Gitcoin/Tether Market Overview

Summary
• Gitcoin/Tether (GTCUSDT) traded in a volatile range, reaching a 24-hour high of 0.194 before retracing.
• Momentum remained mixed with RSI fluctuating around neutral levels and MACD showing weak bullish divergence.
• Volume spiked during key breakout attempts, with large turnover observed near key resistance clusters.
• A key support at 0.189 held into the final hours, with price stabilizing near this level at the 24-hour close.
• Bollinger Bands showed moderate contraction in the midday, followed by expansion toward the end of the session.

Gitcoin/Tether (GTCUSDT) opened at 0.190 on 2025-11-10 at 12:00 ET and reached a high of 0.194 before closing at 0.186 on 2025-11-11 at 12:00 ET. Total volume for the 24-hour window was 3,781,582.8, and total turnover was 743.45. Price action showed a mix of bullish and bearish momentum with key swings forming in the afternoon.

Structure & Formations

Price formed a bearish divergence in the latter half of the session with a series of lower highs and higher lows, suggesting a potential near-term correction. A bearish engulfing pattern emerged late in the session, confirming the shift in sentiment. Key resistance levels appeared at 0.192 and 0.194, with support holding at 0.189 and 0.186. A break below 0.186 could signal a deeper pullback.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages remained in a bullish crossover near 0.190, but pressure has mounted as price approached the 50-period MA. On the daily chart, the 50-period and 200-period MAs are in a neutral to slightly bullish alignment, suggesting the pair may find buyers if it dips to 0.185.

MACD & RSI

The MACD histogram turned bearish in the final hours of the session, signaling weakening upward momentum. RSI remained in neutral territory, oscillating between 50 and 60, with no overbought or oversold readings. This suggests a balanced market with no clear directional bias emerging.

Bollinger Bands

Bollinger Bands experienced a moderate contraction in the midday, indicating low volatility. However, a late-session expansion toward the upper band suggests increased volatility toward the close. Price ended near the middle band, indicating a potential consolidation phase.

Volume & Turnover

Volume spiked during key resistance levels, especially in the 21:00–22:00 ET timeframe, indicating strong participation during key price moves. Turnover followed volume closely, with no significant divergences noted. This suggests that price and volume were aligned during key moves.

Fibonacci Retracements

Fibonacci levels from the 0.186–0.194 range showed the 61.8% retracement at 0.190 as a potential area of interest. The 38.2% level at 0.188 also held as a minor support level during the afternoon. A breakdown below 0.186 could trigger a retest of earlier support levels.

Backtest Hypothesis

A potential backtest strategy could involve entering a long position on the open after a bullish engulfing pattern forms and exiting at the next pivot-high. Pivot-high levels can be identified using the highest close of the previous 20 days. For Gitcoin/Tether, this would translate to setting a hard exit point at key resistance levels such as 0.192 or 0.194. This approach would allow for a systematic test of whether holding until the next major resistance level captures profitable gains without exposure to deeper corrections. Using the 15-minute data and pivot-high-based exit, a rules-based backtest could be conducted from 2022-01-01 to 2025-11-11 with HOLD.P as a benchmark.