Market Overview for Santos FC Fan Token/Bitcoin (SANTOSBTC)

Summary
• Price opened at 1.337e-05 and closed at 1.33e-05, forming a narrow consolidation pattern.
• RSI and MACD indicated weakening momentum with no clear overbought or oversold signals.
• Volatility remained low, with prices staying near the lower Bollinger Band for most of the day.

Santos FC Fan Token/Bitcoin (SANTOSBTC) opened at 1.337e-05 on 2025-11-07 at 12:00 ET and closed at 1.33e-05 on 2025-11-08 at 12:00 ET, with a 24-hour high of 1.371e-05 and low of 1.319e-05. The total 24-hour volume was 8,654.52 and total turnover amounted to 1.13900. The pair remained in a tight trading range for most of the day, with no significant directional bias.

The price action over the 24-hour period revealed a series of small consolidating candlesticks, with several instances of doji and bearish harami patterns suggesting indecision among traders. Key support levels formed around 1.319e-05 and 1.326e-05, while resistance emerged at 1.336e-05 and 1.348e-05. The 15-minute 20-period and 50-period moving averages closely aligned, indicating no strong trend formation. On the daily chart, the 50/100/200-day moving averages are not applicable due to insufficient data.

MACD indicators showed a flat histogram with the line and signal line closely tracking one another, indicating weak momentum and no clear directional bias. RSI remained in a mid-range, fluctuating between 50 and 55, avoiding both overbought and oversold levels. Bollinger Bands reflected low volatility, with the price staying near the lower band for much of the session. A slight expansion occurred in the late evening, coinciding with increased volume spikes and a short-lived breakout attempt above 1.348e-05.

Fibonacci retracement levels drawn from the recent 15-minute high at 1.371e-05 to the low at 1.319e-05 showed the price hovering near the 61.8% level (~1.337e-05), which coincided with the morning open. This suggests a potential support zone that traders may look to for near-term direction. The volume profile showed several clusters around key price levels, particularly near the 1.336e-05 and 1.33e-05 marks, indicating potential interest from market participants.

A backtest hypothesis was explored using the RSI indicator, where a sell signal was generated on the overbought condition. However, this led to a 5.76% price drop the same day, followed by a 5.4% rebound over the next three days. This suggests the strategy could lead to short-term losses and missed opportunities, highlighting the need for multi-indicator analysis to improve decision-making in volatile markets.