Market Overview for GMT/Tether (GMTUSDT) – October 29, 2025

• GMT/Tether traded between 0.02623 and 0.02778 over the past 24 hours, closing near 0.02670.
• A bearish breakdown below key support at 0.02665 occurred midday before a partial recovery.
• Volume surged at 20:30–21:30 ET as the pair tested fresh lows near 0.0263, signaling weak buying interest.
• Volatility expanded significantly during the session, with Bollinger Bands widening and price hovering near the lower band.
• RSI remains in neutral territory, suggesting momentum is neither overbought nor oversold.

GMT/Tether (GMTUSDT) opened at 0.02753 on October 28 at 12:00 ET and closed at 0.02670 as of October 29 at 12:00 ET. The pair reached a high of 0.02778 and a low of 0.02623. Over the 24-hour window, the total trading volume amounted to 40,463,430.4 units, with notional turnover totaling approximately $1,102,686 (based on average price of 0.02725).

The 24-hour price action revealed a key breakdown below the 0.02665 level, which acted as a pivot for several hours. The session was characterized by a bearish bias during the early hours of October 29, with the price falling to a low of 0.02623 before consolidating near 0.0263–0.0265. A small bearish engulfing pattern formed at 20:30 ET, signaling potential bearish momentum. A long lower wick appeared during the 04:30–05:30 ET window, indicating some buying interest but ultimately failing to reverse the trend.

The 15-minute chart suggests that the 20- and 50-period SMAs have both moved lower, reinforcing the downtrend. Price is currently trading below both moving averages, indicating a bearish bias for the short term. The daily 50/100/200-period SMAs may also be in a bearish alignment, though specific values were not provided. The MACD histogram has been negative for most of the session, confirming the bearish momentum. RSI has been fluctuating within a neutral range of 35–55, suggesting no strong overbought or oversold conditions.

Price has been hovering near the lower Bollinger Band for much of the session, with volatility widening in the last 12 hours. A retest of the 0.0263–0.0265 range is likely in the next 24 hours, which could act as either a support or a consolidation zone depending on volume participation. The 0.02665–0.0267 level is a critical area to watch, as a break above it could trigger a short-term rebound. A break below 0.0263, however, could lead to further bearish pressure.

Fibonacci retracements drawn from the key 0.02623 to 0.02778 swing show the 0.0265 level as a 38.2% retracement, and the 0.0268 as a 61.8% retracement. If the price fails to hold the 0.0265 level, it could head toward the next Fibonacci level at 0.0263, or even lower. A strong rebound above 0.0267 may attract short-covering and trigger a test of the 0.0271–0.0272 zone.

Backtest Hypothesis

The proposed backtest strategy involves identifying RSI-oversold conditions in the GMTUSDT pair over the past 3 years (2022–2025) and evaluating the performance of a 3-day-hold entry strategy. Given the current internal error with the RSI data, the backtest cannot proceed without either resolving the data mismatch, adjusting the ticker symbol, or providing the oversold dates manually. Once the RSI data is retrieved or the dates are supplied, the strategy could be tested for signal frequency, average gain, and drawdowns.