GMT Rebounds Sharply From 200-Day MA Amid Surging Volume

Summary
• Price opened at $0.01267, formed a bullish engulfing pattern near $0.01261–0.01263, and declined to $0.01213 by 07:00 ET.
• A sharp rebound occurred after 09:00 ET, reaching $0.01285 at 16:15 ET amid a volume spike and 90-minute bullish divergence.
• 20-period 5-min MA provided temporary support near $0.0125, while 200-day MA at $0.01241–0.01246 acted as a floor.
• RSI hit 32 (oversold) at 07:00 ET, then rose to 55 by 16:30 ET, suggesting short-term momentum recovery.
• Volatility expanded significantly post-07:00 ET, with Bollinger Band width widening as price approached the upper band.

GMT/Tether (GMTUSDT) opened at $0.01267 on 2026-02-06 12:00 ET and closed at $0.01269 by 2026-02-07 12:00 ET, with a high of $0.01297 and a low of $0.01201. Total volume traded was 10,473,042.5 and notional turnover reached $134,340.01, showing strong activity during the mid- to late-ET hours.

Structure & Formations

The price formed a bullish engulfing pattern between 2026-02-06 22:30 ET and 2026-02-06 23:00 ET, supporting a potential short-covering rally. After a strong bearish leg down to $0.01213, price found support at 200-day MA ($0.01241–0.01246) and reversed. A small bearish doji at $0.01224–0.01223 around 09:30 ET signaled indecision before a final rally.

Moving Averages

The 20-period 5-min MA acted as a dynamic support level around $0.0125, while the 50-period 5-min MA hovered above it, reinforcing a potential bounce zone. On the daily chart, the 200-day MA ($0.01241–0.01246) remained critical, and the 50-day MA showed a slight upward bias.

Momentum Indicators

RSI hit an oversold 32 at 07:00 ET, then surged to 55 by 16:30 ET, indicating a shift in momentum. MACD showed a positive divergence between 07:00 ET and 16:15 ET, aligning with the late-session rally.

Bollinger Bands

Volatility expanded after 07:00 ET, with Bollinger Band width increasing by 25–30%. Price briefly touched the upper band at $0.01297, suggesting a possible short-term overbought condition.

Volume and Turnover

Volume surged above 1 million after 16:15 ET, coinciding with a $0.01297 high. Notional turnover spiked to $134,340.01, confirming the bullish breakout. However, volume during the 07:00–09:00 ET downtrend was relatively low, suggesting weak conviction in the bearish move.

Fibonacci Retracements

On the 5-min chart, a key retracement level at 61.8% ($0.01258–0.01259) acted as a pivot during the morning recovery. Daily-level Fibonacci levels (61.8% at $0.01264–0.01266) were closely tested during the afternoon rally.

GMT/Tether appears to have tested key support and resistance levels, with a strong rebound confirming short-term strength. The market may consolidate above $0.0125 in the next 24 hours, but investors should watch for a break of the 200-day MA or a retest of the $0.01297 high for further directional clarity.