Market Overview for Gnosis/Tether (GNOUSDT)

• GNOUSDT climbed from $119.09 to $121.35, with a 24-hour high of $124.65 and support at $118.09.
• Momentum accelerated after 11:00 AM ET as price broke above the 50-period SMA.
• A volume spike of 827.718 BTC at 3:30 PM ET confirmed a sharp pullback from $125.24 to $123.50.
• RSI moved from overbought to neutral, suggesting a possible consolidation phase.
• Bollinger Bands widened mid-day, indicating rising volatility and potential for a breakout.

Market Summary and Key Metrics

Gnosis/Tether (GNOUSDT) opened at $119.09 on 2025-11-08 at 12:00 ET and closed at $121.35 on 2025-11-09 at 12:00 ET. The pair reached a 24-hour high of $124.65 and a low of $118.09. Total trading volume amounted to 1,316.279 BTC, with a notional turnover of approximately $159,471. The price trended upwards for most of the session, showing signs of strong bullish momentum and volume confirmation.

Structure & Formations

The candlestick structure displayed a series of bullish formations, including a morning star pattern forming just before 4:30 PM ET and a strong green engulfing candle at 3:30 PM ET. Key support levels appear to be consolidating around $118.43 and $119.00, while resistance levels emerged at $120.50 and $121.50. A notable bearish doji formed at 04:45 AM ET, indicating indecision and potential short-term correction.

Support and Resistance Levels (15-minute Chart)

• Strong Support: $118.09, $119.00
• Moderate Support: $119.63, $119.92
• Strong Resistance: $120.50, $121.15
• Moderate Resistance: $121.40, $121.75

A bearish rejection at $121.75 was observed, with price failing to break above for over two hours.

Moving Averages

The 20-period and 50-period moving averages (15-minute timeframe) showed bullish alignment throughout the session, with the 20-period line sitting just below the 50-period line, reinforcing the uptrend. On the daily chart, the 50-day SMA was last at $119.75, suggesting a recent breakout into overbought territory. The 100 and 200-period moving averages are likely trailing behind, indicating a longer-term upward shift.

Bollinger Bands

Volatility expanded as the upper band reached $124.65 at 3:30 PM ET, reflecting increased buying pressure. Price remained within the bands for the majority of the day, with the last two hours showing a mild contraction, suggesting a potential consolidation phase ahead.

Volume and Turnover

Trading volume spiked sharply at 3:30 PM ET to 827.718 BTC, coinciding with a pullback from $125.24 to $123.50. This volume spike confirmed the sharp move lower, reinforcing the strength of the bearish correction. Turnover surged in the same period, indicating meaningful participation from institutional and large-cap traders.

Fibonacci Retracements

Applying Fibonacci levels to the 15-minute swing high of $124.65 and low of $118.09, key retracement levels include:

• 38.2%: ~$121.95
• 61.8%: ~$119.82

Price found a brief pause at the 61.8% level ($119.82), which acted as a support zone, before resuming the upward trajectory.

Backtest Hypothesis

Given the observed structure and volume confirmation, a potential backtest could focus on the 50-period moving average as a trigger for entries, combined with RSI divergence for exit signals. A buy signal could be generated when price closes above the 50-period SMA on rising volume, and a sell signal when RSI reaches overbought levels (>70) with bearish divergence. This approach would require testing against historical price swings and volume spikes to validate its effectiveness.