Gitcoin/Tether Market Overview: Volatility and Momentum on Last Day of Week

Summary
• Price tested 0.145–0.146 support/resistance cluster multiple times with indecision.
• A bullish engulfing pattern formed at 0.145–0.146 during early morning ET.
• Volatility expanded in the final 3 hours as price surged to 0.154 on heavy volume.
• RSI reached 60–65 range late, suggesting potential momentum exhaustion.
• Turnover spiked with price action confirming strength in the final 3 hours.

Gitcoin/Tether (GTCUSDT) opened at 0.146 on 2025-12-08 12:00 ET, hit a high of 0.154, and a low of 0.144, closing at 0.145 by 12:00 ET on 2025-12-09. Total volume reached 1,093,288.5 and turnover amounted to ~160,984 USDT.

Structure & Formations

Price spent much of the 24-hour period consolidating between 0.144 and 0.146 before a strong push above 0.150 in the afternoon. A engulfing pattern formed in the 0.145–0.146 range as buyers took control during early morning ET. This pattern may signal a short-term reversal in bearish pressure. A doji near 0.145 during the 0.145–0.146 range also suggests indecision at this key level.

Moving Averages and Volatility

On the 5-minute chart, the 20- and 50-period moving averages both trended upward during the final 3 hours, confirming the recent bullish move. Bollinger Bands expanded significantly in the last 3 hours, indicating rising volatility as price surged from 0.146 to 0.154. The price closed near the upper band at 0.154, suggesting strong conviction in the bullish move.

Momentum and Indicators

The RSI climbed into the 60–65 range by the close, signaling potential overbought conditions and possible momentum exhaustion. MACD crossed above the signal line during the price surge, providing bullish confirmation. However, caution is warranted as the RSI nearing 65 suggests the move could face near-term resistance.

Volume and Turnover

Volume remained moderate until the final 3 hours, where it spiked sharply with the price move above 0.150. The largest single 5-minute volume spike occurred at 16:15 ET, coinciding with the high of 0.154. Turnover also aligned with this volume spike, confirming the strength of the move. No divergence between price and volume was observed, suggesting the move is backed by strong participation.

Fibonacci Retracements

A key 5-minute swing from 0.144 to 0.154 saw price testing the 61.8% retracement level at around 0.149 before surging higher. On the daily chart, the 38.2% retracement level at 0.149 could serve as initial support if the current move corrects.

The market appears to be building momentum heading into the next 24 hours, with the 0.154–0.155 range acting as key resistance. A test of this level could either confirm the bullish bias or trigger a pullback toward the 0.148–0.149 zone. Traders should remain cautious as overbought conditions may invite a short-term consolidation phase.