GMTUSDT Market Overview

• GMTUSDT traded in a tight 0.0236–0.0246 range with a 24-hour high of 0.02488.
• Volume spiked to 16.9M at 23:00 ET as the pair rallied 1.5%, but reversed sharply.
• Price closed near a key 0.0240 support level, suggesting potential for near-term consolidation.

GMT/Tether (GMTUSDT) opened at 0.02407 on 2025-11-10 at 12:00 ET, reached a high of 0.02488, and closed at 0.02402 by 12:00 ET on 2025-11-11. Total volume across the 24-hour period was 111,252,385.5 and notional turnover was $27,531,914. Price action reflects a volatile session with a strong midday rally followed by a sharp reversal, ending near a key support level.

Structure & Formations

GMTUSDT displayed a bearish reversal pattern around 23:00 ET, where a large bullish candle was followed by a larger bearish candle, forming a potential bearish engulfing pattern. A doji near 0.02452 at 02:00 ET on the 11th suggested indecision. The 0.0240 level appears to be a strong support, holding the price despite a mid-session decline.

Moving Averages

On the 15-minute chart, the 20-period moving average crossed above the 50-period line around 00:30 ET, signaling a temporary bullish crossover. However, the 50-period MA has since dropped below the 20-period MA, suggesting a weakening bullish momentum. On the daily chart, the 50-period MA sits above the 100 and 200-period lines, indicating a longer-term bullish bias.

MACD & RSI

The MACD line crossed above the signal line in the early hours of November 11, but has since dipped below, hinting at fading momentum. RSI reached overbought levels above 70 around 23:00 ET but quickly retreated into neutral territory. This suggests short-term momentum may be exhausted after the sharp 1.5% move, with price potentially consolidating around 0.0240 in the near term.

Bollinger Bands

Bollinger Bands showed a narrowing around 00:30 ET, indicating a potential breakout. The price moved out of the upper band at 23:00 ET but failed to sustain the move, closing near the middle band by 05:00 ET. This suggests a temporary volatility expansion followed by a pullback, with price finding support near the lower band later in the session.

Volume & Turnover

Volume surged sharply around 23:00 ET, peaking at 16.9M, confirming the breakout attempt. However, volume decreased significantly after the 01:00 ET time frame, signaling a lack of follow-through buying. Notional turnover mirrored the volume pattern, suggesting that the initial upward move was driven by larger institutional or algorithmic trades rather than broad market participation.

Fibonacci Retracements

Key Fibonacci levels from the 0.02488 high to the 0.02365 low include 0.02436 (38.2%) and 0.02397 (61.8%). Price tested both levels during the session, with the 0.02397 level acting as a temporary floor. The current price near 0.0240 aligns closely with the 61.8% retrace level, suggesting potential for a short-term bounce or consolidation.

Backtest Hypothesis

Given the volatility and key support/resistance levels identified, a potential backtesting strategy could be:
– Use a 14-period RSI with a 70 overbought threshold.
– Enter long when RSI closes above 70 (intraday signal) and exit at the close of the same day.
– Apply this logic to the GMTUSDT pair on Binance (GMTUSDT.BINANCE) to test its effectiveness in capturing sharp intraday moves. This approach aligns with the observed volatility and strong volume spikes, which may provide high-probability entry points.