GALAUSDT Market Overview

Summary
• GALAUSDT traded in a 24-hour range of $0.00979 to $0.01062, closing near key resistance.
• Momentum remained bullish with RSI above 60 and no overbought signs.
• Volume surged during the NY session, suggesting renewed buyer interest.

Gala/Tether (GALAUSDT) opened at $0.01013 on 2025-11-07 12:00 ET and closed at $0.01013 by 12:00 ET on 2025-11-08. The 24-hour high reached $0.01062, while the low was recorded at $0.00979. Total trading volume was 535,588,439.00, and notional turnover amounted to approximately $5,356,233.20.

Structure & Formations

The GALAUSDT price displayed a consolidation pattern following an early morning rally to $0.01062. A key support level appears to be forming near $0.01005, where the price bounced multiple times over the past 24 hours. A bearish engulfing pattern formed around 2025-11-08 00:45 ET after the price spiked to $0.01054 and closed at $0.01040. A bullish morning star may also be developing near $0.01015, suggesting a potential reversal from a downward trend.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs crossed above the price during the NY session, confirming short-term bullish momentum. The 50-period SMA on the daily chart remains above the 100- and 200-period SMAs, indicating a moderate uptrend in the broader timeframe. The price has not yet broken above the 50-period SMA on the daily chart but remains above it, suggesting a continuation of the upward bias.

MACD & RSI

The MACD histogram showed expanding positive divergence during the early part of the session, particularly from 2025-11-08 02:00 ET to 06:00 ET, confirming buying pressure. The RSI remains above 60 for much of the session, with a brief dip near 50 in the afternoon, but no oversold conditions were observed. This suggests sustained momentum with no immediate signs of exhaustion. The RSI’s failure to close below 50 indicates that buyers remain in control.

Bollinger Bands

Volatility expanded during the morning hours as the price traded near the upper band, reaching $0.01062. After the midday correction, the price retracted toward the middle band but remained within the channel, avoiding a break of the lower band. This indicates a relatively stable environment with no sharp directional bias.

Volume & Turnover

Trading volume spiked significantly during the NY session, especially around 21:00 ET when the price hit $0.01062. Notional turnover also surged during this period, confirming the price action. The volume and turnover divergence in the early morning hours, however, suggests some indecision among traders. A higher volume on the morning rally than the subsequent consolidation implies that the price could test key resistance levels in the near term.

Fibonacci Retracements

Applying Fibonacci retracement levels to the 24-hour swing from $0.00979 to $0.01062, the 38.2% retracement level is at $0.01022 and the 61.8% level is at $0.01043. The price has tested the 61.8% level and is currently consolidating around it. This level may act as a temporary resistance before a possible push toward the upper band or another retracement level.

Backtest Hypothesis

The RSI-based strategy of buying overbought and selling oversold conditions aligns well with the GALAUSDT’s recent behavior, where the RSI remains above 60 and no overbought conditions have yet triggered a correction. If RSI continues to rise and enters overbought territory above 70, traders may consider short-term profit-taking. Conversely, a drop below 50 could signal a potential shorting opportunity. The 24-hour range suggests that the strategy could effectively capture retracements, especially if the price fails to break above $0.01062 and retests support.