Market Overview: The Graph/Tether (GRTUSDT) Daily Summary

• GRT/USDT fell to a 24-hour low of 0.0922 before rallying into the close at 0.0943.
• Volatility picked up midday with a 0.0933–0.0943 consolidation suggesting potential support.
• Volume remained uneven, with a sharp rise observed in the first half of the session.
• RSI signaled oversold conditions early, but momentum failed to confirm a reversal.
• The 20-period EMA remained above price, indicating a bearish bias in the short term.

Opening and Closing Context

On 2025-09-19 at 12:00 ET, GRTUSDT opened at 0.0941, reached a high of 0.0950, and a low of 0.0922, before closing at 0.0943 at 12:00 ET on 2025-09-20. The 24-hour period saw a total volume of 21,191,331.0 and a notional turnover of 1,992.65 (USDT equivalent). Price action shows a bearish bias with a late rally failing to hold above the 0.0943 level.

Structure & Formations

The session was marked by a bearish continuation after a failed attempt to retest 0.0950. A key support level formed near 0.0933–0.0935, where price found several times throughout the day. Notable patterns include a bearish engulfing at the 16:00–16:15 ET hour and a doji around 15:45 ET indicating indecision. A potential resistance lies above 0.0944 with a clear bearish trendline forming from earlier in the week.

Moving Averages and Momentum

The 20-period EMA on the 15-minute chart remained above the price, signaling bearish momentum. On the daily chart, the 50-period MA is approaching a critical level where a cross could confirm a bearish bias. RSI spent significant time in oversold territory during the midday hours but failed to recover above 50, suggesting a lack of bullish conviction. MACD remained negative throughout, reinforcing the bearish bias.

Volatility and Volume Analysis

Volatility was moderate, with Bollinger Bands contracting in the early session and expanding during the midday sell-off. Price traded near the lower band during the 15:00–16:30 ET period, signaling increased bearish pressure. Volume distribution was uneven, with a spike in volume seen in the early part of the session, followed by a gradual tapering off after 08:00 ET. However, this pattern failed to confirm a reversal, indicating weak conviction.

Backtest Hypothesis

A potential backtest strategy could focus on a combination of RSI oversold levels (below 30) and a cross below the 20-period EMA as entry triggers. Stop-loss placement could be set below the recent swing low near 0.0922, with a target to the 0.0933–0.0935 support level. A trailing stop may be used to capture partial gains if the price stabilizes. Given the recent consolidation and bearish momentum indicators, this strategy could be tested for short-term bearish trades.