GMTUSDT Market Overview

GMT/Tether (GMTUSDT) opened at $0.02206 on 2025-11-05 12:00 ET, reaching a high of $0.02269 and a low of $0.02128, before closing at $0.02157 at 2025-11-06 12:00 ET. Total 24-hour volume was 16,302,291.9 units, and turnover amounted to approximately $361,235.38, reflecting moderate but volatile activity.

Summary

• Price saw a sharp intra-day high near $0.02269, followed by a pullback to $0.02157
• Volume spiked during the late afternoon and early evening hours, indicating heightened interest
• RSI moved into overbought territory during the rally before returning to neutral
• Bollinger Bands showed a period of volatility expansion and subsequent contraction
• A bearish divergence formed between price and volume during the late trading session

Structure & Formations

Price action on GMTUSDT showed a clear bearish reversal pattern from a mid- to late-day peak. After reaching a high of $0.02269, the pair pulled back sharply, forming a series of lower highs and lower lows, which suggests bearish exhaustion. A notable candlestick pattern was a Bullish Engulfing at the start of the rally (~$0.02241), which initially signaled a potential reversal from a downtrend. However, this was quickly countered by a Bearish Dark Cloud Cover pattern near $0.02256. The latter part of the day saw bearish continuation with a Hanging Man and Shooting Star, reinforcing the bearish tone. A strong Bearish Engulfing at the close (~$0.02157) confirmed a short-term top may have been in place.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs crossed over twice during the session, with the 20-period SMA ending below the 50-period line at close (~$0.0217 vs. $0.0220, respectively), signaling a bearish bias in the short term. On the daily chart, the 50-period SMA (~$0.0224) was above the 100- and 200-period lines, which suggests a longer-term bullish bias, though this is currently being contested by short-term bearish momentum.

MACD & RSI

MACD showed a bearish crossover in the final hour of the session, with the line dipping below the signal line and the histogram shrinking, indicating weakening bullish momentum. RSI peaked above 70 during the early afternoon, showing overbought conditions, but then declined into neutral territory (~$0.0218) by the close. This suggests that while short-term optimism was evident, it was quickly exhausted. The divergence between RSI and price during the late afternoon further supports a bearish outlook.

Bollinger Bands

Volatility expanded sharply during the midday rally, with the upper band reaching ~$0.0227 and the lower band dipping to ~$0.0216. Price action moved above the upper band briefly, indicating strong momentum, before retracting and consolidating closer to the lower band by the close. The narrowing of bands toward the end of the session suggests decreasing volatility, which may precede a potential breakout or reversal. Prices closed near the lower band (~$0.02157), a bearish sign if this consolidation continues.

Volume & Turnover

Volume spiked significantly during the late afternoon and evening, particularly in the 16:30–17:00 ET period, reaching a 24-hour peak of 2,329,778.1 units. This occurred alongside a price pullback, forming a bearish divergence. Turnover mirrored the volume pattern, with a notable increase during the same window, indicating heightened participation during the sell-off. A divergence between rising volume and falling price suggests weakening buying interest, a key warning sign for bullish participants.

Fibonacci Retracements

On the 15-minute chart, key retracement levels were identified between the intra-day high of $0.02269 and the low of $0.02157. The 61.8% level (~$0.0221) acted as a temporary resistance, while the 38.2% level (~$0.0223) showed mixed behavior, with price bouncing off and then breaking through on multiple occasions. On the daily chart, Fibonacci levels from the broader downtrend (~$0.024–$0.0218) highlighted potential support at ~$0.0218, which GMTUSDT tested near close (~$0.02157), indicating it may face further downward pressure in the near term.

Backtest Hypothesis

A potential backtesting strategy involves identifying Bullish Engulfing patterns on the 15-minute chart, as one occurred near the start of the upward movement (~$0.02241). Given the current bearish divergence and the failure to hold key Fibonacci levels, a 3-day holding period could be tested to determine if such patterns still generate consistent returns in the current market structure. However, given the bearish reversal signals seen on the 1-hour and daily charts, caution is warranted, as recent bullish setups may have been invalidated by larger market forces.