Gnosis/Tether Market Overview

• Price action was choppy with a bearish close, closing near the 24-hour low.
• Momentum weakened as RSI dipped toward oversold territory and MACD turned negative.
• Volatility remained moderate with price within Bollinger Bands, but volume declined sharply after a midday spike.
• Key support at 145.42 and resistance at 146.17 were tested multiple times with mixed outcomes.
• A bullish reversal failed to materialize, suggesting continuation of the consolidation phase.

Gnosis/Tether (GNOUSDT) opened at 145.92 on 2025-09-19 12:00 ET and closed at 146.84 on 2025-09-20 12:00 ET, trading between 145.42 and 147.07. The total traded volume was 1,387.94, while notional turnover amounted to 199,369.8 USD, indicating a relatively low-liquidity session.

Structure & Formations

Price action over the 24-hour period showed a consolidative pattern, with multiple attempts to break through key resistance levels at 146.17 and 146.88. A bearish engulfing pattern formed around 17:00–17:15 ET, suggesting short-term bearish sentiment. A doji appeared at 19:15 ET, indicating indecision in the market. Support at 145.42 held multiple times, reinforcing its relevance as a psychological level.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs trended downward, with price closing below both, suggesting bearish bias. On the daily chart, the 50-period SMA stood at approximately 146.35, while the 100-period SMA at 146.07 and the 200-period SMA at 145.75. Price closed above the 50 SMA but below the 100 and 200 SMAs, indicating mixed signals for longer-term participants.

MACD & RSI

The MACD crossed below the signal line around 19:00 ET, turning negative and confirming a bearish momentum shift. RSI dipped below 30 at 21:15 ET, indicating oversold conditions, but failed to generate a strong bullish bounce, which suggests further downside is likely. Momentum appears to be waning, and a reversal may not materialize without a strong volume catalyst.

Bollinger Bands

Volatility was contained within the Bollinger Bands for most of the 24-hour period, with the exception of a brief midday expansion due to a sharp move from 145.58 to 146.23 between 00:15 and 00:30 ET. Price consistently remained in the lower half of the bands, reinforcing the bearish bias. A contraction in the bands suggests a potential breakout or continuation phase in the near term.

Volume & Turnover

Volume spiked around 00:15 ET (171.16 traded volume) but then declined sharply, ending the 24-hour period at a subdued level. Turnover mirrored volume, with the highest notional turnover also occurring in the early hours of the morning. The divergence between volume and price suggests weakening conviction in the bullish move and could signal a continuation of the current bearish trend.

Fibonacci Retracements

On the 15-minute chart, the 38.2% Fibonacci retrace level sat at 146.01 and was briefly tested but failed to hold. The 61.8% retrace at 145.65 provided some support but was not strong enough to reverse the trend. On the daily chart, the 38.2% level at 146.31 was the key resistance that failed to hold, suggesting that the bearish trend may continue in the short term.

Backtest Hypothesis

If we apply a backtesting strategy that involves entering a short position when RSI dips below 30 and MACD crosses below the signal line, with a stop-loss placed at the nearest support level (e.g., 145.42), this approach could have captured a portion of the bearish move observed after 19:00 ET. However, the lack of a strong volume confirmation and the multiple failed bounces from key support levels suggest that such a strategy would require tight risk management to avoid false signals during consolidation periods. The effectiveness of this strategy would likely depend on the strength of the breakout or breakdown following the consolidation phase.