Market Overview for ChainGPT/Tether (CGPTUSDT)

Summary
• Price fluctuated between $0.02762 and $0.02905, with a late rally pushing the close to $0.02838.
• Volatility expanded after 20:45 ET, marked by sharp volume surges and a bullish engulfing pattern.
• RSI signaled overbought levels at 73 before a pullback, suggesting a potential near-term reversal.
• Bollinger Bands showed a contraction early morning followed by expansion, aligning with the midday breakout.
• Turnover confirmed price movements during the late ET rally, suggesting strong conviction in the upward move.

ChainGPT/Tether (CGPTUSDT) opened at $0.0279 on 2025-12-23 at 12:00 ET, surged to a high of $0.02905, and closed at $0.02838 by 12:00 ET on 2025-12-24. The pair traded between $0.02762 and $0.02905, with total volume of 6.78 million and a notional turnover of approximately $193,400.

Structure & Formations

Price found key support at $0.02762 and tested resistance at $0.0285 and $0.02905 during the session. A strong bullish engulfing pattern emerged after 20:45 ET, confirming a short-term reversal. A doji near $0.02853 at 04:15 ET suggested indecision before the upward thrust.

Moving Averages

On the 5-minute chart, the 20-period MA crossed above the 50-period MA during the late ET rally, signaling a short-term bullish bias. On the daily chart, the price remained below the 200-period MA but above the 50-period MA, suggesting a mixed medium-term outlook.

MACD & RSI

The MACD crossed above the zero line during the breakout phase and remained positive in the final hours, indicating sustained bullish momentum. RSI reached overbought territory (73) around 21:00 ET before retreating, signaling a potential pullback.

Bollinger Bands

Early morning saw a consolidation phase with Bollinger Band contraction, followed by a sharp expansion after 20:45 ET, in line with the breakout. Price spent most of the session near the lower band, suggesting bearish pressure, but closed near the midline.

Volume & Turnover

Volume increased dramatically from 20:45 ET onward, peaking at 683k during the rally to $0.02905 and 455k at 17:00 ET as the pair closed near $0.02838. Turnover confirmed the upward moves, showing no divergence with price action.

Fibonacci Retracements

A 61.8% retracement level of the $0.02762–$0.02905 swing fell near $0.02835, closely aligning with the final close of $0.02838. This suggests that the rally may find initial resistance near this level in the near term.

The market appears to be consolidating after a strong rally, with key resistance near $0.02835–$0.02850 and support around $0.0281–$0.0279. Traders should monitor volume for confirmation of the next directional move. As always, market conditions could shift rapidly due to macroeconomic factors or news affecting crypto sentiment.