Market Overview for Santos FC Fan Token/Bitcoin

Summary
• SANTOSBTC declined by 6.7% in 24 hours, forming bearish engulfing patterns in key clusters.
• Low volume and turnover suggest limited conviction behind price action.
• RSI entered oversold territory, hinting at potential short-term stabilization.

Santos FC Fan Token/Bitcoin (SANTOSBTC) opened at 2.63e-05, reached a high of 2.63e-05, and closed at 2.306e-05 following a 24-hour low of 2.306e-05. Total volume traded was 22,916.09, with a notional turnover of 0.559 BTC.

Structure & Formations

Price action displayed bearish engulfing patterns between 17:00 ET and 18:45 ET, suggesting a shift in sentiment. A doji formed at 21:45 ET as the price consolidated briefly before resuming the decline. The 2.53e-05 level acted as a magnet, showing retests and minor bounces, but failed to hold as support.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages confirmed the downward bias throughout the session. The daily chart suggests a longer-term bearish trend, with the 200-period MA acting as a ceiling for potential bounces.

MACD & RSI

The MACD showed bearish divergence, with the line and histogram moving lower even after minor retracements. RSI dropped below 30, signaling oversold conditions, which may attract short-term buyers.

Bollinger Bands

Volatility remained compressed for much of the session, with price staying near the lower band. A minor expansion occurred during the 08:15–10:00 ET window, indicating a period of higher selling pressure.

Volume & Turnover

Volume and turnover were generally low throughout the session, with the exception of a spike at 10:00 ET. This suggests limited market conviction behind the price move, with most selling occurring in smaller, fragmented trades.

Fibonacci Retracements

The key 5-minute swing from 2.63e-05 to 2.306e-05 shows price hitting the 61.8% Fibonacci level at 2.44e-05 before breaking through. The 38.2% retracement at 2.55e-05 served as a temporary ceiling. On the daily chart, the pair may test the 61.8% retracement of the broader bear trend.

Price may find near-term support at 2.30e-05 or face a test of the 2.38e-05 level in the coming 24 hours. However, the absence of strong volume and mixed momentum indicators suggest a cautious stance may be prudent ahead of further direction.