GMT/Tether Market Overview: 24-Hour Consolidation with Oversold RSI

• GMT/Tether closed below its 12:00 ET open amid a broad consolidation trend.
• Key resistance at $0.0406 held firm, while support at $0.0402 remained intact.
• Volatility dipped in late hours, with RSI signaling oversold conditions.
• A bearish divergence in volume and price was observed in the final 15-minute candle.
• Fibonacci retracements suggested 61.8% levels could act as near-term support.

GMT/Tether (GMTUSDT) opened at $0.0404 on 2025-10-06 at 12:00 ET, peaking at $0.0408 and bottoming at $0.0382 before closing at $0.0401 on 2025-10-07 at 12:00 ET. Total volume for the 24-hour window was approximately 15.57 million, with a notional turnover of $645,438. The pair displayed a volatile 15-minute range, punctuated by a sharp selloff toward the end of the session.

Structure & Formations

The 24-hour chart formed a wide-range consolidation pattern, with the price repeatedly testing the $0.0406 resistance and finding support at $0.0402. A long lower wick and shrinking candle bodies in the final hours signaled potential exhaustion in the bearish move. Notable formations included a bearish engulfing pattern around $0.0405 and a potential bearish harami near the 0.0403 level, indicating short-term bearish bias.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages converged toward the $0.0404–$0.0405 range, suggesting a neutral to slightly bearish bias. On the daily timeframe, the 50-period MA sat above the 200-period MA, indicating a longer-term bullish trend despite the recent 24-hour pullback.

MACD & RSI

The MACD crossed into negative territory in the final hours, with the histogram narrowing as momentum slowed. RSI hit oversold levels below 30 in the last candle, hinting at a potential near-term reversal. However, no strong bullish divergence emerged in either indicator.

Bollinger Bands

Volatility expanded significantly during the selloff, with the lower band touching $0.0392. Price closed near the lower band, indicating a potential rebound could be in play. The width of the bands suggests a period of high uncertainty, with traders likely to watch for a retest of key levels.

Volume & Turnover

Volume increased sharply during the selloff, with the largest 15-minute volume spike occurring at $0.0396. However, price failed to close above key resistance, signaling bearish confirmation. A divergence between falling price and decreasing volume in the last candle may suggest a potential pause in the decline.

Fibonacci Retracements

Applying Fibonacci to the recent 15-minute swing from $0.0408 to $0.0382, the 61.8% level at $0.0393 aligns with the last candle’s close. A retest of the 50% level at $0.0395 could confirm bearish momentum, while a rebound from the 38.2% level at $0.0398 may suggest a countertrend rally.

Backtest Hypothesis

The strategy described involves a mean-reversion approach using RSI and Bollinger Bands. It triggers long positions when RSI enters oversold territory below 30 and price touches the lower Bollinger Band, with stop-loss placed below a recent swing low. Short positions are triggered when RSI is overbought above 70 and price hits the upper band, with stop-loss above a recent swing high. Given the last 24-hour behavior, this strategy may have captured the $0.0396 sell-off with a stop above $0.0403. The effectiveness of the approach would depend on a consistent environment of high volatility and clear mean reversion signals.