Gravity/Tether Market Overview: Consolidation After Volatile Open

• Gravity/Tether (GUSDT) traded in a 0.0101–0.01032 range over 24 hours, closing near the upper end with modest bullish bias.
• Volatility expanded in the early hours before a consolidation phase post-12:00 ET, suggesting key levels may be in play.
• High-volume breakouts above 0.01021 were followed by sharp pullbacks, hinting at profit-taking or short-term profit pressure.
• RSI and MACD show divergence in late hours, indicating weakening momentum despite a firm close.
• Bollinger Bands show recent expansion, with price testing the upper band twice but failing to sustain above it.

Gravity/Tether (GUSDT) opened at 0.0101 on 2025-09-22 12:00 ET and closed at 0.01023 at 12:00 ET on 2025-09-23, reaching a high of 0.01032 and a low of 0.00992. Total traded volume amounted to ~20.7 million units, with a notional turnover of ~$210,363. The price action suggests a mixed session of early volatility and late consolidation.

Structure on the 15-minute chart reveals a key support level at 0.0101 and resistance at 0.01023. A bearish engulfing pattern formed at 0.01023 between 02:15 and 02:45 ET, followed by a bullish continuation after 03:45 ET. A long-legged doji at 0.01016 during 01:15 ET indicates indecision. The market has shown a tendency to reverse near 0.01018–0.01021, making this zone a pivot for near-term direction.

Moving averages on the 15-minute chart show the 20-period (SMA20) at ~0.01019 and the 50-period (SMA50) at ~0.01016, with price oscillating between the two. On the daily chart, the 50-period SMA is at 0.01014 and the 200-period SMA at 0.01010, suggesting the 0.01014–0.01016 range is a critical area for trend reconfirmation.

The RSI reached overbought territory above 65 three times (at 0.01023, 0.01025, and 0.01027) but failed to hold above 60, suggesting exhaustion. MACD showed a positive crossover early in the session but has since flattened, indicating waning bullish momentum. Bollinger Bands expanded in the early hours as volatility increased, with price testing the upper band at 0.01032 before retracing to mid-band levels.

Volume spiked to ~4.2 million units during a 12:00–12:15 ET breakout, confirming bullish conviction, but dropped sharply in the following 30-minute window. This suggests short-term traders may have locked in profits. Turnover followed volume with a 1:51 ratio, indicating a relatively low notional value per unit. No clear divergence between price and turnover was observed, though the late session saw higher volume without significant price movement.

Fibonacci retracement levels based on the 0.00992–0.01032 swing show key levels at 38.2% (0.01016) and 61.8% (0.01024), both of which saw price testing and partial rejections. A 61.8% retest at 0.01024 was followed by a sharp pullback, suggesting near-term resistance holds.

Backtest Hypothesis: This market appears to follow a short-term reversal pattern after testing 61.8% Fibonacci levels, especially when RSI and MACD show divergence. A backtest could model a strategy that enters long on a retest of 0.01016 with RSI below 50 and volume confirmation, or short on a break of 0.01023 with RSI above 60 and divergence. A 1:2 risk-reward ratio would be appropriate given the high volatility and frequent retracements.