Gains Network/Tether Market Overview

• Price moved in a tight range before a sharp late-day rally lifted GNSUSDT above 1.480.
• Volume spiked dramatically in the last 24 hours, suggesting renewed institutional or large-cap investor interest.
• A bullish engulfing pattern emerged near 1.475–1.480, indicating a potential reversal.
• RSI remains within neutral territory, but momentum is improving as the 20-period average starts to slope upwards.
• Bollinger Bands have widened in the final 4 hours, reflecting increased volatility and price consolidation efforts.

Gains Network/Tether (GNSUSDT) opened at 1.444 on October 30 at 12:00 ET and closed at 1.492 on October 31 at 12:00 ET. The pair reached a high of 1.509 and a low of 1.423 during the 24-hour period. Total volume was 101,840.68 and notional turnover amounted to approximately 152,527.69.

Structure & Formations

Price movement over the past 24 hours indicates a gradual shift in sentiment. Early in the session, GNSUSDT struggled to break above 1.460, forming a bearish consolidation pattern. However, a strong bullish engulfing pattern emerged between 1.475 and 1.480, signaling a possible reversal. Resistance appears to be forming around 1.490–1.500, with intraday highs reaching 1.509. Support levels have held at 1.480 and 1.470, with a potential pivot at 1.465–1.475. A doji appeared near 1.485–1.488, indicating indecision and a potential pause in the upward movement.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are converging, with the 20-period line now above the 50-period. This suggests a short-term bullish bias. On the daily chart, the 50-period line is approaching the 100-period line, which may indicate a potential crossover into a more neutral or bullish phase in the coming days. The 200-period MA remains below current price levels, suggesting that the long-term trend is still neutral.

MACD & RSI

MACD lines have turned positive in the last 4 hours, with a recent histogram crossover suggesting increasing bullish momentum. The RSI remains within neutral range (50–70), but recent readings suggest a potential shift toward overbought territory. Given the late-day rally, it may be worth watching for a pullback or consolidation before another leg higher.

Bollinger Bands

Bollinger Bands have widened significantly in the last 4 hours, reflecting increased volatility and a strong price move toward the upper band. Price has tested the upper boundary multiple times, but a breakout has not yet materialized. This expansion could indicate a potential continuation of the rally or a possible reversal, depending on how volume and sentiment evolve.

Volume & Turnover

Volume surged in the last 4 hours, with a large spike in the candle at 08:45 ET, as GNSUSDT surged toward 1.495. This increase in volume confirms the strength of the recent rally and suggests strong participation. Notional turnover increased in tandem with the price rise, showing no divergence. The high volume near 1.480–1.490 may form a new base for the pair, supporting further upward movement.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute swing from 1.423 to 1.509 shows that the current price is approaching the 61.8% retracement level at approximately 1.490–1.495. On a daily basis, the 38.2% and 50% levels have been key zones in recent consolidation, and the current price movement suggests that the 61.8% level could be a near-term target.

Backtest Hypothesis

To refine trading signals and assess the potential profitability of entering or exiting GNSUSDT positions based on recent behavior, a backtest using RSI overbought/oversold levels would be valuable. Given the current lack of access to the RSI values for GNSUSDT, the analysis is incomplete. With confirmed access to the correct ticker (e.g., “BYBIT:GNSUSDT”), RSI data could be used to identify historical overbought events (RSI > 70) and analyze their predictive accuracy over the past three years. This would allow for testing strategies such as sell on RSI > 70 or buy on RSI < 30, with a look at the subsequent price performance to inform risk-adjusted returns.