Market Overview for Santos FC Fan Token/Bitcoin (SANTOSBTC) on 2025-10-11

• Price declined sharply after a volatile midday sell-off, closing at a 24-hour low of 1.301e-05.
• Volume spiked dramatically between 21:15 ET and 21:30 ET, with over 53,000 units traded in a downward gap.
• RSI indicates oversold conditions, and price appears to be consolidating near a key 15-min support level.
• Bollinger Bands show a recent contraction, suggesting potential for a breakout or breakdown.
• Turnover surged in the latter half of the day as price collapsed, highlighting distribution pressure.

The Santos FC Fan Token/Bitcoin (SANTOSBTC) pair opened at 1.565e-05 on 2025-10-10 at 12:00 ET, reaching a high of 1.583e-05 and a low of 3.5e-06, before closing at 1.301e-05 on 2025-10-11 at 12:00 ET. Total traded volume over the 24-hour period was 171,662.93, with a total notional turnover of 255,116.77. A dramatic selloff unfolded in the early evening hours, marking a sharp divergence in price and volume dynamics.

Structure and formations suggest a breakdown pattern forming after a failed attempt to retest previous support levels around 1.557e-05. The price action from 21:15 ET to 21:30 ET indicates a bearish continuation with a volume spike. A doji formed at 21:45 ET, indicating indecision. Resistance levels appear to be at 1.565e-05 and 1.583e-05, while key support is now forming near 1.301e-05. The 50-period and 200-period moving averages are well above the current price, reinforcing the bearish bias.

MACD shows a strong bearish divergence with a negative histogram, indicating weakening bullish momentum. RSI has fallen into oversold territory, suggesting a potential bounce or a continuation of the downtrend. Bollinger Bands have narrowed significantly before the breakdown, indicating a potential for increased volatility in the near term. The price has settled below the lower band, reinforcing the bearish sentiment and signaling a consolidation phase.

Volume and turnover analysis show that the largest turnover occurred during the sell-off period, confirming the strength of the bearish move. However, price and volume appear to have diverged slightly in the final hours of the 24-hour window, as volume dipped despite continued selling pressure. This divergence may indicate a temporary pause in the downtrend. The total notional turnover surged from minimal levels in the early part of the period to peak in the middle of the day, aligning with the sharp drop in price.

Backtest Hypothesis
The backtesting strategy outlined emphasizes identifying short-term reversals during overbought or oversold conditions, with a focus on volume confirmation. A potential entry would be triggered when RSI drops below 30 and is confirmed by a rising volume bar. Given the current conditions, this strategy may find a favorable entry point if price bounces from the 1.301e-05 level. However, the strategy assumes a relatively stable environment and may be less effective during sharp, unconfirmed breakouts or breakdowns like the one seen today.