Market Overview for GMT/Tether (GMTUSDT) on 2025-11-03

• GMT/Tether (GMTUSDT) declined by -25.6% in 24 hours, closing at 0.02322, with heavy volume in the final 6 hours.
• A bearish breakdown below key support at 0.02465 confirmed on 04:45 ET, with no immediate signs of reversal.
• RSI oversold at 23 and MACD bearish cross suggest potential for further near-term weakness.
• Volatility expanded as price traded from 0.02533 to 0.02109, with turnover spiking below 0.022.
• Fibonacci 61.8% level at 0.0225 could offer short-term support if bearish momentum slows.

GMT/Tether (GMTUSDT) opened at 0.02483 on 2025-11-02 12:00 ET and closed at 0.02322 on 2025-11-03 12:00 ET, with a high of 0.02533 and a low of 0.02109. Total volume over 24 hours was 111,228,559.9 with a notional turnover of $2,603,108. The pair displayed a strong bearish bias, with a 6-hour sell-off below key support levels and no clear signs of reversal.

Structure & Formations

Price action showed a breakdown from a consolidation range that formed between 0.02465 and 0.02525. A bearish engulfing pattern appeared on 04:45 ET as price closed at 0.02332 after a gap down. This pattern was followed by a strong continuation sell-off, suggesting a shift in sentiment. The 0.02465 support level was broken decisively and may now act as resistance. A deep consolidation near 0.02225 followed, indicating a potential short-term oversold condition.

Moving Averages

On the 15-minute chart, the 20-period MA crossed below the 50-period MA early on 04:45 ET, confirming a bearish bias. The daily chart shows the 50-period MA at 0.02475, slightly above the 100-period MA at 0.02445 and the 200-period MA at 0.02435. Price is currently trading well below all three, indicating a strong bearish trend. A retest of the 50-day MA may offer a short-term entry for contrarians, but the longer-term bearish structure is intact.

MACD & RSI

The MACD crossed into bearish territory with a clear divergence as volume increased in the final 6 hours. The RSI has fallen to 23, a level that suggests oversold conditions. While this may indicate a near-term bounce, the divergence between the MACD and price suggests continued weakness. Momentum remains bearish, and without a strong move back above 0.0238, the RSI is likely to remain in oversold territory for a while.

Bollinger Bands

Volatility expanded significantly in the 24-hour period, with Bollinger Bands widening from a 0.0003 range to 0.0042. Price traded at the lower band for much of the session, especially between 04:00 ET and 09:00 ET. A potential reversal could occur if price closes above the midline of the bands. However, given the strength of the bearish move, this may not happen unless there's a significant volume spike and divergence in the RSI.

Volume & Turnover

Volume spiked during the final 6 hours of the 24-hour period, reaching a 3-hour peak of over 12,973,459.4 at 15:45 ET as price fell to 0.02109. This spike was not accompanied by a proportional increase in turnover, suggesting that the move was driven by smaller traders or short-term selling pressure. The divergence between volume and turnover raises questions about the sustainability of the move, but with RSI at oversold levels, a bounce may occur in the next 48 hours.

Fibonacci Retracements

Applying Fibonacci retracements to the recent swing from 0.02533 to 0.02109, the 61.8% level is at 0.0225 and the 38.2% level at 0.0236. Price has tested both levels and bounced slightly, especially near 0.02225, where a potential support is forming. A move above 0.0236 could signal a short-term reversal, but it would still be a bearish bounce in a larger downtrend. The 23.6% level at 0.0239 may also offer a near-term resistance ahead of the 50% level at 0.0243.

Backtest Hypothesis

To test the strength of the bearish bias, a backtesting strategy could be applied using the bearish engulfing pattern identified on 04:45 ET. A 5-day holding period would allow for a short-term reversal or continuation to be measured. Given the current RSI and MACD divergence, a 5–10% target on the rebound to 0.0238 would be realistic, but the trend remains bearish unless volume and turnover show a clear reversal. A 3% stop loss below the 0.0231 level could be used to manage risk.