Market Overview: MyNeighborAlice/Tether (ALICEUSDT) - 24-Hour Summary (11/05–11/06 2025)

• Price action drifted lower through the 24-hour period, with bearish momentum emerging in the final hours.
• RSI suggests oversold conditions in the last 15-minute interval, while volume surged in the overnight session.
• A potential support level appears near 0.235–0.240, with a recent high of 0.2523 forming a key resistance.

Market Summary and Key Levels

The MyNeighborAlice/Tether (ALICEUSDT) pair opened at $0.2461 at 12:00 ET–1 on 2025-11-05 and closed at $0.24 at 12:00 ET on 2025-11-06. The daily high reached $0.2523, while the low touched $0.2359. Total volume across the 24-hour period was 3,512,375.72, with a notional turnover of approximately $857,555.

Key support levels appear near 0.235–0.240, where price found a floor in the final hours of the 24-hour period. A potential resistance zone exists between 0.248 and 0.2523, marked by recent highs and prior distribution areas. A bearish engulfing pattern was visible in the 02:15–02:30 ET window, reinforcing downward pressure.

Structure & Formations

Price action formed a series of bearish engulfing patterns, most notably between 02:15 and 02:45 ET, as well as a potential evening star at 04:00–04:15 ET. A doji at 05:30 ET suggests indecision at lower levels, while the overnight session showed a strong bearish continuation.

Moving Averages and Momentum

On the 15-minute chart, the 20-period MA crossed below the 50-period MA, confirming bearish momentum. The 50-period MA is approaching the 100-period MA on the daily chart, hinting at a possible consolidation phase ahead. The RSI(14) has dipped into oversold territory (below 30) in the last hour, while the MACD histogram has turned negative and is diverging with price.

Bollinger Bands and Volatility

Bollinger Bands expanded overnight as volatility increased, with price bouncing near the lower band at 0.2359 and 0.2373. The recent contraction in band width at 05:00–05:30 ET may precede a breakout, though a continued close below the 20-period MA suggests a probable bearish continuation.

Volume & Turnover

Volume spiked overnight with a 15-minute candle at 12:45–01:00 ET showing over 182k volume on a $0.2373 close. Notional turnover also surged in the 12:00–01:45 ET window, indicating accumulation or distribution activity. Divergence between volume and price was observed between 05:30–06:00 ET, where volume dropped despite continued price movement.

Fibonacci Retracements

Applying Fibonacci levels to the recent 0.2359–0.2523 swing, the 38.2% retracement sits at 0.2436 and the 61.8% at 0.2479. Price tested the 38.2% level twice in the 06:00–08:00 ET window before falling through to lower support.

Backtest Hypothesis

To proceed with a backtesting strategy for ALICEUSDT, we require accurate price data and the ability to calculate RSI(14) for the pair. The proposed strategy involves using RSI(14) as a signal for both entry and exit: entering long when RSI falls below 30 and exiting when it rises back above 30. Please confirm the correct ticker symbol for ALICE/USDT to ensure the RSI and price data can be retrieved accurately. Once this is confirmed, the backtest can be implemented using either the close of the bar or the next-day open for entry and exit signals, depending on preference.