during the 18:45–19:00 ET window, signaling potential downward correction. A doji formed near 1.015 during the 01:45–02:00 ET window, indicating a balance between buyers and sellers at this price level. Key support appears to be forming near 1.021, while resistance is building at 1.028 and 1.034.

Moving Averages and Momentum Indicators

On the 15-minute chart, the 20-period moving average crossed above the 50-period line during the 17:00–18:00 ET window, confirming a short-term bullish trend. The 50-period MA currently sits slightly below the price, suggesting moderate bullish momentum. The RSI hit overbought territory above 70 during the 17:00–18:00 ET window but quickly corrected, indicating potential exhaustion of upward pressure. MACD showed a strong bullish crossover during the same period but has since flattened, hinting at waning momentum. The 50-period daily moving average may act as a key reference for medium-term bias.

Bollinger Bands and Volatility

Bollinger Bands reflected moderate volatility during the 24-hour period, with the price fluctuating between the midband and upper band during the 17:00–18:00 ET window. A contraction occurred around 03:00–04:00 ET before a notable expansion followed the breakout candle. The price currently sits near the midband, suggesting a neutral stance. A potential rebound or test of the upper band may occur if volume increases in the coming 24 hours, though this would require a clear breakout above 1.028.

Fibonacci Retracements

Applying Fibonacci retracement levels to the key 15-minute swing from 1.028 to 1.104, the price has found initial support at the 61.8% level (1.058), followed by a retest of the 50% level (1.066). A further retest of the 38.2% level (1.078) could signal a continuation of the downward drift. On the daily chart, retracement levels from the recent swing high to low (1.03 to 1.098) may offer additional resistance and support at 1.066 and 1.052.

Volume and Turnover

Volume spiked during the 17:00–18:00 ET window, with the highest notional turnover reaching $564,485. This was in line with the sharp price move from 1.03 to 1.075, confirming the bullish breakout. However, volume has since declined, suggesting a lack of follow-through buying. A divergence appears to be forming between price and volume as the latter tapers off while the former remains within a tight range. This could indicate a potential reversal if the trend fails to gain renewed volume.

Backtest Hypothesis

Based on the observed bullish breakout pattern and strong volume confirmation, a potential short-term trading strategy could involve entering long positions on a close above 1.028, with a stop-loss placed just below 1.021. A target could be set at 1.034, aligning with both the 50-period daily MA and a key psychological level. Given the RSI overbought condition and MACD flattening, the strategy should also incorporate a trailing stop or take-profit at 1.026 to capture the consolidation phase. The recent consolidation around 1.025 could serve as a trigger for a reversal short trade if the price breaks below that level with increasing volume.