Market Overview: Gnosis/Tether (GNOUSDT) – 24-Hour Price Action and Technical Analysis

• Gnosis/Tether (GNOUSDT) surged to a 24-hour high of $150.70, but closed slightly lower near $149.38.
• Momentum indicators showed overbought conditions midday, followed by a sell-off in early evening ET.
• Volatility expanded significantly during the Asian session, with volume spiking to over 110,000 contracts.
• A key 15-minute bullish engulfing pattern emerged after the 19:30 ET break, signaling a potential reversal.
• Price retested the 149.38 level twice, suggesting it may serve as a temporary support.

Gnosis/Tether (GNOUSDT) opened on 2025-09-17 at $145.58 and reached a high of $150.70 before closing at $149.38 as of 12:00 ET on 2025-09-18. The 24-hour period saw total trading volume of 1,862,899 contracts and a notional turnover of $279.7 million. Price action was marked by a sharp upward move in the late afternoon and early evening, followed by consolidation and pullback overnight.

Structure & Formations

Price action on the 15-minute chart revealed a number of key support and resistance levels during the 24-hour period. A strong resistance level emerged around the $150.41–$150.70 range, where price stalled twice, failing to break through to new highs. On the support side, the $149.38–$149.68 zone showed resilience, with price bouncing off this area on multiple occasions. A bullish engulfing pattern formed at 19:30 ET, suggesting a potential short-term reversal after a morning sell-off. Additionally, several doji patterns emerged in the early morning and overnight, indicating indecision and potential for a pause in the trend.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart were in bullish alignment, with price staying above both during the late afternoon and evening sessions. On the daily chart, the 50-period and 200-period moving averages suggest a longer-term bullish bias, with price remaining above the 50-day average and closing near the 200-day line. The 100-day average offered a key resistance level in the $149.53–$149.82 range, which coincided with a prior consolidation zone.

MACD & RSI

The MACD on the 15-minute chart showed a strong bullish crossover in the late afternoon, confirming the upward move in price. However, the RSI indicated overbought conditions by 17:45 ET, reaching levels above 70 before correcting. A bearish divergence between price and RSI emerged after 00:00 ET on 2025-09-18, as price continued to trade higher but RSI failed to confirm with a new peak. This suggests that buyers may be losing strength as we enter the next session.

Bollinger Bands

Volatility expanded significantly during the Asian and European sessions, pushing price near the upper Bollinger Band multiple times. A notable contraction occurred between 03:00–04:00 ET, followed by a sharp breakout to the upside. Price remained within the upper third of the bands for most of the day, indicating a high-volatility environment with bullish momentum. A consolidation phase in the overnight hours saw price settling just above the lower band before testing the middle band again at the end of the session.

Volume & Turnover

Volume spiked sharply during the late afternoon and early evening sessions, with a 15-minute candle on 2025-09-17 at 20:15 ET recording 174,899 contracts traded. This coincided with a strong upward move and confirmed the bullish momentum. However, during the overnight consolidation phase, volume declined significantly, suggesting a lack of follow-through from buyers. Notional turnover peaked at the same time, reaching $26.9 million on that candle. A divergence between price and volume emerged after 02:00 ET, as price continued to fall but volume remained subdued.

Fibonacci Retracements

Applying Fibonacci retracements to the key 15-minute swing from $145.57 to $150.70 revealed that price found support near the 61.8% level at $149.38–$149.68 during the overnight consolidation. A minor pullback to the 38.2% level at $149.82–$149.97 also acted as a temporary floor before the price resumed its upward trajectory. On the daily chart, retracement levels suggest that a retest of the $147.46–$147.88 range could offer further short-term support if the current bullish trend weakens.

Backtest Hypothesis

A potential backtesting strategy involves entering long positions at the confirmation of a bullish engulfing pattern on the 15-minute chart, with a stop-loss placed just below the pattern’s low. The take-profit target would be set at the 38.2% and 61.8% Fibonacci retracement levels following the pattern’s high. Given the strong volume confirmation seen in the 2025-09-17 19:30 ET engulfing candle, this strategy would have captured a significant portion of the subsequent upward move. The RSI divergence and volume contraction observed after 02:00 ET also suggest a cautious exit or trailing stop, aligning with the observed consolidation and pullback.