Market Overview for Gala/Tether (GALAUSDT) - 2025-09-14

• Gala/Tether (GALAUSDT) formed a bullish engulfing pattern during the overnight rebound.
• Price dipped to a 24-hour low of $0.01791 before recovering toward the session high of $0.01845.
• RSI and MACD suggested moderate bearish momentum during the selloff but showed signs of reversal by early morning.
• Total volume reached 196,885,000, with turnover peaking in the 21:00–22:00 ET window.

Gala/Tether (GALAUSDT) opened the 24-hour period at $0.01835, traded between $0.01791 and $0.01845, and closed at $0.01801 at 12:00 ET. Total trading volume for the period was 196,885,000, with the highest notional turnover observed during the sharp late-night rebound.

Structure & Formations

Price action over the 24-hour window showed a bearish trend followed by a strong bullish reversal from 21:00 to 2:00 ET, forming a notable bullish engulfing pattern at the session low. A doji emerged at the close of the 21:00–21:15 ET candle, signaling potential indecision and possible reversal. Support levels appeared at $0.01801 and $0.01799, while resistance levels were observed at $0.01835 and $0.01845.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages diverged during the late-night rally, with the 20-period line crossing above the 50-period line as a short-term bullish signal. On the daily chart, the 50-period and 200-period moving averages remained in a bearish alignment, indicating a longer-term bearish bias.

MACD & RSI

The MACD crossed into negative territory during the initial sell-off but reversed into positive territory as buyers stepped in during the overnight rebound. RSI bottomed near oversold territory at ~28 during the selloff and climbed back toward neutral levels (~50), suggesting momentum is improving.

Bollinger Bands

Price remained within the Bollinger Band channel throughout the day, with the most significant contraction occurring just before the 21:00 ET rebound. During the rebound, price surged near the upper band, indicating increased volatility.

Volume & Turnover

Volume surged during the 21:00–22:00 ET window as the bullish reversal played out, with the 21:15–21:30 ET candles showing the highest turnover. Price and volume showed strong confirmation during the rebound, with buyers overpowering sellers in the short term.

Fibonacci Retracements

Applying Fibonacci to the 24-hour swing from $0.01845 to $0.01791, the 61.8% retracement level aligns with $0.01826, where price briefly paused. The 50% retracement level at $0.01818 was tested and held during the morning hours.

Backtest Hypothesis

A potential backtesting strategy for Gala/Tether (GALAUSDT) could focus on the convergence of bullish engulfing patterns and strong volume surges, especially during early morning U.S. trading hours. The 21:00–22:00 ET rebound suggests that a strategy triggered on such a pattern, combined with RSI reaching oversold levels and MACD turning positive, may have yielded a short-term reversal trade. This aligns with the observed price action and could form the basis of a discretionary or algorithmic trading rule.